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Barrick Gold (ABX) Surges: Stock Moves 5.4% Higher

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Barrick Gold Corporation ABX was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $9.76 to 10.62 in the past one-month time frame.

The move came after the company agreed to acquire its rival Randgold Resources through a share-for-share merger deal.

The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Barrick Gold currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.  

Barrick Gold Corporation Price

Barrick Gold Corporation Price | Barrick Gold Corporation Quote

A better-ranked stock in the Mining - Gold industry is Northern Dynasty Minerals, Ltd. NAK, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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