African Barrick Gold Upgraded to “Hold” by Canaccord Genuity (ABG)
African Barrick Gold (LON:ABG) was upgraded by equities researchers at Canaccord Genuity to a “hold” rating in a research report issued on Wednesday, Analyst Ratings News reports. The firm currently has a GBX 125 ($2.02) price objective on the stock. Canaccord Genuity’s price target points to a potential downside of 26.51% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Investec reiterated a “sell” rating on shares of African Barrick Gold in a research note to investors on Wednesday. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of African Barrick Gold in a research note to investors on Friday, October 25th. They now have a GBX 270 ($4.37) price target on the stock. Finally, analysts at HSBC reiterated a “neutral” rating on shares of African Barrick Gold in a research note to investors on Monday, October 21st. They now have a GBX 170 ($2.75) price target on the stock. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 163.60 ($2.65).
African Barrick Gold (LON:ABG) traded up 14.06% on Wednesday, hitting GBX 193.90. 1,102,793 shares of the company’s stock traded hands. African Barrick Gold has a 1-year low of GBX 93.50 and a 1-year high of GBX 463.80. The stock has a 50-day moving average of GBX 162.3 and a 200-day moving average of GBX 146.. The company’s market cap is £795.2 million.
African Barrick Gold Plc. (LON:ABG) is engaged in gold production on Tanzania.
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