On June 1, Barrick Mining fell 3.2% in regular trading, trading at $40.87/share, with trading volume of approximately $89.24 million.
On the news front, spot gold dropped sharply intraday, briefly falling below the $4,700/oz level with a decline of 2.2%, directly weighing on the broader gold mining sector. The precious metals selloff triggered widespread losses among peers, with AngloGold Ashanti down 6.32%, Agnico Eagle Mines down 4.04%, Pan American Silver down 3.6%, Newmont Mining down 3.12%, and Coeur Mining down 2.64%.
The pullback comes amid broader macro headwinds for gold, including elevated U.S. Treasury yields, a persistently strong dollar, and fading Fed rate-cut expectations, which have increased the opportunity cost of holding non-yielding assets. Barrick had previously rallied on the back of a strong Q1 earnings beat — with revenue of $5.22 billion up 67% year-over-year and adjusted EPS of $0.98 well above the $0.81 consensus — along with a $3 billion share buyback authorization. The current decline is primarily driven by systemic gold price pressure rather than company-specific factors.
(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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