Barrick Gold Corporation (ABX) has risen sharply, recording gains of 0.29% in the past 4 weeks. However, the stock has corrected -5.24% in the past 1 week, providing a good buying opportunity on dips. Barrick Gold Corporation (ABX) : During the past 4 weeks, traders have been relatively bearish on Barrick Gold Corporation (ABX), hence the stock is down -0.09% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -5.21% relative to the S&P 500.
Barrick Gold Corporation is up 13.37% in the last 3-month period. Year-to-Date the stock performance stands at 180.01%. The stock has recorded a 20-day Moving Average of 3.95% and the 50-Day Moving Average is 2.21%.
Barrick Gold Corporation (NYSE:ABX): The stock opened at $20.70 on Friday but the bulls could not build on the opening and the stock topped out at $20.77 for the day. The stock traded down to $20.47 during the day, due to lack of any buying support eventually closed down at $20.61 with a loss of -2.04% for the day. The stock had closed at $21.04 on the previous day. The total traded volume was 9,103,215 shares.
Also, Morgan Stanley initiates coverage on Barrick Gold Corporation (NYSE:ABX) . The global brokerage major announces a current price target of $20 per share. Analysts at the Morgan Stanley have a current rating of Equal-weight on the shares. The rating by the firm was issued on August 9, 2016.
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.