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

Barrick Gold Co. (TSE:ABX) (NYSE:ABX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABX. UBS Group cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their price target on shares of Barrick Gold from C$28.50 to C$33.50 in a research report on Monday, October 21st. Sanford C. Bernstein lowered their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, TD Securities reissued a “buy” rating and set a C$34.00 price objective on shares of Barrick Gold in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$31.14.

Barrick Gold Price Performance

The stock has a market cap of C$43.80 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The business’s fifty day simple moving average is C$26.78 and its 200 day simple moving average is C$25.12. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.135 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.16%. Barrick Gold’s dividend payout ratio (DPR) is presently 45.38%.

Insider Activity

In other Barrick Gold news, Senior Officer Joel James Holliday sold 20,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$27.36, for a total value of C$547,298.10. Also, Director Christopher Lewis Coleman sold 121,334 shares of the stock in a transaction that occurred on 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. Company insiders own 0.60% of the company’s stock.

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.