Barrick Gold (TSE:ABX) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) shares 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 changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABX. Stifel Nicolaus decreased their price objective on shares of Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Sanford C. Bernstein dropped 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 cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, TD Securities reaffirmed a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.00.

Barrick Gold Stock Performance

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. The business has a 50 day moving average price of C$26.01 and a two-hundred day moving average price of C$25.28. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01.

Barrick Gold Cuts Dividend

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

Insider Transactions at Barrick Gold

In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. Also, Senior Officer Poupak Bahamin sold 2,500 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total value of C$61,215.00. Over the last 90 days, insiders have sold 143,834 shares of company stock worth $4,017,999. 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.