Here's Why Barrrick Gold Plunged 10% in October
Failing to recover from an 11% drop in September, shares of Barrick Gold (NYSE: ABX) fell 10% last month according to S&P Global Market Intelligence. Although there were other factors that surely affected the company's stock, it was news regarding Barrick's operations in Africa that stoked investors' fears the most.
When considering the performance of a gold-mining stock, it's always worthwhile to take a step back and consider the price of gold to which gold stocks are closely correlated. The SPDR Gold Trust ETF (NYSEMKT: GLD), for example, fell more than 1% through the month. But Barrick's precipitous decline isn't solely attributable to the dip in the yellow stuff.
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Source: Fool.com
Barrick Gold Corp Stock
€17.14
-2.170%
With 11 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
With a target price of 22 € there is a positive potential of 28.35% for Barrick Gold Corp compared to the current price of 17.14 €.
