Barrick Gold (TSE:ABX) Reaches New 1-Year High – Time to Buy?

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) hit a new 52-week high during trading on Tuesday . The company traded as high as C$64.73 and last traded at C$64.38, with a volume of 1075241 shares traded. The stock had previously closed at C$63.00.

Analyst Ratings Changes

ABX has been the topic of a number of research reports. Citigroup upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. BMO Capital Markets lifted their price target on shares of Barrick Gold from C$37.00 to C$41.00 in a research note on Monday, September 22nd. Canaccord Genuity Group boosted their price target on shares of Barrick Gold from C$68.00 to C$70.00 in a report on Monday, December 1st. BNP Paribas upgraded shares of Barrick Gold to a “strong-buy” rating in a research note on Friday, December 5th. Finally, National Bank Financial raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Seven investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$53.69.

Barrick Gold Stock Up 3.4%

The firm has a market capitalization of C$109.89 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 2.34 and a beta of 1.50. 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 fifty day moving average price of C$55.25 and a 200 day moving average price of C$43.30.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings results on Monday, November 10th. The basic materials company reported C$0.58 earnings per share for the quarter. Barrick Gold had a return on equity of 6.90% and a net margin of 13.19%.The firm had revenue of C$3.41 billion during the quarter. Sell-side analysts anticipate that Barrick Gold Co. will post 2.2422764 EPS for the current fiscal year.

About Barrick Gold

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry – including six of the world’s Tier One gold mines -Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.