African Barrick Gold Lowered to “Sell” at Numis Securities Ltd (ABG)
African Barrick Gold (LON:ABG) was downgraded by analysts at Numis Securities Ltd to a “sell” rating in a research report issued to clients and investors on Monday, American Banking and Market News reports. They currently have a GBX 120 ($1.98) price objective on the stock. Numis Securities Ltd’s price target points to a potential downside of 35.79% from the stock’s previous close.
Shares of African Barrick Gold (LON:ABG) opened at 183.30 on Monday. African Barrick Gold has a 1-year low of GBX 93.50 and a 1-year high of GBX 369.40. The stock’s 50-day moving average is GBX 172.2 and its 200-day moving average is GBX 155.7. The company’s market cap is £751.7 million.
A number of other analysts have also recently weighed in on ABG. Analysts at Barclays raised their price target on shares of African Barrick Gold from GBX 100 ($1.65) to GBX 200 ($3.30) in a research note to investors on Friday. They now have an “underweight” rating on the stock. Separately, analysts at Westhouse Securities reiterated a “neutral” rating on shares of African Barrick Gold in a research note to investors on Wednesday, January 8th. They now have a GBX 170 ($2.80) price target on the stock. Finally, analysts at Canaccord Genuity upgraded shares of African Barrick Gold to a “buy” rating in a research note to investors on Friday, December 20th. They now have a GBX 195 ($3.21) price target on the stock, up previously from GBX 125 ($2.06). Seven analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of GBX 179.92 ($2.97).
African Barrick Gold Plc. (LON:ABG) is engaged in gold production on Tanzania.
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