Movement Alert|Barrick Mining Corporation Rises 3.03% in Regular Trading, Fed Rate Hike Lands as Gold Rebounds and RBC Lifts Target Price

Market Focus09-17 21:42

On September 17, Barrick Mining Corporation rose 3.03% in regular trading, trading at $43.29 per share, with turnover of $30.34 million. The stock opened at $42.575 and traded as high as $43.90 during the session.

On the news front, the Federal Reserve announced a 25-basis-point rate hike early on September 17, raising the federal funds rate target range to 3.75%–4.00%. Markets had already largely priced in the move — CME FedWatch data previously showed a 71.3% probability of the hike — and a classic \"sell the rumor, buy the news\" effect emerged once the decision landed. Spot gold promptly rebounded above $4,300 per ounce, lifting gold mining stocks broadly. Within the Gold sector, Coeur Mining rose 3.19%, Agnico Eagle Mines gained 1.95%, AngloGold Ashanti added 1.95%, Wheaton Precious Metals climbed 1.86%, and Newmont Mining advanced 1.56%.

Separately, Royal Bank of Canada raised its price target on Barrick Mining Corporation to $53 from $49, maintaining an Outperform rating. The analyst consensus mean target stands at $57.48, implying significant upside from the current level, further bolstering market sentiment toward the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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