5 Best TSX Stocks To Buy Now

3. Barrick Gold Corporation (TSX:ABX.TO)

Number of Hedge Fund Holders: 40

Barrick Gold Corporation (TSX:ABX.TO) is a Toronto-based company specializing in the exploration, development, production, and sale of gold and copper properties. The company’s gold mines are located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, Dominican Republic, Mali, Tanzania, and the United States. Barrick Gold Corporation (TSX:ABX.TO) announced that it remains on track to achieve FY 2022 production guidance, with gold forecasted at the low end of the guidance and copper expected at the midpoint. The company is also making “steady progress” towards the final agreements and legal steps which will enable the development of the $7 billion Reko Diq gold project in Pakistan.

On October 19, Stifel analyst Ingrid Rico maintained a Buy rating on Barrick Gold Corporation (TSX:ABX.TO) but trimmed the price target on the shares to C$33 from C$35.25. 

As per Insider Monkey’s data, 40 hedge funds were bullish on Barrick Gold Corporation (TSX:ABX.TO) at the end of June 2022, compared to 45 funds in the last quarter. It is one of the best TSX stocks to buy according to elite hedge funds.