Shares of Barrick Gold Corporation (ABX) Sees Large Inflow of Net Money Flow

Barrick Gold Corporation (ABX): $5.35 million was the positive money flow into the stock on Friday and the up/down ratio of ticks was also in favor of the bulls at 1.52. The value of trades done on upticks was $15.7 million, whereas, trades done on downticks were valued at $10.35 million. Money flows are calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades. large traders, also sometimes called as the smart money, block traded $5.14 million worth stocks on upticks, which is a bullish indication. The downticks accounted only for $0.89 million worth of block trades showing a lack of interest among the large traders to sell the stock down. The up/down ratio of 5.78 was strongly in favor of the bulls. The money flow in block trades was $4.25 million. Barrick Gold Corporation (ABX) fell $0.1 traded at $20.31, a change of -0.49% over the previous day. The stock is -5.09% for the week.


Barrick Gold Corporation (ABX) : The most positive equity analysts on Barrick Gold Corporation (ABX) expects the shares to touch $28, whereas, the least positive believes that the stock will trade at $11 in the short term. The company is covered by 12 Wall Street Brokerage Firms. The average price target for shares are $19.49 with an expected fluctuation of $5.25 from the mean.

Barrick Gold Corporation (NYSE:ABX): stock turned positive on Friday. Though the stock opened at $20.31, the bulls momentum made the stock top out at $20.72 level for the day. The stock recorded a low of $20.18 and closed the trading day at $20.55, in the green by 0.69%. The total traded volume for the day was 11,839,738. The stock had closed at $20.41 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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.