African Barrick Gold Lowered to Sell at Investec (ABG)
African Barrick Gold (LON:ABG) was downgraded by analysts at Investec from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ARN reports. They currently have a GBX 137 ($2.14) price target on the stock, up from their previous price target of GBX 135 ($2.11). Investec’s price objective would suggest a potential downside of 17.67% from the stock’s previous close.
Shares of African Barrick Gold (LON:ABG) traded down 9.37% on Tuesday, hitting GBX 166.40. The stock had a trading volume of 5,330,227 shares. African Barrick Gold has a 1-year low of GBX 93.50 and a 1-year high of GBX 499.475. The stock’s 50-day moving average is GBX 147. and its 200-day moving average is GBX 161.. The company’s market cap is £682.4 million.
A number of other firms have also recently commented on ABG. Analysts at Davy Research raised their price target on shares of African Barrick Gold (LON:ABG) from GBX 190 ($2.97) to GBX 210 ($3.28) in a research note to investors on Thursday, August 29th. They now have an “outperform” rating on the stock. Separately, analysts at Canaccord Genuity downgraded shares of African Barrick Gold (LON:ABG) from a “hold” rating to a “sell” rating in a research note to investors on Tuesday, August 27th. They now have a GBX 125 ($1.95) price target on the stock, down previously from GBX 200 ($3.13). Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of African Barrick Gold (LON:ABG) in a research note to investors on Thursday, August 22nd. They now have a GBX 110 ($1.72) price target on the stock.
Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. African Barrick Gold currently has an average rating of “Hold” and a consensus target price of GBX 159.17 ($2.49).
African Barrick Gold Plc. (LON:ABG) is engaged in gold production on Tanzania.
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