Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late February. As of January 08, 2024, Bernstein has decreased its “an Outperform” rating to a “Mkt perform” for GOLD. Earlier on February 13, 2023, Exane BNP Paribas downgraded its rating. Their new recommendation was “a Neutral” for GOLD stock which previously was a “an Outperform”.
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Analyzing GOLD Stock Performance
During the last five days, there has been a surge of approximately 3.38%. Over the course of the year, Barrick Gold Corp. shares have dropped approximately -10.39%. Shares of the company reached a 52-week high of $18.23 on 01/02/24 and a 52-week low of $13.76 on 02/14/24. A 50-day SMA is recorded $15.29, while a 200-day SMA reached $16.18. Nevertheless, trading volume fell to 28.0 million shares from 13.64 million shares the previous day.
Support And Resistance Levels for Barrick Gold Corp. (GOLD)
According to the 24-hour chart, there is a support level at 15.81, which, if violated, would cause prices to drop to 15.40. In the upper region, resistance lies at 16.41. The next price resistance is at 16.61. RSI (Relative Strength Index) is 61.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 3.77%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Barrick Gold Corp. subject to short interest?
Stocks of Barrick Gold Corp. saw a sharp rise in short interest on Feb 29, 2024 jumping by 3.54 million shares to 15.61 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 12.07 million shares. A jump of 22.68% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.79.
