Jefferies Analysts Raises Barrick Gold Estimates (ABX)


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On Friday analysts at Jefferies raised estimates for the Barrick Gold Corporation ( ABX ) and reaffirmed "Buy" rating.

According to Jefferies, the Toronto based company is now seen reaching $50 per share. That is a 28% increase from Thursday's closing price of $38.92. The raise in EPS estimate is based on an overall rise in gold market estimations.

Jefferies also reaffirmed a "Buy" rating for the gold mining and sales company.

Barrick Gold shares were mostly flat in premarket trading on Friday.

The Bottom Line
Shares of Barrick Gold ( ABX ) have a 2.06% dividend yield, based on last night's closing stock price of $38.92. The stock has technical support in the $35 price area. If the shares can firm up, we see overhead resistance around the $40-$43 price levels.

Barrick Gold Corporation ( ABX ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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