Barrick Gold Corporation (ABX) Receives ‘Analyst’ Rating

Barrick Gold Corporation (ABX) : 14 analysts are covering Barrick Gold Corporation (ABX) and their average rating on the stock is 2.71, which is read as a Hold. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 10 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

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 $21.01 with an expected fluctuation of $4.89 from the mean.


Also, Berenberg initiates coverage on Barrick Gold Corporation (NYSE:ABX). Berenberg has a Sell rating on the shares. The rating by the firm was issued on September 7, 2016.

Barrick Gold Corporation (NYSE:ABX): After opening at $17.15, the stock dipped to an intraday low of $17 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $18.2025 and the buying power remained strong till the end. The stock closed at $17.65 for the day, a gain of 2.68% for the day session. The total traded volume was 25,982,144. The stocks close on the previous trading day was $17.19.

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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