TD Cowen Reaffirms Buy Rating for Barrick Gold (TSE:ABX)

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX's stock had its "buy" rating restated by investment analysts at TD Cowen in a research note issued to investors on Tuesday, Stock Target Advisor reports. They currently have a C$36.00 price objective on the basic materials company's stock. TD Cowen's price objective would indicate a potential upside of 61.00% from the company's previous close.

Several other research firms have also commented on ABX. Stifel Nicolaus cut their price objective on Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. TD Securities restated a "buy" rating and issued a C$34.00 price target on shares of Barrick Gold in a report on Wednesday, October 16th. Sanford C. Bernstein reduced their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Cibc World Mkts lowered shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, November 25th. Finally, UBS Group lowered shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$30.62.

Barrick Gold Trading Up 0.4 %

Shares of TSE ABX traded up C$0.10 during midday trading on Tuesday, reaching C$22.36. 3,323,119 shares of the stock were exchanged, compared to its average volume of 3,297,198. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The company has a market capitalization of C$39.13 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.34 and a beta of 0.48. The stock has a 50 day moving average price of C$23.73 and a 200-day moving average price of C$25.21. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$29.50.

Insider Activity

In other Barrick Gold news, Senior Officer Poupak Bahamin bought 5,778 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of C$25.03 per share, with a total value of C$144,645.87. Also, Director Dennis Mark Bristow acquired 85,296 shares of Barrick Gold stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Corporate insiders own 0.60% of the company's stock.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.