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

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) reached 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 trading hands. The stock had previously closed at C$63.00.

Wall Street Analyst Weigh In

ABX has been the topic of several recent analyst reports. BNP Paribas raised shares of Barrick Gold to a “strong-buy” rating in a report on Friday, December 5th. Scotiabank raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Stifel Nicolaus boosted their price objective on shares of Barrick Gold from C$46.00 to C$65.00 in a research report on Monday, October 20th. Cormark raised their target price on Barrick Gold from C$66.00 to C$78.00 in a report on Tuesday, November 25th. Finally, Citigroup upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$53.69.

Barrick Gold Price Performance

The company has a 50 day moving average price of C$56.09 and a 200-day moving average price of C$43.72. The company has a market cap of C$112.24 billion, a price-to-earnings ratio of 31.63, a P/E/G ratio of 2.34 and a beta of 1.50. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83.

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

Barrick Gold Company Profile

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.