The stock of Barrick Gold Corporation (NYSE:ABX) registered an increase of 8.54% in short interest. ABX’s total short interest was 21.61M shares in September as published by FINRA. Its up 8.54% from 19.91 million shares, reported previously. With 16.77 million shares average volume, it will take short sellers 1 days to cover their ABX’s short positions. The short interest to Barrick Gold Corporation’s float is 1.86%. About 7.50M shares traded hands. Barrick Gold Corporation (USA) (NYSE:ABX) has risen 49.20% since February 8, 2016 and is uptrending. It has outperformed by 32.71% the S&P500.
Barrick Gold Corporation is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The company has a market cap of $20.45 billion. The Firm produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. It currently has negative earnings. Barricks’ divisions include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc, Lumwana, Zaldivar and Pascua-Lama Project.
Out of 19 analysts covering Barrick Gold (NYSE:ABX), 9 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 47% are positive. $29 is the highest target while $7.50 is the lowest. The $15.21 average target is -12.08% below today’s ($17.3) stock price. Barrick Gold has been the topic of 31 analyst reports since September 18, 2015 according to StockzIntelligence Inc. Berenberg initiated the stock on September 7 with “Sell” rating. JP Morgan maintained it with “Neutral” rating and $14 target price in a March 15 report. Morgan Stanley initiated the shares of ABX in a report on August 9 with “Equal-Weight” rating. Argus Research upgraded the firm’s rating on March 15. Argus Research has “Buy” rating and $18 price target. Lastly, Jefferies upgraded the stock to “Buy” rating in a July 14 report.
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