Barrick Gold (TSE:ABX) Reaches New 1-Year High - Should You Buy?

Key Points

• Barrick Gold Corp reached a new 52-week high at C$30.99 on Tuesday, closing at C$30.72 with a trading volume of over 1 million shares.
• Analysts have given Barrick Gold a consensus rating of "Moderate Buy", with price targets ranging from C$33.14 to C$43.00.
• The company operates multiple gold mines across four continents and has a market capitalization of C$37.70 billion, alongside a PE ratio of 23.36.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX hit a new 52-week high on Tuesday . The company traded as high as C$30.99 and last traded at C$30.72, with a volume of 1093941 shares. The stock had previously closed at C$29.47.

Wall Street Analyst Weigh In

ABX has been the subject of several research analyst reports. BMO Capital Markets raised shares of Barrick Gold to a "hold" rating in a research note on Tuesday, April 15th. Stifel Nicolaus lifted their price objective on shares of Barrick Gold from C$34.00 to C$37.00 and gave the company a "buy" rating in a report on Monday, April 21st. Finally, Sanford C. Bernstein cut their price target on shares of 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. Five analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$33.14.

Barrick Gold Stock Performance

The company has a market cap of C$37.70 billion, a PE ratio of 23.36, a PEG ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 19.83, a quick ratio of 2.62 and a current ratio of 2.65. The business's 50-day moving average is C$28.53 and its 200 day moving average is C$26.90.

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.

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