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

Barrick Gold (TSE:ABX) (NYSE:ABX)‘s stock had its “buy” rating reiterated by equities research analysts at TD Cowen in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. They presently have a C$36.00 price objective on the basic materials company’s stock. TD Cowen’s price objective suggests a potential upside of 58.66% from the stock’s current price.

ABX has been the topic of a number of other research reports. TD Securities restated a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on Barrick Gold to C$21.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Sanford C. Bernstein dropped their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. UBS Group downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.69.

Barrick Gold Stock Performance

Shares of TSE ABX opened at C$22.69 on Tuesday. The company has a market capitalization of C$39.71 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. Barrick Gold has a one year low of C$18.65 and a one year high of C$29.50. The business’s 50-day moving average price is C$23.65 and its two-hundred day moving average price is C$25.19.

Insider Activity

In related news, Director Dennis Mark Bristow bought 85,296 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Also, Senior Officer Poupak Bahamin bought 5,778 shares of Barrick Gold stock in a transaction dated Thursday, November 21st. The shares were bought at an average price of C$25.03 per share, for a total transaction of C$144,645.87. 0.60% of the stock is owned by corporate insiders.

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.