Barrick Gold Corporation (USA) (ABX) Shares Surge As Gold Hits New 7-Month High

Share
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

The gold bulls are in full action today, and along with them they are taking mining companies such as Barrick Gold Corporation (USA) (NYSE:ABX). After a terrible end to 2015, gold prices are starting 2016 off on the right foot, today hitting a level of over $1,190 an oz, which has not been seen since late June of last year.

This surge in gold price has been a boon for shareholders of Barrick Gold Corporation (USA) (NYSE:ABX) as shares are now trading at their highest levels since May of last year. The stock is up over 50% in the last month alone, and some analysts believe that both Gold and share sof mining stocks could continue higher in the weeks to come. It will be interesting to see when a pullback may come and how gold will react to such a pullback. Could we see prices bounce significantly or is this yet another headfake in the precious metals market?The stock is currently trading higher by 4.30% or $0.5 following the positive news, hitting $12.14 per share at the time of us publishing this article. About 4.03M shares traded hands. ABX has risen 10.12% since July 2, 2015 and is uptrending. It has outperformed the S&P500 by 18.99%.

From a total of 11 analysts covering Barrick Gold Corp. (NYSE:ABX) stock, 4 rate it a “Buy”, 1 a “Sell”, and 6 a “Hold”. This means that 36% of the ratings are positive. The highest target price is $15 while the lowest target price is $7.50. The mean of all analyst targets is $10.29 which is -15.24% below today’s ($12.14) stock price. Barrick Gold Corp. was the topic of 20 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Sterne Agee CRT upgraded shares on January 8 to a “Buy” rating. JP Morgan maintained shares with a”Hold” rating and a $10.50 target share price in their report from an August 12. HSBC maintained ABX stock in a recent report from September 8 with a “Buy” rating. Finally, Deutsche Bank upgraded the stock to a “Buy” rating in a report they issued on an August 13.

Barrick Gold Corporation is a gold mining company. The company has a market cap of $14.72 billion. The Firm is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. It currently has negative earnings. The Firm operates in divisions: eight individual gold mines, Acacia and Pascua-Lama project.

#focuskw=’Barrick Gold Corporation (USA) (NYSE:ABX)’##metadesc=’The gold bulls are in full action today, and along with them they are taking mining companies such as Barrick Gold Corporation (USA) (NYSE:ABX). After a terrible end to 2015, gold prices are starting 2016 off on the right foot, today hitting a level of over $1,190 an oz, which has not been seen since late June of last year.This surge in gold price has been a boon for shareholders of Barrick Gold Corporation (USA) (NYSE:ABX) as shares are now trading at their highest levels since May of last year. The stock is up over 50% in the last month alone, and some analysts believe that both Gold and share sof mining stocks could continue higher in the weeks to come. It will be interesting to see when a pullback may come and how gold will react to such a pullback. Could we see prices bounce significantly or is this yet another headfake in the precious metals market?’##metarobot=’index’##newskw=’Zafgen Inc positive news,Zafgen Inc – (NASDAQ:ZFGN),NASDAQ:ZFGN Analyst rating analysis,Stock Analysis,Outlook and potential,ZFGN Price change and trend,ZFGN stock update’##sitemap=’include’##skipsocial##stockticker=’NYSE:ABX’#