Barrick Gold (TSE:ABX) Stock Crosses Below 200 Day Moving Average – What’s Next?

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$25.28 and traded as low as C$24.40. Barrick Gold shares last traded at C$24.44, with a volume of 3,228,058 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ABX shares. Sanford C. Bernstein reduced their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus cut their target price on Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. TD Securities reiterated a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a report on Wednesday, October 16th. Finally, Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$31.00.

Barrick Gold Stock Performance

The company’s 50-day moving average is C$26.01 and its two-hundred day moving average is C$25.28. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. The company has a market cap of C$42.77 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.54 annualized dividend and a dividend yield of 2.21%. Barrick Gold’s payout ratio is currently 45.38%.

Insider Buying and Selling

In other news, Senior Officer Poupak Bahamin bought 5,778 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average cost of C$25.03 per share, with a total value of C$144,645.87. Also, Director Dennis Mark Bristow bought 85,296 shares of the stock in a transaction on Thursday, November 21st. The stock was purchased at an average price of C$25.03 per share, for a total transaction of C$2,135,291.53. In the last quarter, insiders have sold 143,834 shares of company stock valued at $4,017,999. 0.60% of the stock is owned by company insiders.

Barrick Gold Company Profile

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.