Barrick Gold (TSE:ABX) Sets New 52-Week High After Analyst Upgrade

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) shares reached a new 52-week high during trading on Wednesday after Cormark upgraded the stock from a hold rating to a buy rating. The company traded as high as C$52.60 and last traded at C$52.32, with a volume of 798089 shares. The stock had previously closed at C$50.18.

Other equities research analysts also recently issued reports about the company. National Bank Financial raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Canaccord Genuity Group upped their price objective 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. Scotiabank upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Cibc World Mkts raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Stifel Nicolaus raised their price objective on shares of Barrick Gold from C$46.00 to C$65.00 in a research report on Monday, October 20th. Five 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 company’s stock. Based on data from MarketBeat.com, Barrick Gold currently has an average rating of “Buy” and an average target price of C$46.38.

Insider Activity at Barrick Gold

In related news, insider Joel James Holliday sold 13,588 shares of the firm’s 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 value of C$548,735.07. Following the completion of the transaction, the insider directly owned 84,087 shares of the company’s stock, valued at C$3,395,752.59. This trade represents a 13.91% decrease in their position. Also, insider Rousseau Jooste sold 3,000 shares of Barrick Gold stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of C$40.70, for a total value of C$122,112.00. Following the transaction, the insider directly owned 58,237 shares of the company’s stock, valued at approximately C$2,370,478.85. This represents a 4.90% decrease in their ownership of the stock. Insiders have sold a total of 62,990 shares of company stock valued at $2,580,075 in the last 90 days. Insiders own 0.60% of the company’s stock.

Barrick Gold Trading Down 2.3%

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 firm has a market cap of C$86.24 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 2.34 and a beta of 1.18. The business’s 50-day moving average price is C$45.58 and its two-hundred day moving average price is C$35.02.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its earnings results on Monday, November 10th. The basic materials company reported C$0.76 EPS for the quarter. The firm had revenue of C$5.78 billion during the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. Equities analysts expect that Barrick Gold Co. will post 2.2422764 earnings per share 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.