Barrick Gold (ABX) Set to Announce Earnings on Thursday

Barrick Gold (TSE:ABX) (NYSE:ABX) will be announcing its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of C$0.47 per share for the quarter.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.36 by C$0.08. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. The firm had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion.

Barrick Gold Trading Down 0.6 %

TSE ABX opened at C$26.11 on Wednesday. The company has a market capitalization of C$45.69 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The company’s fifty day moving average price is C$27.41 and its two-hundred day moving average price is C$25.06.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.138 per share. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. This represents a $0.55 annualized dividend and a dividend yield of 2.11%. Barrick Gold’s dividend payout ratio (DPR) is presently 45.38%.

Insiders Place Their Bets

In other news, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. In related news, Senior Officer Riaan Grobler sold 94,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total value of C$1,784,693.40. Also, Director Christopher Lewis Coleman sold 121,334 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. In the last 90 days, insiders sold 235,334 shares of company stock worth $5,741,477. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

ABX has been the topic of several research reports. UBS Group cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. TD Securities restated a “buy” rating and set a C$34.00 price objective on shares of Barrick Gold in a research note on Wednesday, October 16th. Canaccord Genuity Group lifted their price objective on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Stifel Nicolaus increased their target price on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Finally, Eight Capital lifted their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$31.14.

About Barrick Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.