African Barrick Gold Ltd (NASDAQ:ABGLF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage presently has a $2.75 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.00% from the company’s previous close.

According to Zacks, “Acacia Mining plc is a mining company which acquires and explores primarily for gold. The Company’s producing mines consists of Bulyanhulu, Buzwagi and North Mara and a portfolio of exploration projects in Tanzania, Kenya and Burkina Faso. Acacia Mining plc, formerly known as African Barrick Gold plc, is based in London, United Kingdom. “

Shares of African Barrick Gold (NASDAQ:ABGLF) opened at 2.50 on Friday. African Barrick Gold has a 12-month low of $2.01 and a 12-month high of $6.62. The company’s 50-day moving average price is $2.40 and its 200 day moving average price is $4.08. The firm has a market capitalization of $1.03 billion and a price-to-earnings ratio of 6.28.

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