Haywood Securities Maintains "Outperform" on Barrick (NYSE:ABX)

Haywood Securities reiterated its “Outperform” rating on Barrick Gold (NYSE:ABX) while keeping a price target of $56 on the gold miner. Analysts from Haywood said this about the valuation of Barrick, “Our $56.00 target is based on an 11.5x multiple to our 2011E cash flow of US $4.70 per share at a 2011E gold price of US $1,250 per ounce. The Company’s peer group currently trades at an average of

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