Barrick Gold (TSE:ABX) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Barrick Gold Co. (TSE:ABX) (NYSE:ABX)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$25.20 and traded as low as C$23.41. Barrick Gold shares last traded at C$23.99, with a volume of 3,501,658 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on ABX. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. National Bankshares decreased their target price on Barrick Gold from C$26.00 to C$24.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. TD Securities reaffirmed a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price target on shares of Barrick Gold to C$21.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Sanford C. Bernstein lowered their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$30.38.

Barrick Gold Price Performance

The firm has a market capitalization of C$41.58 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The stock’s fifty day moving average price is C$23.25 and its two-hundred day moving average price is C$25.21. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported C$0.42 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.03). Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. During the same period last year, the firm earned $0.32 earnings per share. Equities research analysts expect that Barrick Gold Co. will post 2.2422764 EPS for the current year.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.135 per share. The ex-dividend date was Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a yield of 2.27%. Barrick Gold’s payout ratio is currently 45.38%.

Insider Transactions at Barrick Gold

In other Barrick Gold news, Director Dennis Mark Bristow bought 85,296 shares of Barrick Gold stock in a transaction on Thursday, November 21st. The stock was bought at an average price of C$25.03 per share, with a total value of C$2,135,291.53. Also, Senior Officer Poupak Bahamin sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of C$24.49, for a total transaction of C$61,215.00. Insiders own 0.60% of the company’s stock.

About Barrick Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.