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

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) hit a new 52-week high on Tuesday . The company traded as high as C$53.54 and last traded at C$51.98, with a volume of 6527441 shares. The stock had previously closed at C$52.00.

Wall Street Analyst Weigh In

ABX has been the subject of several recent research reports. Stifel Nicolaus boosted their price target on Barrick Gold from C$46.00 to C$65.00 in a research note on Monday, October 20th. Canaccord Genuity Group increased their target price on shares of Barrick Gold from C$39.00 to C$57.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. National Bankshares boosted their price target on Barrick Gold from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Cormark upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, November 11th. Finally, Scotiabank raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Barrick Gold presently has an average rating of “Buy” and an average price target of C$46.38.

Barrick Gold Price Performance

The business’s fifty day moving average price is C$46.56 and its 200 day moving average price is C$35.82. 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 stock has a market cap of C$89.57 billion, a P/E ratio of 25.52, a PEG ratio of 2.34 and a beta of 1.18.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, November 10th. The basic materials company reported C$0.76 earnings per share (EPS) for the quarter. The company had revenue of C$5.78 billion for the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. Sell-side analysts forecast that Barrick Gold Co. will post 2.2422764 EPS for the current fiscal year.

Insider Transactions at Barrick Gold

In other news, insider Joel James Holliday sold 13,588 shares of Barrick Gold stock in a transaction dated 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 sale, the insider directly owned 84,087 shares of the company’s stock, valued at approximately C$3,395,752.59. This trade represents a 13.91% decrease in their ownership of the stock. Also, insider Grant Bill Beringer sold 38,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of C$41.13, for a total value of C$1,562,959.00. Following the sale, the insider owned 107,047 shares in the company, valued at approximately C$4,402,896.63. This trade represents a 26.20% decrease in their ownership of the stock. Insiders have sold a total of 62,990 shares of company stock valued at $2,580,075 over the last quarter. 0.60% of the stock is currently owned by insiders.

About Barrick Gold

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.