Large Inflow of Money Detected in Barrick Gold Corporation

Barrick Gold Corporation (ABX) : $40.98 million worth of transactions were on upticks in Barrick Gold Corporation (ABX), compared to $25.59 million on downticks. The ratio between the two was 1.6, whereas, the net money flow stood at a healthy $15.39 million on Thursdays session.The block trades show a bullish bias with only $2.06 million worth of transactions done on downticks. The consistent buying on upticks in the stock accounted for $16.96million worth of trades. The up-down ratio between the uptick and downtick was 8.23, confirming that the stronger hands have been buying the stock on every weakness. The total money flow into the stock stood at $14.9 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.34%. The stock was trading at $21.01, with a drop of $0.07 over the previous days close. The stock recorded -5.87% for the week.


The stock has recorded a 20-day Moving Average of 2.46% and the 50-Day Moving Average is 11.21%. Shares have rallied 122.85% from its 1 Year high price. On Jul 6, 2016, the shares registered one year high at $23.47 and the one year low was seen on Sep 23, 2015. The 50-Day Moving Average price is $19.68 and the 200 Day Moving Average price is recorded at $14.92.

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 $20.57 and $20.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.49. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.47, notching a gain of 1.85% for the day. The total traded volume was 21,128,755 . The stock had closed at $21.08 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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