Barrick Gold (TSE:ABX) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Barrick Gold Co. (TSE:ABX) (NYSE:ABX)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$57.42 and traded as high as C$61.70. Barrick Gold shares last traded at C$60.52, with a volume of 2,257,667 shares traded.

Analysts Set New Price Targets

ABX has been the topic of several recent analyst reports. ATB Cormark Capital Markets cut their price target on shares of Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 11th. Canaccord Genuity Group boosted their target price on shares of Barrick Gold from C$68.00 to C$73.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. National Bank Financial boosted their target price on shares of Barrick Gold from C$67.50 to C$70.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Barclays upped their target price on shares of Barrick Gold from C$55.00 to C$58.00 in a research note on Thursday, August 13th. Finally, Raymond James Financial reduced their price target on shares of Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Gold presently has a consensus rating of “Buy” and a consensus target price of C$67.67.

Barrick Gold Stock Performance

The company has a 50-day moving average of C$56.94 and a 200-day moving average of C$57.42. The firm has a market capitalization of C$99.61 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 2.34 and a beta of 1.68. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 17.15.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 EPS for the quarter. Barrick Gold had a net margin of 31.60% and a return on equity of 24.57%. The firm had revenue of C$6.06 billion during the quarter. On average, equities research analysts forecast that Barrick Gold Co. will post 2.2422764 earnings per share for the current fiscal year.

Insider Transactions at Barrick Gold

In related news, Director Mark Francis Hill sold 36,969 shares of the stock in a transaction dated Friday, June 19th. The shares were sold at an average price of C$55.93, for a total transaction of C$2,067,676.17. Following the sale, the director owned 343,629 shares in the company, valued at C$19,219,169.97. This represents a 9.71% decrease in their ownership of the stock. Also, insider Sarah Anna Ball Teslik bought 12,613 shares of the business’s stock in a transaction on Friday, August 21st. The stock was acquired at an average cost of C$67.27 per share, for a total transaction of C$848,476.51. Following the acquisition, the insider directly owned 12,613 shares of the company’s stock, valued at C$848,476.51. The trade was a ∞ increase in their ownership of the stock. In the last three months, insiders have sold 121,874 shares of company stock worth $7,735,061. 0.60% of the stock is currently owned by insiders.

About Barrick Gold

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry – including six of the world’s Tier One gold mines -Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.