Barrick Gold (TSE:ABX) Stock Passes Below 200-Day Moving Average – What’s Next?

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$25.19 and traded as low as C$22.22. Barrick Gold shares last traded at C$22.23, with a volume of 3,374,145 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. TD Securities reissued a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Barrick Gold to C$21.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Sanford C. Bernstein reduced their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. Finally, Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$30.17.

Barrick Gold Stock Down 2.9 %

The firm has a market capitalization of C$38.90 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.34 and a beta of 0.48. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. The company’s 50 day moving average price is C$24.18 and its 200 day moving average price is C$25.19.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a yield of 2.43%. Barrick Gold’s dividend payout ratio is currently 45.38%.

Insider Activity

In other Barrick Gold news, Director Dennis Mark Bristow acquired 85,296 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were acquired 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 business’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of C$25.03 per share, for a total transaction of C$144,645.87. Corporate insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.