Barrick Gold Corporation (ABX) Receives Price Target

Barrick Gold Corporation (ABX) : The consensus price target for Barrick Gold Corporation (ABX) is $21.01 for the short term with a standard deviation of $4.89. The most optimist securities analyst among the 13 who monitor the stock believes that the stock can reach $28, however, the pessimist price target for the company is $11.

Barrick Gold Corporation (ABX) : Zacks Investment Research ranks Barrick Gold Corporation (ABX) as 2, which is a Buy recommendation. 3 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 10 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 2.71, which indicates as a Hold.


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 (NYSE:ABX): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.88 and $16.76 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.97. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.80, notching a gain of 4.64% for the day. The total traded volume was 22,559,096 . The stock had closed at $17.01 on the previous day.

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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