Barrick Gold (TSE:ABX) Sets New 12-Month High - Here's Why

Key Points

• Barrick Gold shares have hit a new 52-week high, reaching C$33.74 during trading, with the last price noted at C$33.33.
• The stock has received multiple ratings upgrades, including a move from "hold" to "strong-buy" by Cibc World Markets, reflecting increased analyst optimism.
• Barrick Gold operates several mines globally, generating significant revenue from its Carlin mine segment, and boasts a market capitalization of C$40.55 billion.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX hit a new 52-week high on Monday . The company traded as high as C$33.74 and last traded at C$33.33, with a volume of 594239 shares trading hands. The stock had previously closed at C$33.31.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABX. Sanford C. Bernstein decreased their price objective on Barrick Gold from C$45.00 to C$43.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Cibc World Mkts raised shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of C$33.14.

Barrick Gold Trading Up 2.1%

The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The business's fifty day moving average is C$30.11 and its 200 day moving average is C$27.79. The stock has a market cap of C$44.06 billion, a PE ratio of 27.29, a P/E/G ratio of 2.34 and a beta of 0.48.

Barrick Gold Company Profile

Barrick Gold Corp is one of the world's largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.