Barrick Gold Corporation (ABX) : On Tuesday, The money flowed into the Barrick Gold Corporation (ABX) stock with an uptick to downtick ratio was recorded at 1.1. Transactions worth $54.19 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $49.48 million. The total money flow into the stock was $4.7 million. The block trades reveal a bullish bias with an up-down ratio of 1.89. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $10.3 million of block transactions on upticks. The value of block trades on downticks was $5.45 million, indicating lower selling interest. The total money flow in block trades was $4.85 million. In terms of price action, Barrick Gold Corporation (ABX) traded down $0.97 during the session at $17.42. Compared to the previous days closing, the stock was down only by -5.27%. For the week, the stock is -4.39%, over previous weeks closing.
Also, Morgan Stanley initiates coverage on Barrick Gold Corporation (NYSE:ABX). The current rating of the shares is Equal-weight, according to the research report released by the firm. The brokerage firm announces the price target at $20 per share. The rating by the firm was issued on August 9, 2016.
Barrick Gold Corporation has lost 13.19% in the last five trading days and dropped 21.55% in the last 4 weeks. Barrick Gold Corporation is up 3.19% in the last 3-month period. Year-to-Date the stock performance stands at 136.93%.
Barrick Gold Corporation (NYSE:ABX): The stock opened at $18.23 on Tuesday but the bulls could not build on the opening and the stock topped out at $18.25 for the day. The stock traded down to $17.28 during the day, due to lack of any buying support eventually closed down at $17.42 with a loss of -5.27% for the day. The stock had closed at $18.39 on the previous day. The total traded volume was 18,919,470 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.