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

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$58.24 and traded as high as C$60.53. Barrick Gold shares last traded at C$59.76, with a volume of 3,797,133 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. ATB Cormark Capital Markets decreased their price objective on Barrick Gold from C$60.00 to C$57.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 11th. Canadian Imperial Bank of Commerce cut Barrick Gold from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 15th. Canaccord Genuity Group lifted their target price on Barrick Gold from C$68.00 to C$73.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. Stifel Nicolaus reduced their target price on shares of Barrick Gold from C$90.00 to C$84.00 and set a "buy" rating for the company in a research report on Monday, October 19th. Finally, TD decreased their price target on shares of Barrick Gold from C$59.00 to C$58.00 and set a "buy" rating on the stock in a research note on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Barrick Gold has a consensus rating of "Moderate Buy" and a consensus price target of C$66.27.

Barrick Gold Price Performance

The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 17.15. The company's fifty day moving average price is C$57.95 and its 200 day moving average price is C$58.24. The company has a market capitalization of C$98.36 billion, a P/E ratio of 15.44, a PEG ratio of 2.34 and a beta of 1.86.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last issued its quarterly earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. The business had revenue of C$6.06 billion during the quarter. Barrick Gold had a return on equity of 24.57% and a net margin of 31.60%. As a group, sell-side analysts forecast that Barrick Gold Co. will post 2.24 EPS for the current year.

Insider Activity

In related news, insider Sarah Anna Ball Teslik bought 12,613 shares of Barrick Gold stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of C$67.27 per share, with a total value of C$848,476.51. Following the acquisition, the insider owned 12,613 shares in the company, valued at C$848,476.51. This trade represents a ∞ increase in their position. Also, insider Darian Kevin Rich sold 75,452 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of C$67.99, for a total value of C$5,129,981.48. Following the completion of the transaction, the insider owned 235,252 shares in the company, valued at C$15,994,783.48. The trade was a 24.28% decrease in their position. Corporate 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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