Barrick Gold Stock Slips on Bear Note, Rising Bond Yields

The equity is off roughly 30% in the last 12 months

Digital Content Manager
Oct 15, 2021 at 9:32 AM
facebook twitter linkedin


The shares of Barrick Gold Corp (NYSE:GOLD) are down 2.5% to trade at $19.11 this morning, as buillion prices drop on a rebound in U.S. bond yields, despite a cooling U.S. dollar. The miner also received a price-target cut from Bernstein earlier to $26.50 from $27.50. 

The brokerage bunch is mostly optimistic towards Barrick Gold stock. Of the the nine analysts in question, six call the equity a "buy" or better, while the remaining three say "hold." Additionally, the 12-month consensus target price of $28.05 is a massive 43.3% premium to last night's close, indicating the security could be overdue for more price-target cuts and/or downgrades.

The equity has had a rough year thus far, trending lower on the charts, despite a rally to the $25 level in mid-May. More recently, the security seems to have bounced off a floor at the $17.70 area, though recent pressure at the 80-day moving average is keeping a lid on these gains. Year-over-year, GOLD has shed roughly 30%.

For those wanting to speculate on Barrick Gold stock's next move, options may be the way to go. The equity's Schaeffer's Volatility Index (SVI) of 31% sits higher than just 5% of readings from the past year, suggesting options players are pricing in low volatility expectations right now.

 

 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners