Barrick Gold (TSE:ABX) Shares Cross Above 200-Day Moving Average – Time to Sell?

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$58.24 and traded as high as C$60.53. Barrick Gold shares last traded at C$59.76, with a volume of 3,797,133 shares changing hands.

Analysts Set New Price Targets

ABX has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Citigroup upgraded shares of Barrick Gold to a “hold” rating in a research note on Thursday, September 3rd. Freedom Broker downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Stifel Nicolaus decreased their price target on shares of Barrick Gold from C$90.00 to C$84.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Finally, Barclays raised their price target on shares of Barrick Gold from C$55.00 to C$58.00 in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$66.27.

Barrick Gold Stock Performance

The company has a debt-to-equity ratio of 16.97, a current ratio of 2.73 and a quick ratio of 2.62. The firm has a market capitalization of C$90.67 billion, a PE ratio of 14.24, a P/E/G ratio of 2.34 and a beta of 1.86. The company’s fifty day simple moving average is C$57.75 and its 200 day simple moving average is C$58.11.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. Barrick Gold had a net margin of 30.30% and a return on equity of 24.16%. The firm had revenue of C$6.06 billion during the quarter. As a group, equities research analysts expect that Barrick Gold Co. will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Barrick Gold news, Director Mark Francis Hill sold 174,778 shares of the business’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of C$59.47, for a total transaction of C$10,394,047.66. Following the sale, the director owned 125,914 shares of the company’s stock, valued at C$7,488,105.58. The trade was a 58.13% decrease in their position. Also, insider Sarah Anna Ball Teslik bought 12,613 shares of the stock in a transaction on Friday, August 21st. The shares were 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 in the company, valued at approximately C$848,476.51. This trade represents a ∞ increase in their ownership of the stock. 0.60% of the stock is owned by insiders.

Barrick Gold Company Profile

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.