Analyst Rating Update on Barrick Gold Corporation (ABX)

Barrick Gold Corporation (ABX) : 4 brokerage houses believe that Barrick Gold Corporation (ABX) is a Strong Buy at current levels. 10 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Barrick Gold Corporation (ABX). Zacks Investment Research suggests a Buy with a rank of 2. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 15 Wall Street Analysts endorse the stock as a Hold with a rating of 2.6.

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 13 Wall Street Brokerage Firms. The average price target for shares are $20.24 with an expected fluctuation of $4.89 from the mean.

Company shares have received an average consensus rating of Hold for the current week Also, Deutsche Bank maintains their rating on the shares of Barrick Gold Corporation (NYSE:ABX). The current rating of the shares is Hold. Equity Analysts at the Firm raises the price target to $22 per share from $20 per share. The rating by the firm was issued on July 29, 2016.


Barrick Gold Corporation (NYSE:ABX): The stock opened at $22.54 on Wednesday but the bulls could not build on the opening and the stock topped out at $22.57 for the day. The stock traded down to $22.08 during the day, due to lack of any buying support eventually closed down at $22.42 with a loss of -1.19% for the day. The stock had closed at $22.69 on the previous day. The total traded volume was 11,678,952 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.

Leave a Reply

Get Pre-Market Alerts!

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