Is Buying Stock Like Barrick Gold Corporation (USA) Good Idea After Today’s Bearish Options Activity?

 Is Buying Stock Like Barrick Gold Corporation (USA) Good Idea After Today's Bearish Options Activity?

In today’s session Barrick Gold Corporation (USA) (ABX) recorded an unusually high (3,400) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2018 put, expecting serious ABX decrease. With 3,400 contracts traded and 61694 open interest for the Jan, 18 contract, it seems this is a quite bearish bet. The option with symbol: ABX180119P00010000 closed last at: $0.72 or 11.1% down. About 2.34M shares traded hands. Barrick Gold Corporation (USA) (NYSE:ABX) has declined 2.91% since April 18, 2016 and is downtrending. It has underperformed by 7.34% the S&P500.

Barrick Gold Corporation (USA) (NYSE:ABX) Ratings Coverage

Out of 22 analysts covering Barrick Gold Corp. (NYSE:ABX), 11 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 50% are positive. Barrick Gold Corp. has been the topic of 46 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Clarkson Capital given on Tuesday, February 16. The stock of Barrick Gold Corporation (USA) (NYSE:ABX) has “Equal-Weight” rating given on Tuesday, August 9 by Morgan Stanley. The firm has “Buy” rating given on Friday, January 8 by Sterne Agee CRT. The stock has “Buy” rating given by Clarkson Platou on Monday, April 18. Barclays Capital downgraded Barrick Gold Corporation (USA) (NYSE:ABX) on Friday, August 7 to “Equal Weight” rating. The firm earned “Neutral” rating on Wednesday, August 19 by Macquarie Research. As per Wednesday, September 7, the company rating was initiated by Berenberg. The rating was downgraded by Canaccord Genuity on Tuesday, May 3 to “Hold”. On Monday, August 17 the stock rating was maintained by Sterne Agee CRT with “Neutral”. Deutsche Bank upgraded Barrick Gold Corporation (USA) (NYSE:ABX) on Thursday, August 13 to “Buy” rating.

According to Zacks Investment Research, “Barrick Gold Corporation is a leading international gold producer with low-cost mines in North and South America.”

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 $17.22 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 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.

More notable recent Barrick Gold Corporation (USA) (NYSE:ABX) news were published by: Investorplace.com which released: “Why Barrick Gold Corporation (USA) (ABX), Sturm Ruger & Company Inc (RGR) and …” on November 10, 2016, also Investorplace.com with their article: “Barrick Gold Corporation (USA) (ABX)” published on August 24, 2016, Investorplace.com published: “Barrick Gold Corporation (USA): 3 Pros, 3 Cons of ABX Stock” on September 08, 2016. More interesting news about Barrick Gold Corporation (USA) (NYSE:ABX) were released by: Investorplace.com and their article: “Trade of the Day: Barrick Gold Corporation (USA) (NYSE:ABX)” published on October 10, 2016 as well as Investorplace.com‘s news article titled: “Why EarthLink Holdings Corp. (ELNK), GoPro Inc (GPRO) and Barrick Gold …” with publication date: November 07, 2016.

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