Goldman Sachs Group Inc. Reiterates Sell Rating for African Barrick Gold (ABG)
African Barrick Gold (LON:ABG)‘s stock had its “sell” rating restated by research analysts at Goldman Sachs Group Inc. in a report released on Tuesday, Analyst Ratings Network reports. They currently have a GBX 140 ($2.31) price objective on the stock. Goldman Sachs Group Inc.’s price target points to a potential downside of 27.57% from the stock’s previous close.
Shares of African Barrick Gold (LON:ABG) traded up 2.22% during mid-day trading on Tuesday, hitting GBX 193.30. 436,130 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 174.6 and its 200-day moving average is GBX 158.4. The company’s market cap is £792.7 million.
Several other analysts have also recently commented on the stock. Analysts at Numis Securities Ltd downgraded shares of African Barrick Gold to a “sell” rating in a research note to investors on Monday. They now have a GBX 120 ($1.98) price target on the stock. Separately, 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, January 10th. They now have an “underweight” rating on the stock. Finally, 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. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of GBX 178.60 ($2.94).
African Barrick Gold Plc. (LON:ABG) is engaged in gold production on Tanzania.
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