Barrick Gold (TSE:ABX) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Shares of Barrick Gold passed above its 200‑day moving average (200‑day MA C$56.80), trading as high as C$58.80 and last at C$58.04 on volume of about 4.1 million shares.
• Analysts are broadly bullish — multiple upgrades and raised price targets (e.g., Stifel C$95, JPMorgan C$91) leave a MarketBeat consensus target of C$79.63 and an average rating of "Buy" (5 Strong Buy, 7 Buy, 1 Hold).
• Notable insider activity and solid fundamentals: a director bought 12,400 shares at C$65.41 while another insider sold 100,000 at C$64.72; Barrick has a market cap of C$97.24B, trailing PE ~19.8, last quarter EPS C$1.43 and revenue C$8.01B.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX's share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$56.80 and traded as high as C$58.80. Barrick Gold shares last traded at C$58.04, with a volume of 4,124,873 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABX. BNP Paribas Exane upgraded Barrick Gold to a "strong-buy" rating in a research note on Friday, December 5th. Sanford C. Bernstein raised their price target on Barrick Gold from C$84.00 to C$86.00 in a report on Friday, February 27th. DZ Bank upgraded Barrick Gold to a "strong-buy" rating in a research note on Monday, January 19th. JPMorgan Chase & Co. upped their price objective on shares of Barrick Gold from C$89.00 to C$91.00 in a report on Wednesday, February 25th. Finally, Stifel Nicolaus increased their price objective on shares of Barrick Gold from C$65.00 to C$95.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Five research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$79.63.

Barrick Gold Stock Down 1.1%

The company has a debt-to-equity ratio of 17.89, a current ratio of 2.92 and a quick ratio of 2.62. The business's fifty day moving average price is C$62.24 and its two-hundred day moving average price is C$56.80. The stock has a market capitalization of C$97.24 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.34 and a beta of 1.33.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last issued its earnings results on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share (EPS) for the quarter. Barrick Gold had a return on equity of 19.79% and a net margin of 29.39%.The company had revenue of C$8.01 billion during the quarter. On average, equities research analysts forecast that Barrick Gold Co. will post 2.2422764 EPS for the current fiscal year.

Insider Activity

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

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