Barrick Gold Corp. Can’t Be More Hot. Just Reaches 52-Week High

The stock of Barrick Gold Corp. (TSE:ABX) hit a new 52-week high and has $32.47 target or 65.00% above today’s $19.68 share price. The 6 months bullish chart indicates low risk for the $24.08B company. The 1-year high was reported on Mar, 17 by If the $32.47 price target is reached, the company will be worth $15.65 billion more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock is down 1.25% or $0.25 after the news, hitting $19.68 per share. About 4.74M shares traded hands. Barrick Gold Corp. (TSE:ABX) has risen 98.31% since August 11, 2015 and is uptrending. It has outperformed by 101.04% the S&P500.

Out of 20 analysts covering Barrick Gold Corp. (TSE:ABX), 7 rate it “Buy”, 0 “Sell”, while 12 “Hold”. This means 37% are positive. $20 is the highest target while $10.48 is the lowest. The $13.87 average target is -22.51% below today’s ($19.68) stock price. Barrick Gold Corp. was the topic in 14 analyst reports since July 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock on February 23 with “Sector Perform” rating. IBC initiated the shares of ABX in a report on July 24 with “Sector Perform” rating.

Barrick Gold Corporation is a gold mining company. The company has a market cap of $24.08 billion. The Firm is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. It currently has negative earnings. The Firm operates in divisions: eight individual gold mines, Acacia and Pascua-Lama project.

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