Barrick Gold (TSE:ABX) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Barrick Gold Co. (TSE:ABX) (NYSE:ABX)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$25.12 and traded as high as C$25.19. Barrick Gold shares last traded at C$25.03, with a volume of 2,415,691 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABX shares. Sanford C. Bernstein decreased their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. TD Securities restated a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Stifel Nicolaus boosted their target price on shares of Barrick Gold from C$28.50 to C$33.50 in a research note on Monday, October 21st. UBS Group downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.14.

Barrick Gold Price Performance

The company has a market capitalization of C$43.80 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company’s 50-day moving average price is C$26.78 and its two-hundred day moving average price is C$25.12. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio is 45.38%.

Insider Buying and Selling

In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the 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. Also, Senior Officer Joel James Holliday sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$27.36, for a total transaction of C$547,298.10. 0.60% of the stock is owned by insiders.

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.