Barrick Gold stock gains after profit beats expectations, dividend doubled

Shares of Barrick Gold Corp. /zigman2/quotes/201432642/composite GOLD -0.87% /zigman2/quotes/209252292/delayed CA:ABX -0.87% rose 0.4% in premarket trading Wednesday, after the gold miner reported first-quarter profit that fell less than expected and doubled its dividend, as the realized gold price climbed 5.6%. Net income declined to $438 million, or 25 cents a share, from $538 million, or 29 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 26 cents beat the FactSet consensus of 24 cents. Revenue fell 3.5% to $2.85 billion, matching the FactSet consensus, while cost of sales increased 1.6% to $1.74 billion. Realized gold price per ounce rose to $1,876 from $1,777, while gold production declined 10.1% to 990,000 ounces. The company raised its quarterly dividend to 20 cents a share, including a 10-cent performance dividend, from 10 cents a share, with the new dividend payable June 15 to shareholders of record of May 27. The stock has rallied 18.0% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.11% has dropped 12.4%.

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Barrick Gold Corp.

US : U.S.: NYSE

$ 17.00

-0.15 -0.87%

Volume: 11.04M

June 9, 2023 4:03p

P/E Ratio

276.42

Dividend Yield

3.24%

Market Cap

$30.05 billion

Rev. per Employee

$471,478

/zigman2/quotes/209252292/delayed

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Barrick Gold Corp.

CA : Canada: Toronto

$ 22.67

-0.20 -0.87%

Volume: 2.03M

June 9, 2023 4:00p

P/E Ratio

420.59

Dividend Yield

3.78%

Market Cap

$40.14 billion

Rev. per Employee

$623,575

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,298.86

+4.93 +0.11%

Volume: 0.00

June 9, 2023 5:38p