Zacks Rating 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 2, which recommends a Buy 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 level Barrick Gold Corporation (ABX) is projected to reach is $28 for the short term and the lowest estimate is at $11. The consolidated price target from 13 rating analysts who initiate coverage on the stock is $21.01 and the possibility the share price can swing is $4.89.


Barrick Gold Corporation has dropped 5.77% in the last five trading days, however, the shares have posted positive gains of 1.31% in the last 4 weeks. Barrick Gold Corporation is up 18.94% in the last 3-month period. Year-to-Date the stock performance stands at 172.95%. Barrick Gold Corporation (NYSE:ABX): On Tuesdays trading session , Opening price of the stock was $20.47 with an intraday high of $20.6. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $20.05. However, the stock managed to close at $20.09, a loss of 1.47% for the day. On the previous day, the stock had closed at $20.39. The total traded volume of the day was 10,539,370 shares.

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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