Barrick Gold (TSE:ABX) Hits New 12-Month High at $23.42

Barrick Gold Corp (TSE:ABX) (NYSE:ABX)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$23.42 and last traded at C$23.34, with a volume of 741859 shares trading hands. The stock had previously closed at C$22.33.

Several brokerages have issued reports on ABX. Canaccord Genuity boosted their target price on Barrick Gold from C$19.50 to C$21.00 in a research report on Friday, July 19th. BMO Capital Markets restated an “outperform” rating and set a C$20.00 target price on shares of Barrick Gold in a research report on Thursday, July 4th.

The company has a current ratio of 2.46, a quick ratio of 1.28 and a debt-to-equity ratio of 31.73. The stock has a market cap of $39.38 billion and a PE ratio of -19.29. The firm’s fifty day moving average is C$21.38.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported C$0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.13 by C$0.02. The firm had revenue of C$2.78 billion during the quarter, compared to analysts’ expectations of C$2.89 billion. As a group, equities analysts forecast that Barrick Gold Corp will post 0.49 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. First Financial Corp IN bought a new position in Barrick Gold in the first quarter worth approximately $28,000. Legacy Bridge LLC acquired a new position in shares of Barrick Gold during the first quarter worth $28,000. McIlrath & Eck LLC increased its position in shares of Barrick Gold by 624.7% during the first quarter. McIlrath & Eck LLC now owns 2,174 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 1,874 shares in the last quarter. Synovus Financial Corp increased its position in shares of Barrick Gold by 152.8% during the first quarter. Synovus Financial Corp now owns 2,445 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,478 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its position in shares of Barrick Gold by 48.7% during the first quarter. Cornerstone Advisors Inc. now owns 2,433 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 797 shares in the last quarter.

About Barrick Gold (TSE:ABX)

Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid copper mine located in Saudi Arabia.

Further Reading: Economic Bubble

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