Barrick Gold (TSE:ABX) Hits New 12-Month High - Time to Buy?

Key Points

• Barrick Gold's share price reached a new 52-week high, trading at C$36.68, up from a previous close of C$36.25.
• The stock has garnered a strong consensus among analysts, with four rating it as a Strong Buy and an average price target of C$33.14.
• Barrick Gold has a market cap of C$44.07 billion and operates nine gold mines globally, with the Carlin mine generating the majority of its revenue.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX's share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$36.77 and last traded at C$36.68, with a volume of 454004 shares trading hands. The stock had previously closed at C$36.25.

Analyst Ratings Changes

ABX has been the topic of a number of research reports. Cibc World Mkts upgraded shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Sanford C. Bernstein cut their target price on shares of Barrick Gold from C$45.00 to C$43.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$33.14.

Barrick Gold Stock Performance

The stock has a market cap of C$44.07 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 2.34 and a beta of 0.48. The stock's fifty day moving average is C$30.11 and its 200-day moving average is C$27.83. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83.

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.

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