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

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ABX shares. UBS Group cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of Barrick Gold to C$21.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. TD Securities reiterated a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a research note on Wednesday, October 16th. Stifel Nicolaus dropped their price target on shares of Barrick Gold from C$33.50 to C$32.00 in a research note on Monday, December 2nd. 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 equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.17.

Barrick Gold Stock Up 0.2 %

The company has a 50 day moving average of C$24.92 and a 200-day moving average of C$25.22. 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 company has a market cap of C$39.55 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 45.38%.

Insiders Place Their Bets

In other Barrick Gold news, Director Dennis Mark Bristow purchased 85,296 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Also, Senior Officer Poupak Bahamin acquired 5,778 shares of the stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of C$25.03 per share, with a total value of C$144,645.87. Corporate 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.