Barrick Gold (TSE:ABX) Sets New 12-Month High – Should You Buy?

by · The Markets Daily

Barrick Gold Co. (TSE:ABX – Get Free Report) (NYSE:ABX) shares reached a new 52-week high during trading on Thursday . The stock traded as high as C$60.16 and last traded at C$60.14, with a volume of 1334748 shares trading hands. The stock had previously closed at C$57.76.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. BMO Capital Markets upped their price objective on Barrick Gold from C$37.00 to C$41.00 in a report on Monday, September 22nd. National Bank Financial upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Cormark upped their price target on shares of Barrick Gold from C$66.00 to C$78.00 in a research note on Tuesday, November 25th. Canaccord Genuity Group raised their price objective on shares of Barrick Gold from C$68.00 to C$70.00 in a research note on Monday, December 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Barrick Gold from C$46.00 to C$65.00 in a report on Monday, October 20th. Seven analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Barrick Gold presently has a consensus rating of “Buy” and a consensus price target of C$53.69.

Get Our Latest Stock Analysis on ABX

Barrick Gold Trading Up 2.9%

The firm has a market cap of C$101.42 billion, a PE ratio of 28.58, a PEG ratio of 2.34 and a beta of 1.28. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62. The business has a 50-day moving average price of C$50.11 and a two-hundred day moving average price of C$39.01.

Barrick Gold (TSE:ABX – Get Free Report) (NYSE:ABX) last issued its quarterly earnings data on Monday, November 10th. The basic materials company reported C$0.58 EPS for the quarter. The firm 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%. Analysts forecast that Barrick Gold Co. will post 2.2422764 EPS for the current year.

Insider Buying and Selling at Barrick Gold

In related news, insider Joel James Holliday sold 13,588 shares of Barrick Gold stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of C$40.38, for a total transaction of C$548,735.07. Following the completion of the transaction, the insider directly owned 84,087 shares in the company, valued at C$3,395,752.59. The trade was a 13.91% decrease in their position. Also, insider Poupak Bahamin sold 8,402 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of C$41.21, for a total value of C$346,269.11. Following the sale, the insider owned 29,400 shares in the company, valued at approximately C$1,211,653.38. This trade represents a 22.23% decrease in their position. In the last quarter, insiders sold 62,990 shares of company stock valued at $2,580,075. Company insiders own 0.60% of the company’s stock.

About Barrick Gold

(Get Free Report)

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.

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