Barrick Gold (TSE:ABX) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.42 and traded as high as C$28.26. Barrick Gold shares last traded at C$27.78, with a volume of 2,228,551 shares.

Analyst Ratings Changes

ABX has been the subject of a number of recent analyst reports. Scotiabank cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. UBS Group raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Canaccord Genuity Group decreased their price objective on shares of Barrick Gold from C$33.50 to C$30.00 in a report on Wednesday, January 15th. National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Finally, TD Cowen restated a “buy” rating and set a C$36.00 price target on shares of Barrick Gold in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$31.55.

Barrick Gold Price Performance

The stock has a market cap of C$33.76 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The stock’s fifty day moving average is C$25.90 and its 200-day moving average is C$25.42. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62.

Insider Activity

In other news, Senior Officer Henri Louis Gonin sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of C$27.72, for a total value of C$27,720.55. Also, Senior Officer Poupak Bahamin sold 17,633 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$25.96, for a total transaction of C$457,781.77. Corporate insiders own 0.60% of the company’s stock.

About Barrick Gold

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.