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Upgrade Alert for Barrick Gold (ABX)

By Nick Russo

Barrick Gold (NYSE:ABX) was upgraded from Hold to Buy at Jefferies today. The stock closed yesterday at $21.47 on volume of 21.1 million shares, above average daily volume of 19.1 million.

Based on a current price of $21.47, Barrick Gold is currently 57.3% above its average consensus analyst 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 share prices have moved between a 52-week high of $23.47 and a 52-week low of $5.91 and closed yesterday at 263% above that low price at $21.47 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.8% while the 200-day MA has risen 2.1%.

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

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 13.2%. 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