Brokerage Firm Rating Update on Barrick Gold Corporation (ABX)

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 highest short term price target forecast on Barrick Gold Corporation (ABX) is $28 and the lowest target price is $11. A total of 13 equity analysts are currently covering the company. The average price of all the analysts is $21.01 with a standard deviation of $4.89.


Company shares have received an average consensus rating of Hold for the current week Also, Morgan Stanley initiates coverage on Barrick Gold Corporation (NYSE:ABX) The current rating of the shares is Equal-weight. Equity Analysts at the Firm announces the price target to $20 per share. The rating by the firm was issued on August 9, 2016.

Barrick Gold Corporation (NYSE:ABX): stock was range-bound between the intraday low of $18.45 and the intraday high of $19.01 after having opened at $18.95 on Wednesdays session. The stock finally closed in the red at $18.95, a loss of -0.68%. The stock remained in the red for the whole trading day. The total traded volume was 12,274,574 shares. The stock failed to cross $19.01 in Wednesdays trading. The stocks closing price on Thursday was $19.04.

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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