Barrick Gold (TSE:ABX) Shares Cross Below 200-Day Moving Average – Time to Sell?

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$56.28 and traded as low as C$53.48. Barrick Gold shares last traded at C$53.92, with a volume of 10,066,174 shares.

Wall Street Analyst Weigh In

A number of analysts have commented on ABX shares. BNP Paribas Exane raised shares of Barrick Gold to a “strong-buy” rating in a research note on Friday, December 5th. ATB Cormark Capital Markets cut their price target on shares of Barrick Gold from C$100.00 to C$94.00 and set a “moderate buy” rating on the stock in a report on Monday, February 9th. National Bank Financial reduced their price target on shares of Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating for the company in a research report on Tuesday, February 10th. Canaccord Genuity Group decreased their price objective on shares of Barrick Gold from C$80.00 to C$77.00 in a research note on Wednesday, February 18th. Finally, Stifel Nicolaus lifted their price objective on shares of Barrick Gold from C$65.00 to C$95.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$79.63.

Barrick Gold Stock Performance

The firm has a 50 day moving average of C$63.46 and a 200-day moving average of C$56.25. The stock has a market capitalization of C$89.51 billion, a PE ratio of 18.24, a P/E/G ratio of 2.34 and a beta of 1.33. The company has a debt-to-equity ratio of 17.89, a quick ratio of 2.62 and a current ratio of 2.92.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its earnings results on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share for the quarter. The company had revenue of C$8.01 billion for the quarter. Barrick Gold had a return on equity of 19.79% and a net margin of 29.39%. Research analysts forecast that Barrick Gold Co. will post 2.2422764 earnings per share for the current year.

Insider Activity at Barrick Gold

In related news, Director Pekka Juhani Vauramo purchased 12,400 shares of the stock in a transaction dated Thursday, February 12th. The shares were acquired at an average cost of C$65.41 per share, for a total transaction of C$811,084.00. Following the acquisition, the director directly owned 12,400 shares in the company, valued at approximately C$811,084. The trade was a ∞ increase in their position. Also, insider Graham Patrick Shuttleworth sold 100,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total transaction of C$6,472,000.00. Following the transaction, the insider owned 487,252 shares in the company, valued at approximately C$31,534,949.44. This represents a 17.03% decrease in their ownership of the stock. Company insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry – including six of the world’s Tier One gold mines -Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.