Barrick Gold Corp. Gaps Down Today, Is Now One of The Worst Performers

 Barrick Gold Corp. Gaps Down Today, Is Now One of The Worst Performers

The stock of Barrick Gold Corp. (TSE:ABX) gapped down by $0.54 today and has $21.53 target or 6.00% below today’s $22.90 share price. The 5 months technical chart setup indicates high risk for the $27.41 billion company. The gap down was reported on Nov, 7 by Barchart.com. If the $21.53 price target is reached, the company will be worth $1.64 billion less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 1.79M shares traded hands. Barrick Gold Corp. (TSE:ABX) has risen 37.80% since April 1, 2016 and is uptrending. It has outperformed by 35.84% the S&P500.

Barrick Gold Corp. (TSE:ABX) Ratings Coverage

Out of 7 analysts covering Barrick Gold Corp. (TSE:ABX), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. $29 is the highest target while $9 is the lowest. The $19.36 average target is -15.46% below today’s ($22.9) stock price. Barrick Gold Corp. has been the topic of 21 analyst reports since July 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of ABX in a report on Friday, December 4 with “Sector Perform” rating. RBC Capital Markets maintained Barrick Gold Corp. (TSE:ABX) on Tuesday, February 23 with “Sector Perform” rating. The rating was maintained by RBC Capital Markets on Tuesday, October 25 with “Sector Perform”. As per Friday, July 22, the company rating was maintained by TD Securities. On Friday, July 31 the stock rating was upgraded by Canaccord Genuity to “Hold”. The rating was maintained by RBC Capital Markets on Friday, January 22 with “Sector Perform”. The stock of Barrick Gold Corp. (TSE:ABX) earned “Neutral” rating by JP Morgan on Thursday, February 4. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, September 2. The company was initiated on Friday, July 24 by IBC. The company was maintained on Monday, October 26 by RBC Capital Markets.

More notable recent Barrick Gold Corp. (TSE:ABX) news were published by: Fool.com which released: “Barrick Gold Corporation Q3 Report Leaves No Question Unanswered” on October 27, 2016, also Fool.ca with their article: “Barrick Gold Corp. or Kinross Gold Corporation: Which Is the Better Buy Right Now?” published on October 18, 2016, Fool.ca published: “Is it Time to Reconsider Barrick Gold Corp.?” on October 21, 2016. More interesting news about Barrick Gold Corp. (TSE:ABX) were released by: Nasdaq.com and their article: “One Put, One Call Option To Know About for Barrick Gold” published on October 31, 2016 as well as Gurufocus.com‘s news article titled: “Barrick Gold Corp: Update on the Sale of ABX’s 5…-Percent Stake in Kalgoorlie” with publication date: October 09, 2016.

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 $27.41 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.

ABX.TO Company Profile

Barrick Gold Corporation (Barrick), incorporated on March 10, 1995, is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The Firm produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. The Company’s divisions include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc (Acacia), Lumwana, Zaldivar and Pascua-Lama Project.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment