African Barrick Gold Downgraded by Canaccord Genuity to Hold (ABG)
African Barrick Gold (LON:ABG) was downgraded by Canaccord Genuity to a “hold” rating in a research note issued on Wednesday, AmericanBankingNews.com reports. They currently have a GBX 180 ($2.97) target price on the stock, down from their previous target price of GBX 195 ($3.21). Canaccord Genuity’s price target would suggest a potential downside of 4.81% from the company’s current price.
A number of other analysts have also recently weighed in on ABG. Analysts at Liberum Capital downgraded shares of African Barrick Gold to a “sell” rating in a research note to investors on Wednesday. They now have a GBX 147 ($2.42) price target on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of African Barrick Gold from GBX 190 ($3.13) to GBX 180 ($2.97) in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of African Barrick Gold in a research note to investors on Tuesday. They now have a GBX 140 ($2.31) price target on the stock. Eight analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of GBX 178.60 ($2.94).
Shares of African Barrick Gold (LON:ABG) traded down 0.26% during mid-day trading on Wednesday, hitting GBX 189.10. 692,914 shares of the company’s stock traded hands. African Barrick Gold has a one year low of GBX 93.50 and a one year high of GBX 369.00. The stock’s 50-day moving average is GBX 173.8 and its 200-day moving average is GBX 158.1. The company’s market cap is £775.5 million.
African Barrick Gold Plc. (LON:ABG) is engaged in gold production on Tanzania.
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