Price Target Update on Barrick Gold Corporation (NYSE:ABX)

Barrick Gold Corporation (NYSE:ABX) : The highest level Barrick Gold Corporation (NYSE:ABX) is projected to reach is $22 for the short term and the lowest estimate is at $11. The consolidated price target from 12 rating analysts who initiate coverage on the stock is $16.19 and the possibility the share price can swing is $3.49.

Other Equity analysts have also commented 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.

Barrick Gold Corporation (NYSE:ABX): On Thursdays trading session , Opening price of the stock was $19.44 with an intraday high of $19.77. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $19.26. However, the stock managed to close at $19.35, a loss of 1.53% for the day. On the previous day, the stock had closed at $19.65. The total traded volume of the day was 10,314,789 shares.

The company shares have rallied 78.80% 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 $18.50 and the 200 Day Moving Average price is recorded at $13.58.

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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