Barrick Gold (TSE:ABX) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$25.21 and traded as low as C$22.30. Barrick Gold shares last traded at C$22.60, with a volume of 2,426,498 shares.

Analyst Upgrades and Downgrades

ABX has been the topic of a number of recent research reports. Stifel Nicolaus dropped their target price on Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. TD Securities restated a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Sanford C. Bernstein reduced their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$30.17.

Barrick Gold Price Performance

The business has a 50-day moving average price of C$24.92 and a two-hundred day moving average price of C$25.21. 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 capitalization of C$39.55 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s payout ratio is 45.38%.

Insider Transactions at Barrick Gold

In other news, Director Dennis Mark Bristow acquired 85,296 shares of Barrick Gold stock in a transaction that occurred 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 Barrick Gold stock in a transaction on Friday, November 29th. The shares were sold at an average price of C$24.49, for a total value of C$61,215.00. Company insiders own 0.60% of the company’s stock.

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.