Barrick Gold (TSE:ABX) Reaches New 12-Month High – Here’s What Happened

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$60.92 and last traded at C$60.27, with a volume of 681700 shares trading hands. The stock had previously closed at C$60.00.

Wall Street Analysts Forecast Growth

ABX has been the topic of a number of analyst reports. National Bank Financial raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. BNP Paribas upgraded Barrick Gold to a “strong-buy” rating in a research report on Friday, December 5th. Scotiabank upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. National Bankshares boosted their price target on Barrick Gold from C$65.00 to C$77.50 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Finally, Citigroup upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Seven research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$53.69.

Barrick Gold Stock Performance

The stock has a market cap of C$103.45 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 2.34 and a beta of 1.28. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The company has a 50 day simple moving average of C$51.34 and a 200 day simple moving average of C$40.18.

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. The company had revenue of C$3.41 billion for the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. As a group, equities research analysts forecast that Barrick Gold Co. will post 2.2422764 EPS for the current year.

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.