African Barrick Gold Downgraded by HSBC to “Underweight” (ABG)
African Barrick Gold (LON:ABG) was downgraded by equities research analysts at HSBC to an “underweight” rating in a research note issued to investors on Wednesday, Analyst RN reports. They currently have a GBX 160 ($2.63) price objective on the stock, down from their previous price objective of GBX 200 ($3.28). HSBC’s price target would indicate a potential downside of 22.52% from the stock’s previous close.
A number of other analysts have also recently weighed in on ABG. Analysts at JPMorgan Chase & Co. raised their price target on shares of African Barrick Gold from GBX 170 ($2.79) to GBX 200 ($3.28) in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of African Barrick Gold from GBX 220 ($3.61) to GBX 250 ($4.10) in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Westhouse Securities downgraded shares of African Barrick Gold to a “sell” rating in a research note to investors on Monday. They now have a GBX 160 ($2.63) price target on the stock, down previously from GBX 170 ($2.79). Ten equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of GBX 179.13 ($2.94).
Shares of African Barrick Gold (LON:ABG) opened at 201.20 on Wednesday. African Barrick Gold has a 52-week low of GBX 93.50 and a 52-week high of GBX 369.00. The stock’s 50-day moving average is GBX 177.1 and its 200-day moving average is GBX 160.8. The company’s market cap is £825.1 million.
African Barrick Gold Plc. (LON:ABG) is engaged in gold production on Tanzania.
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