Barrick Gold Corporation (ABX) : 12 investment research analysts covering Barrick Gold Corporation (ABX) have an average price target of $17.69 for the near short term. The highest target price given by the Brokerage Firm to the stock is $28 and the lowest target is $11 for the short term. Analysts expect the variance to be within $4.85 of the average price.
Barrick Gold Corporation (ABX) has shown a rise of 3.8% or 1,038,094 shares in the short positions. The bets have increased to 28,140,143 shares on June 30,2016 from 27,102,049 shares on June 15,2016. With respect to the floated shares, the shorts are 2.4%. The days to cover are calculated to be 1, using the standard per day volume of 22,133,169 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Major Brokerage house, CIBC upgrades its ratings on Barrick Gold Corporation (NYSE:ABX). According to the latest information available, the shares are now rated Outperform by the analysts at the agency. The rating by the firm was issued on June 27, 2016.
Barrick Gold Corporation (NYSE:ABX): stock turned positive on Thursday. Though the stock opened at $20.57, the bulls momentum made the stock top out at $21.49 level for the day. The stock recorded a low of $20.35 and closed the trading day at $21.47, in the green by 1.85%. The total traded volume for the day was 21,128,755. The stock had closed at $21.08 in the previous days trading.
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company operates in segments: eight individual gold mines, Acacia and Pascua-Lama project. The remaining operating segments have been grouped into two other categories: its remaining gold mines and its two copper mines. The Company sells its production in the world market through the distribution channels: gold bullion is sold in the gold spot market; gold and copper concentrate is sold to independent smelting companies, and copper cathode is sold to various manufacturers and traders. The Company has 14 producing gold mines, located in Canada, the United States, Peru, Argentina, Australia, the Dominican Republic and Papua New Guinea. It also holds a 63.9% equity interest in Acacia Mining plc (Acacia) that owns gold mines and exploration properties in Africa.