Barrick Gold (TSE:ABX) Hits New 52-Week High - Should You Buy?

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX shares hit a new 52-week high during trading on Monday . The company traded as high as C$29.54 and last traded at C$29.52, with a volume of 1102859 shares trading hands. The stock had previously closed at C$29.18.

Analyst Ratings Changes

A number of analysts recently weighed in on ABX shares. Stifel Canada raised shares of Barrick Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Stifel Nicolaus increased 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. National Bank Financial upgraded shares of Barrick Gold to a "hold" rating in a report on Friday, March 21st. National Bankshares increased their price objective on shares of Barrick Gold from C$27.00 to C$33.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 19th. Finally, 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. Five analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Barrick Gold has an average rating of "Moderate Buy" and a consensus price target of C$33.67.

Barrick Gold Trading Up 1.2%

The stock has a market cap of C$35.88 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.34 and a beta of 0.48. 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 50 day simple moving average is C$27.21 and its 200 day simple moving average is C$25.98.

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.