Barrick Gold (NYSE:GOLD) - Share price, News & Analysis

GOLD fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	2/6
Financial Health	5/6
Dividends	4/6

GOLD Stock Overview

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties.

Rewards

Trading at 57.8% below our estimate of its fair value

Risk Analysis

Earnings are forecast to decline by an average of 1.9% per year for the next 3 years

Unstable dividend track record

Barrick Gold Competitors

Newmont

NYSE:NEM

US$55.2b

Agnico Eagle Mines

NYSE:AEM

US$24.9b

Compañía de Minas BuenaventuraA

NYSE:BVN

US$2.2b

Coeur Mining

NYSE:CDE

US$1.1b

Price History & Performance

Summary of all time highs, changes and price drops for Barrick Gold
Historical stock prices
Current Share Price	CA$21.25
52 Week High	CA$26.07
52 Week Low	CA$17.27
Beta	0.064
1 Month Change	-6.51%
3 Month Change	-5.72%
1 Year Change	-13.55%
3 Year Change	80.85%
5 Year Change	28.48%
Change since IPO	169.84%

Recent News & Updates

May 20

Is Barrick Gold Stock A Buy, Sell, Or Hold After Recent Earnings? We Like The 4% Dividend Yield

Barrick Gold reported its Q1 earnings which beat expectations despite some mixed operating trends due to facilities maintenance and cost pressures. The company initiated a new dividend policy tied to the balance sheet net debt level with the current forward yield at 3.9%. We are bullish on Barrick Gold as a leading miner with a positive outlook on the precious metal price.

May 05

Barrick Gold: An Attractive Yield At A Reasonable Price

Barrick Gold released its Q1 results this week, reporting quarterly gold production of ~1.0 million ounces and copper production of ~101 million pounds. This represented a sharp decline in gold production from the year-ago period, partially offset by higher gold prices, higher copper sales, and higher copper prices. Meanwhile, though revenue and earnings declined year-over-year in Q1, Barrick has a much stronger H2 ahead and should see slight margin expansion despite inflationary pressures. Given Barrick's more attractive long-term outlook with improved shareholder returns and an enviable development pipeline, pullbacks toward the US$21.00 level should present buying opportunities.

Shareholder Returns

	GOLD	US Metals and Mining	US Market
7D	7.6%	6.4%	1.0%
1Y	-13.5%	-2.3%	-15.1%

Return vs Industry: GOLD underperformed the US Metals and Mining industry which returned -2.5% over the past year.

Return vs Market: GOLD matched the US Market which returned -13.2% over the past year.

Price Volatility

Is GOLD's price volatile compared to industry and market?
GOLD volatility
GOLD Average Weekly Movement	4.5%
Metals and Mining Industry Average Movement	10.1%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: GOLD is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: GOLD's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1983	n/a	Dennis Bristow	https://www.barrick.com

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. It has ownership interests in producing gold mines that are located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, Dominican Republic, Mali, Tanzania, and the United States. The company also has ownership interests in producing copper mines located in Chile, Saudi Arabia, and Zambia; and various other projects located throughout the Americas and Africa.

Barrick Gold Fundamentals Summary

How do Barrick Gold's earnings and revenue compare to its market cap?
GOLD fundamental statistics
Market Cap	US$37.70b
Earnings (TTM)	US$1.92b
Revenue (TTM)	US$11.88b

19.6x

P/E Ratio

3.2x

P/S Ratio

Is GOLD overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
GOLD income statement (TTM)
Revenue	US$11.88b
Cost of Revenue	US$7.11b
Gross Profit	US$4.78b
Other Expenses	US$2.85b
Earnings	US$1.92b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	1.08
Gross Margin	40.19%
Net Profit Margin	16.18%
Debt/Equity Ratio	15.6%

How did GOLD perform over the long term?

See historical performance and comparison

Dividends

2.4%

Current Dividend Yield

35%

Payout Ratio

Does GOLD pay a reliable dividends?

See GOLD dividend history and benchmarks

When do you need to buy GOLD by to receive an upcoming dividend?
Barrick Gold dividend dates
Ex Dividend Date	May 26 2022
Dividend Pay Date	Jun 15 2022
Days until Ex dividend	1 day
Days until Dividend pay date	19 days

Does GOLD pay a reliable dividends?

See GOLD dividend history and benchmarks

Valuation

Is Barrick Gold undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: GOLD ($21.25) is trading below our estimate of fair value ($50.3)

Significantly Below Fair Value: GOLD is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: GOLD is poor value based on its Price-To-Earnings Ratio (19.6x) compared to the US Metals and Mining industry average (8.6x).

PE vs Market: GOLD is poor value based on its Price-To-Earnings Ratio (19.6x) compared to the US market (14.9x).

Price to Earnings Growth Ratio

PEG Ratio: GOLD's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Price to Book Ratio

PB vs Industry: GOLD is good value based on its Price-To-Book Ratio (1.6x) compared to the US Metals and Mining industry average (1.9x).

Future Growth

How is Barrick Gold forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

-1.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GOLD's earnings are forecast to decline over the next 3 years (-1.9% per year).

Earnings vs Market: GOLD's earnings are forecast to decline over the next 3 years (-1.9% per year).

High Growth Earnings: GOLD's earnings are forecast to decline over the next 3 years.

Revenue vs Market: GOLD's revenue (0.7% per year) is forecast to grow slower than the US market (7.7% per year).

High Growth Revenue: GOLD's revenue (0.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GOLD's Return on Equity is forecast to be low in 3 years time (7.7%).

Past Performance

How has Barrick Gold performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

19.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GOLD has high quality earnings.

Growing Profit Margin: GOLD's current net profit margins (16.2%) are lower than last year (19.2%).

Past Earnings Growth Analysis

Earnings Trend: GOLD's earnings have grown by 19.8% per year over the past 5 years.

Accelerating Growth: GOLD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: GOLD had negative earnings growth (-21.9%) over the past year, making it difficult to compare to the Metals and Mining industry average (98.2%).

Return on Equity

High ROE: GOLD's Return on Equity (9.7%) is considered low.

Financial Health

How is Barrick Gold's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: GOLD's short term assets ($9.0B) exceed its short term liabilities ($2.2B).

Long Term Liabilities: GOLD's short term assets ($9.0B) do not cover its long term liabilities ($12.4B).

Debt to Equity History and Analysis

Debt Level: GOLD has more cash than its total debt.

Reducing Debt: GOLD's debt to equity ratio has reduced from 68.9% to 15.6% over the past 5 years.

Debt Coverage: GOLD's debt is well covered by operating cash flow (80.3%).

Interest Coverage: GOLD's interest payments on its debt are well covered by EBIT (14.4x coverage).

Balance Sheet

Dividend

What is Barrick Gold current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

2.36%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: GOLD's dividend (2.36%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: GOLD's dividend (2.36%) is low compared to the top 25% of dividend payers in the US market (4.06%).

Stability and Growth of Payments

Stable Dividend: GOLD's dividend payments have been volatile in the past 10 years.

Growing Dividend: GOLD's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (35.2%), GOLD's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (56.6%), GOLD's dividend payments are covered by cash flows.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure

CEO

Dennis Bristow (62 yo)

3.33yrs

Tenure

US$14,476,815

Compensation

Dr. Dennis Mark Bristow, Ph D., serves as Member of International Advisory Board at Barrick Gold Corporation since 2022. He serves as President, Chief Executive Officer and Director at Barrick Gold Corpora...

CEO Compensation Analysis

Compensation vs Market: Dennis's total compensation ($USD14.48M) is about average for companies of similar size in the US market ($USD13.26M).

Compensation vs Earnings: Dennis's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: GOLD's management team is considered experienced (3.3 years average tenure).

Board Members

Experienced Board: GOLD's board of directors are considered experienced (7.8 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: GOLD insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/25 00:00
End of Day Share Price	2022/05/25 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31