Barrick Gold (TSE:ABX) Sets New 52-Week High - Here's Why

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 shares hit a new 52-week high during trading on Monday . The stock 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.

Analysts Set New Price Targets

ABX has been the subject of several research analyst reports. Sanford C. Bernstein lowered their price objective on shares of 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 upgraded shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$33.14.

Barrick Gold Trading Up 1.2%

The business's 50 day simple moving average is C$30.87 and its two-hundred day simple moving average is C$28.20. The stock has a market cap of C$62.49 billion, a P/E ratio of 23.04, a PEG ratio of 2.34 and a beta of 0.58. 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.