African Barrick Gold Price Target Increased to GBX 119 by Analysts at Citigroup Inc. (ABG)
Equities researchers at Citigroup Inc. raised their price target on shares of African Barrick Gold (LON:ABG) from GBX 93 ($1.49) to GBX 119 ($1.91) in a research report issued on Monday, ARN reports. The firm currently has a “sell” rating on the stock. Citigroup Inc.’s target price suggests a potential downside of 23.96% from the company’s current price.
A number of other analysts have also recently weighed in on ABG. Analysts at HSBC downgraded shares of African Barrick Gold (LON:ABG) to an “underweight” rating in a research note to investors on Monday, September 16th. They now have a GBX 170 ($2.72) price target on the stock. Separately, analysts at Investec downgraded shares of African Barrick Gold (LON:ABG) from a “hold” rating to a “sell” rating in a research note to investors on Tuesday, September 10th. They now have a GBX 137 ($2.19) price target on the stock, up previously from GBX 135 ($2.16). Finally, analysts at Davy Research raised their price target on shares of African Barrick Gold (LON:ABG) from GBX 190 ($3.04) to GBX 210 ($3.36) in a research note to investors on Thursday, August 29th. They now have an “outperform” rating on the stock.
Eight analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. African Barrick Gold presently has an average rating of “Hold” and an average target price of GBX 163.77 ($2.62).
African Barrick Gold (LON:ABG) traded up 0.26% during mid-day trading on Monday, hitting GBX 156.50. The stock had a trading volume of 1,064,183 shares. African Barrick Gold has a 52 week low of GBX 93.50 and a 52 week high of GBX 499.475. The stock’s 50-day moving average is GBX 156.1 and its 200-day moving average is GBX 156.4. The company’s market cap is £641.8 million.
African Barrick Gold Plc. (LON:ABG) is engaged in gold production on Tanzania.
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