Shares of Barrick Gold Corporation (ABX) Sees Large Inflow of Net Money Flow

Barrick Gold Corporation (ABX) : The money flow analysis of Barrick Gold Corporation (ABX) indicates a $10.71 million of outflow was on downticks, whereas, the investors on Wednesday gobbled up stocks worth $15.99 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 1.49 and so was the total money flow at $5.28 million. A solid up-down ratio of 14.1 in block trades indicates that the investors are accumulating the stock on weakness. The bulls lapped up $5.7 million worth of block trades on upticks. Only $0.4 million worth of the stock exchanged hands on downticks. The money flow was $5.3 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of Barrick Gold Corporation (ABX), pushing it down by -0.06% for the day. The stock slid $0.01 and traded at $17.59 during the day. Nonetheless, the stock is -2.87% over the previous weeks close.


Barrick Gold Corporation has lost 3.58% in the last five trading days and dropped 2.01% in the last 4 weeks. Barrick Gold Corporation has dropped 13.14% during the last 3-month period . Year-to-Date the stock performance stands at 145.09%.

Barrick Gold Corporation (ABX) has an average broker rating of 2.87, which is interpreted as a Hold, as rated by 15 equity analysts. Nonetheless, 3 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 10 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 1, which is also a Strong Buy. 2 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

Barrick Gold Corporation (NYSE:ABX): The stock opened at $17.61 and touched an intraday high of $18.19 on Wednesday. During the day, the stock corrected to an intraday low of $17.29, however, the bulls stepped in and pushed the price higher to close in the green at $18.02 with a gain of 2.39% for the day. The total traded volume for the day was 11,931,302. The stock had closed at $17.6 in the previous trading session.

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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