Barrick Gold Corp. Lowered to Sell at Canaccord Genuity (ABX)
Barrick Gold Corp. (TSE:ABX) was downgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “sell” rating in a note issued to investors on Monday, American Banking & Market News reports. They currently have a C$17.50 price objective on the stock, down from their previous price objective of C$20.00. Canaccord Genuity’s price objective points to a potential downside of 11.71% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG cut their price target on shares of Barrick Gold Corp. from C$18.50 to C$17.00 in a research note to investors on Tuesday, December 3rd. They now have a “neutral” rating on the stock. Separately, analysts at TD Securities downgraded shares of Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research note to investors on Friday, November 15th. They now have a C$21.00 price target on the stock, down previously from C$25.00. Finally, analysts at Mackie raised their price target on shares of Barrick Gold Corp. from C$15.00 to C$16.50 in a research note to investors on Friday, November 1st. They now have a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of C$24.54.
Shares of Barrick Gold Corp. (TSE:ABX) traded down 2.57% on Monday, hitting $19.31. 672,823 shares of the company’s stock traded hands. Barrick Gold Corp. has a 1-year low of $14.22 and a 1-year high of $34.71. The stock has a 50-day moving average of $17.88 and a 200-day moving average of $18.37. The company’s market cap is $19.332 billion.
Barrick Gold Corporation (TSE:ABX) is engaged in the production and sale of gold, as well as related activities.
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