Barrick Gold (TSE:ABX) Stock Price Breaks Below 200 Day Moving Average – Here’s What Happened

Barrick Gold Co. (TSE:ABX) (NYSE:ABX)’s stock price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$56.90 and traded as low as C$55.74. Barrick Gold shares last traded at C$55.84, with a volume of 2,057,969 shares traded.

Analysts Set New Price Targets

ABX has been the topic of several recent analyst reports. National Bank Financial boosted their price objective on shares of Barrick Gold from C$67.50 to C$70.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Raymond James Financial lowered their price objective on Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. ATB Cormark Capital Markets reduced their price target on shares of Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Canaccord Genuity Group boosted their target price on shares of Barrick Gold from C$68.00 to C$73.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Finally, Citigroup raised Barrick Gold to a “hold” rating in a research report on Thursday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Buy” and a consensus target price of C$67.67.

Barrick Gold Trading Up 2.9%

The firm’s 50-day simple moving average is C$59.74 and its 200 day simple moving average is C$56.94. The firm has a market cap of C$96.33 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 2.34 and a beta of 1.63. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 17.15.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. Barrick Gold had a net margin of 31.60% and a return on equity of 24.57%. The business had revenue of C$6.06 billion for the quarter. As a group, analysts expect that Barrick Gold Co. will post 2.2422764 earnings per share for the current year.

Insider Buying and Selling

In other Barrick Gold news, Director Mark Francis Hill sold 174,778 shares of the firm’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of C$59.47, for a total value of C$10,394,047.66. Following the transaction, the director directly owned 125,914 shares of the company’s stock, valued at approximately C$7,488,105.58. This trade represents a 58.13% decrease in their ownership of the stock. Also, insider Sarah Anna Ball Teslik bought 12,613 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average cost of C$67.27 per share, with a total value of C$848,476.51. Following the acquisition, the insider directly owned 12,613 shares in the company, valued at C$848,476.51. This trade represents a ∞ increase in their position. 0.60% of the stock is owned by insiders.

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.