JPMorgan Chase & Co (NYSE:JPM) cuts-down Barrick Gold’s PT – ABX


Dallas, Texas 09/24/2013 (Financialstrend) – JPMorgan Chase & Co (NYSE:JPM) cut the PT on Barrick Gold Corporation (USA) (NYSE:ABX) shares from $22.00 to $19.00 last Thursday and has set a “neutral” rating on the stock. Numerous other analysts have also weighed on the company’s stock recently. Salman Partners analysts downgraded Barrick Gold Corporation (NYSE:ABX) shares to a “hold” rating on 22 August. TD Securities analysts upgraded the company’s shares from a “hold” to a “buy” rating on 21st August and have set a $25.00 PT on the stock which previously stood at $19.00.

 More analysts speak

 Credit Suisse analysts upped PT on Barrick Gold Corporation (USA) (NYSE:ABX) shares from $20.00 to $22.00 on 13 August and have a “neutral” rating on the company’s stock.

Two research-analysts have assigned a “sell” rating, 16 have set a “hold” rating and 7 have given a “buy” rating to Barrick Gold Corporation (USA) (NYSE:ABX). Currently the average rating on the stock is a “hold” and the average PT is $25.31.

 Monday’s trading

 In Monday’s trading session, Barrick Gold Corporation (USA) (NYSE:ABX) stock dropped by 1.40%. The opening price of the shares was $18.56 which climbed to an intraday high of $19.00 and dropped to a close of $18.35. Approximately 14.64 million shares were traded on Monday. An average volume of 18.64 million shares were traded over 30 days. The 52-week low of the shares is $13.43 and the 52-week low is $18.64. Barrick Gold Corporation (USA) (NYSE:ABX) has a market capitalization of $18.37 billion.

 About the company

 Barrick Gold Corporation (USA) (NYSE:ABX) is involved in producing and selling gold. It is also engaged in numerous other related activities like mine development and exploration. In addition, the company is also a producer of copper. This production is mainly from the Lumwana and Zaldivar mines. Barrick Gold Corporation (USA) (NYSE:ABX) also holds some other interests such as a nickel-development project which is located in Africa.