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Upgrade Alert for Barrick Gold (ABX)

By Shiri Gupta

Barrick Gold (NYSE:ABX) was upgraded from Sector Performer to Outperformer at CIBC today. The stock closed yesterday at $21.11 on volume of 30.8 million shares, above average daily volume of 19.1 million.

Barrick Gold (NYSE:ABX) defies analysts with a current price ($21.11) 56.6% above its average consensus price target of $9.17. Barrick Gold shares have support at the 50-day moving average (MA) of $15.04 and additional support at the 200-day MA of $9.69.

Barrick Gold Corporation is an international gold company with operating mines and development projects in the United States, Canada, South America, Australia, and Africa.

Over the past year, Barrick Gold has traded in a range of $5.91 to $21.40 and closed yesterday at $21.11, 257% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 2.1% while the 50-day MA has advanced 2.8%.

SmarTrend recommended that subscribers consider buying shares of Barrick Gold on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.62. Since that recommendation, shares of Barrick Gold have risen 10.0%. We continue to monitor ABX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Barrick Gold

Ticker(s): ABX