Company Shares of Barrick Gold Corporation Rally 2.55%

Barrick Gold Corporation (NYSE:ABX) has climbed 2.55% in the past week and advanced 10.5% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 3.78% and the outperformance has advanced to 9.49% for the last 4 weeks period.

Barrick Gold Corporation (NYSE:ABX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.41 and $19.81 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $20.52. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.11, notching a gain of 0.25% for the day. The total traded volume was 34,176,808 . The stock had closed at $20.06 on the previous day.

The company shares have rallied 80.20% from its 1 Year high price. On Jun 16, 2016, the shares registered one year high at $21.40 and the one year low was seen on Sep 23, 2015. The 50-Day Moving Average price is $18.45 and the 200 Day Moving Average price is recorded at $13.28.

Many analysts have stated their opinion on the company shares. Brokerage firm Goldman Sachs maintains its rating on Barrick Gold Corporation (NYSE:ABX). As per the latest information, the brokerage house raises the price target to $23 per share from a prior target of $22. The shares have been rated Buy. The rating by the firm was issued on June 8, 2016. Institutional Investors own 58.09% of Barrick Gold Corporation shares.

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.

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