Barrick Gold (TSE:ABX) Shares Cross Above Two Hundred Day Moving Average of $23.50

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.50 and traded as high as C$26.50. Barrick Gold shares last traded at C$25.79, with a volume of 2,548,530 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABX. Eight Capital raised their target price on Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Canaccord Genuity Group lifted their target price on Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$30.18.

Barrick Gold Price Performance

The company has a market capitalization of C$45.13 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.94 and a beta of 0.47. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. The stock’s 50 day simple moving average is C$25.45 and its 200-day simple moving average is C$23.53.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. The company had revenue of C$4.33 billion for the quarter, compared to analyst estimates of C$4.12 billion.

Barrick Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 2.14%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, August 30th. Barrick Gold’s payout ratio is presently 47.41%.

Insider Transactions at Barrick Gold

In other news, Director Andrew James Quinn bought 5,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of C$26.00 per share, with a total value of C$129,999.00. In other Barrick Gold news, Director Andrew James Quinn purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of C$26.00 per share, with a total value of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total value of C$1,784,693.40. Corporate insiders own 0.61% 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.