Barrick Gold Corporation (ABX) 6 month trend could be turning

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Barrick Gold Corporation (ABX) shares are down this afternoon at 6.1950  down 0.1650 or (2.59%) on heavy trading volume of 8,203,268. Barrick Gold Corporation (ABX) opened up this morning at 6.43 inching to a high of 6.4950 for the day.

Barrick Gold Corporation (ABX) could be bottomed out. The 52 week high was $14.90 per share with a low of 5.91 per share. RBC Capital Market has a rating of sector perform at $8 to $10 per share and Barclays recently upgraded (ABX) Underweight → Equal Weight at $10 to $11 per share. 

In the most recent news Barrick is Offering to Buy Back $750 Million in Debt. The company will purchase as much as $750 million of notes, Tuesday in a statement. Barrick President Kelvin Dushnisky said this month the company is 90 percent through a $3 billion debt-reduction plan, and has had an “exceedingly high” level of interest for U.S. assets it has put up for sale.

Take a look at the 6 month chart Barrick Gold Corporation (ABX) could start turning the corner and trending up. Gold could start trending up as well in to the new year.

Barrick Gold Corp (ABX)

 

 

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