Trading Analysis for Barrick Gold Corporation (ABX)

Posted on 01/15/2013 by Jane Lacave

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NEW YORK (AVAFIN) -- Barrick Gold Corporation options contracts experienced a low put/call ratio during today's trading session. The aggregate volume of put contracts versus call contracts equated to 0.23. Respectively, 7,923 put and 34,663 call contracts exchanged hands yesterday.

A significant increase in the trading volume of a stock's option often is a precursor of movement by the underlying stock. In such instances, put/call Ratio can be used as an investor sentiment indicator, where a high ratio implies that the overall investor sentiment is bearish and a low put/call ratio implies that the sentiment is bullish.

Barrick is the world's largest gold producer. In 2011, the firm produced 7.7 million ounces of gold and 451 million pounds of copper. North America accounted for 44% of gold production, South America for 24%, Australia/Pacific for 24%, and Africa for 7%. As of Dec. 31, 2011, Barrick had 140 million ounces of proven and probable gold reserves.

Shares of Barrick Gold Corporation gained $0.41 (+1.20%) to $34.59. The last trading session witnessed a low of $34.15 and high of $35.06 during the day. The current trading volume of 8M is greater than average volume of 7M shares. ABX is trading above the 50 day moving average and lower than the 200 day moving average. The stock's 52 week low is $31.00 and 52 week high is $50.39. To date, the stock has lost -14.38% within the last quarter.

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