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

Key Points

• Barrick Gold has reached a new 52-week high, trading at C$39.82 during mid-day, reflecting a trading volume of over 550,000 shares.
• Analysts have upgraded Barrick Gold from a "hold" to a "strong-buy" rating, with three analysts rating it a Strong Buy and a consensus price target of C$33.14.
• The company's market capitalization stands at C$68.41 billion, with a P/E ratio of 25.22, indicating strong market confidence in its profitability.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$39.82 and last traded at C$39.64, with a volume of 550209 shares traded. The stock had previously closed at C$39.37.

Wall Street Analyst Weigh In

Separately, Cibc World Mkts raised shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$33.14.

Barrick Gold Trading Up 1.9%

The company has a market cap of C$68.41 billion, a P/E ratio of 25.22, a P/E/G ratio of 2.34 and a beta of 0.72. The stock's 50-day moving average is C$31.78 and its two-hundred day moving average is C$28.64. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.