Barrick Gold (TSE:ABX) Hits New 12-Month High – What’s Next?

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) hit a new 52-week high during trading on Tuesday . The stock 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Barrick Gold from C$37.00 to C$41.00 in a research note on Monday, September 22nd. Scotiabank upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. National Bank Financial raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Stifel Nicolaus upped their price target on shares of Barrick Gold from C$46.00 to C$65.00 in a report on Monday, October 20th. Finally, National Bankshares raised their price target on 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. Seven equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$53.69.

Barrick Gold Trading Up 3.4%

The stock has a market capitalization of C$109.89 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.34 and a beta of 1.50. The company’s 50 day moving average is C$55.25 and its 200 day moving average is C$43.30. The company has a debt-to-equity ratio of 19.83, a quick ratio of 2.62 and a current ratio of 2.65.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted 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 company had revenue of C$3.41 billion for the quarter. On average, research analysts forecast 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.