- Deutsche Bank issuing ratings for several miners but upgrades only Barrick Gold (ABX +2.4%), to Buy from Hold with a $30 price target (from $20), taking on faith management's follow-through to respond to corporate governance concerns, cut costs, slim its portfolio and clear a path to free cash flow.
- The firm downgrades Silver Standard (SSRI -2.3%) to Sell from Hold and cuts its price target to C$4.50 from C$7.50, citing what it sees as an inability to fund the Pitarrilla development without issuing equity.
- Price targets are raised for Freeport McMoRan (FCX) and Teck Resources (TCK) (I, II), while they're lowered for Vale (VALE), Southern Copper (SCCO) and Coeur Mining (CDE) (I, II, III).
Deutsche Bank lifts Barrick Gold to Buy, cuts Silver Standard to Sell
Oct 2 2013, 12:23 ET