Barrick Gold (TSE:ABX) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Barrick Gold shares have surpassed their 200-day moving average during trading, currently standing at C$31.77 compared to the average of C$27.02.
• Recent analyst reports show mixed ratings, with five analysts rating the stock as hold, five as buy, and three as strong buy, and an average target price of C$33.14.
• The company, a leading gold producer with operations across multiple continents, has a market capitalization of C$38.61 billion and a PE ratio of 23.92.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$27.02 and traded as high as C$32.21. Barrick Gold shares last traded at C$31.77, with a volume of 3,591,987 shares trading hands.

Wall Street Analyst Weigh In

ABX has been the subject of several research analyst reports. Sanford C. Bernstein dropped their target price on shares of Barrick Gold from C$45.00 to C$43.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. BMO Capital Markets raised shares of Barrick Gold to a "hold" rating in a report on Tuesday, April 15th. Finally, Stifel Nicolaus increased their target price on Barrick Gold from C$34.00 to C$37.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$33.14.

Barrick Gold Stock Performance

The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The company has a fifty day moving average price of C$28.84 and a 200 day moving average price of C$27.02. The stock has a market cap of C$38.61 billion, a PE ratio of 23.92, a P/E/G ratio of 2.34 and a beta of 0.48.

Barrick Gold Company Profile

Barrick Gold Corp is one of the world's largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.

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