Barrick Gold (TSE:ABX) Share Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• Barrick Gold (ABX) has fallen below its 200-day moving average, trading as low as C$53.48 (200‑day MA C$56.28) and last at C$53.92 on volume of about 10.07 million shares.
• Wall Street maintains an overall Buy consensus with an average price target of C$79.63, reflecting five Strong Buy, seven Buy and one Hold ratings amid recent target revisions.
• Insider activity is mixed: a director purchased 12,400 shares at C$65.41 while another insider sold 100,000 shares at C$64.72, and insiders collectively own 0.60% of the stock.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX crossed 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 trading hands.

Wall Street Analysts Forecast Growth

ABX has been the topic of several recent research reports. National Bank Financial decreased their price objective on Barrick Gold from C$82.50 to C$75.00 and set an "outperform" rating on the stock in a report on Tuesday, February 10th. Sanford C. Bernstein raised their target price on shares of Barrick Gold from C$84.00 to C$86.00 in a report on Friday, February 27th. Canaccord Genuity Group reduced their price target on shares of Barrick Gold from C$80.00 to C$77.00 in a research report on Wednesday, February 18th. BNP Paribas Exane raised shares of Barrick Gold to a "strong-buy" rating in a research note on Friday, December 5th. 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 equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Barrick Gold currently has an average rating of "Buy" and a consensus price target of C$79.63.

Barrick Gold Trading Up 2.8%

The company has a 50-day moving average of C$63.80 and a 200 day moving average of C$56.28. 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 company has a market cap of C$90.34 billion, a PE ratio of 18.40, 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 quarterly earnings data on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share (EPS) for the quarter. The business 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%. Analysts predict 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 bought 12,400 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of C$65.41 per share, with a total value of C$811,084.00. Following the transaction, the director owned 12,400 shares in the company, valued at C$811,084. This trade represents a ∞ increase in their position. Also, insider Graham Patrick Shuttleworth sold 100,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total value of C$6,472,000.00. Following the sale, the insider owned 487,252 shares in the company, valued at C$31,534,949.44. The trade was a 17.03% decrease in their position. 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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