Sunday, June 26, 2022

Taking a Closer Look At Barrick Gold Corporation (GOLD) Following Its Recent Trade

Bernstein downgraded its Barrick Gold Corporation [GOLD] rating to a Mkt perform from a an Outperform in a research note published on Tuesday. A number of analysts have revised their coverage, including National Bank Financial’s analysts, who decreased its forecast for the stock in mid October from “an Outperform” to “a Sector perform”. KeyBanc Capital Markets began covering GOLD with a “Sector weight” recommendation on September 24, 2021.


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Price Performance Review of GOLD

On Tuesday, Barrick Gold Corporation [NYSE:GOLD] saw its stock jump 0.15% to $19.58. On the same session, the stock had its day’s lowest price of $19.55, but rose to a high of $19.86. Over the last five days, the stock has lost -2.68%. Barrick Gold Corporation shares have risen nearly 3.54% since the year began. Nevertheless, the stocks have fallen -5.65% over the past one year. While a 52-week high of $25.95 was reached on 03/08/22, a 52-week low of $17.19 was recorded on 01/07/22. SMA at 50 days reached $21.82, while 200 days put it at $20.61. A total of 24.01 million shares were traded, compared to the trading of 26.23 million shares in the previous session.

Levels Of Support And Resistance For GOLD Stock

The 24-hour chart illustrates a support level at 19.47, which if violated will result in even more drops to 19.35. On the upside, there is a resistance level at 19.78. A further resistance level may holdings at 19.97. The Relative Strength Index (RSI) on the 14-day chart is 39.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.53, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.82%. Stochastics %K at 24.24% indicates the stock is a holding.

Barrick Gold Corporation [GOLD] – Who Are The Largest Shareholders?

In filings from Van Eck Associates Corp., it is revealed that the company now owns 76,839,511 shares, or roughly 4.32% of the outstanding GOLD shares. In other words, the investor’s shares have fallen by -12,099,495 from its previous 13-F filing of 88939006.0. Additionally, Fidelity Management & Research Co increased 55.16% of its stake after which the total value it holdings stand at $1,497,385,555, while Capital Research & Management Co added 12.32% of its stake to hold $1.48 billion in the firm. Over the last quarter, Flossbach von Storch AG sold -9,692,905 shares of Barrick Gold Corporation, while RBC Global Asset Management, Inc. sold 1,895,417 shares. At present, The Vanguard Group, Inc. is holding 39,780,345 shares valued at $815.1 million. BlackRock Investment Management owned 35,899,139 shares of the company at the time of its most recent 13F filing, worth $735.57 million.

According to FactSet, Barrick Gold Corporation’s share price will average $28.02 in the next year, based on opinions of analysts polled by the firm. This is up nearly 43.22 percent from its previous closing price of $19.55. Analysts expect Barrick Gold Corporation stock to reach the higher price of $31.75, while the lowest price estimate is $21.50. However, 24 analysts have rated GOLD stock as an Overweight in their predictions for 2022.

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