Barrick Gold (TSE:ABX) Reaches New 12-Month High - What's Next?

Key Points

• Barrick Gold (TSE:ABX) achieved a new 52-week high, trading at C$32.46, signaling a positive market performance with a recent volume of 613,852 shares.
• Analysts have varied opinions on Barrick Gold's stock, with ratings ranging from "hold" to "strong buy", and an average target price set at C$33.14.
• The company operates multiple mines globally and generates significant revenue from its Carlin mine segment, contributing to a robust market capitalization of C$39.43 billion.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX's stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$32.46 and last traded at C$32.05, with a volume of 613852 shares trading hands. The stock had previously closed at C$31.46.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABX. Sanford C. Bernstein reduced their price target on Barrick Gold from C$45.00 to C$43.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Cibc World Mkts upgraded Barrick Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Stifel Nicolaus raised their price objective on Barrick Gold from C$34.00 to C$37.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$33.14.

Barrick Gold Price Performance

The company has a current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83. The firm has a market cap of C$40.49 billion, a P/E ratio of 25.08, a PEG ratio of 2.34 and a beta of 0.48. The firm has a 50-day simple moving average of C$29.46 and a 200-day simple moving average of C$27.41.

About Barrick Gold

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.