Barrick Gold (TSE:ABX) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Barrick Gold's stock price surpassed its 200-day moving average during trading, reaching highs of C$47.51 before last trading at C$46.33.
• Several analysts have upgraded Barrick Gold's rating, with price targets ranging from C$41.00 to C$57.00, indicating strong positive sentiment towards the stock.
• Insider activity saw significant sales, with two insiders selling a total of 62,990 shares valued at C$2.58 million over the last quarter, suggesting potential concerns among company executives.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX's stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$31.59 and traded as high as C$47.51. Barrick Gold shares last traded at C$46.33, with a volume of 4,180,106 shares.

Analyst Ratings Changes

ABX has been the subject of several research analyst reports. National Bankshares upgraded Barrick Gold from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from C$36.00 to C$51.00 in a research report on Monday, September 22nd. BMO Capital Markets increased their target price on Barrick Gold from C$37.00 to C$41.00 in a research note on Monday, September 22nd. Canaccord Genuity Group lifted their target price on Barrick Gold from C$39.00 to C$57.00 and gave the company a "buy" rating in a research report on Thursday. Cormark increased their price target on shares of Barrick Gold from C$35.00 to C$45.00 in a research report on Thursday, September 18th. Finally, National Bank Financial raised shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Barrick Gold has an average rating of "Buy" and a consensus price target of C$40.33.

Barrick Gold Stock Performance

The stock has a 50-day moving average price of C$39.24 and a 200 day moving average price of C$31.59. 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 firm has a market capitalization of C$79.04 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 2.34 and a beta of 1.06.

Insider Activity

In other news, insider Poupak Bahamin sold 8,402 shares of Barrick Gold stock in a transaction on Thursday, September 18th. The shares were sold at an average price of C$41.21, for a total transaction of C$346,269.11. Following the completion of the sale, the insider directly owned 29,400 shares of the company's stock, valued at approximately C$1,211,653.38. The trade was a 22.23% decrease in their position. Also, insider Joel James Holliday sold 13,588 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of C$40.38, for a total transaction of C$548,735.07. Following the transaction, the insider owned 84,087 shares of the company's stock, valued at approximately C$3,395,752.59. The trade was a 13.91% decrease in their position. Insiders have sold a total of 62,990 shares of company stock valued at $2,580,075 over the last quarter. Company insiders own 0.60% of the company's stock.

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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