Barrick Mining Corporation (NYSE:B) to Issue Quarterly Dividend of $0.18

Barrick Mining Corporation (NYSE:B) (TSE:ABX) declared a quarterly dividend on Monday, November 10th. Shareholders of record on Friday, November 28th will be paid a dividend of 0.175 per share by the gold and copper producer on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, November 28th. This is a 16.7% increase from Barrick Mining’s previous quarterly dividend of $0.15.

Barrick Mining has increased its dividend payment by an average of 0.2%per year over the last three years. Barrick Mining has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Barrick Mining to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 38.7%.

Barrick Mining Stock Up 5.6%

Shares of B stock traded up $1.85 on Monday, hitting $34.94. The stock had a trading volume of 25,458,198 shares, compared to its average volume of 20,065,406. The stock’s 50 day moving average is $32.10 and its 200-day moving average is $25.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The firm has a market capitalization of $58.96 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 0.40 and a beta of 0.28. Barrick Mining has a 52-week low of $15.11 and a 52-week high of $36.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the company earned $0.09 earnings per share. The business’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts expect that Barrick Mining will post 1.47 earnings per share for the current year.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.