Barrick Gold (TSE:ABX) Sets New 12-Month High - Time to Buy?

Key Points

• Barrick Gold Co. reached a new **52-week high** with its share price trading at **C$37.30**, reflecting significant investor interest.
• Cibc World Mkts upgraded Barrick Gold's rating from **"hold" to "strong-buy,"** indicating strong confidence among analysts in the company's future performance.
• The company's financial metrics include a **market cap of C$63.82 billion** and a **debt-to-equity ratio of 19.83**, highlighting its robust financial health.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX's share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$37.30 and last traded at C$37.09, with a volume of 450482 shares changing hands. The stock had previously closed at C$36.63.

Wall Street Analyst Weigh In

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

Barrick Gold Stock Up 2.1%

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$63.82 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.34 and a beta of 0.58. The business has a 50-day moving average price of C$31.02 and a 200-day moving average price of C$28.31.

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.

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