Barrick Gold (TSE:ABX) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.42 and traded as high as C$29.39. Barrick Gold shares last traded at C$28.64, with a volume of 4,255,332 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABX. BMO Capital Markets raised Barrick Gold to a “hold” rating in a research report on Tuesday. Scotiabank cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a research note on Friday, March 21st. Royal Bank of Canada boosted their target price on Barrick Gold to C$19.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group cut their price target on Barrick Gold from C$33.50 to C$30.00 in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target of C$33.33.

Barrick Gold Price Performance

The company has a market cap of C$33.98 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 2.34 and a beta of 0.48. The company’s 50 day moving average price is C$26.71 and its 200-day moving average price is C$25.42. The company has a debt-to-equity ratio of 19.83, a quick ratio of 2.62 and a current ratio of 2.65.

Insider Buying and Selling

In related news, Director Dennis Mark Bristow bought 230,872 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was bought at an average price of C$25.71 per share, with a total value of C$5,936,042.34. Also, Senior Officer Poupak Bahamin sold 17,633 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$25.96, for a total transaction of C$457,781.77. Insiders own 0.60% of the company’s stock.

About Barrick Gold

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.