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

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) reached a new 52-week high on Monday . The stock traded as high as C$72.93 and last traded at C$72.41, with a volume of 1043008 shares. The stock had previously closed at C$69.96.

Analyst Upgrades and Downgrades

ABX has been the subject of several recent analyst reports. Cormark increased their price target on Barrick Gold from C$66.00 to C$78.00 in a report on Tuesday, November 25th. National Bankshares raised their target price on shares of Barrick Gold from C$65.00 to C$77.50 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Scotiabank upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. DZ Bank upgraded Barrick Gold to a “strong-buy” rating in a report on Monday, January 19th. Finally, Stifel Nicolaus lifted their target price on shares of Barrick Gold from C$46.00 to C$65.00 in a report on Monday, October 20th. Seven equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Barrick Gold currently has a consensus rating of “Buy” and a consensus price target of C$56.21.

Barrick Gold Stock Performance

The stock’s 50-day simple moving average is C$60.95 and its 200-day simple moving average is C$47.17. The stock has a market cap of C$120.00 billion, a price-to-earnings ratio of 33.82, a price-to-earnings-growth 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.

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. The company had revenue of C$3.41 billion during the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. Analysts forecast that Barrick Gold Co. will post 2.2422764 earnings per share 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.