On June 18, Barrick Mining fell 3.06% in regular trading, trading at $41.53/share, with turnover of $458 million. The gold sector faced renewed systematic selling pressure, with industry stocks declining broadly.
Within the Gold sector, Coeur Mining fell 5.64%, Pan American Silver fell 2.05%, Newmont Mining fell 2.0%, Agnico Eagle Mines fell 1.08%, and Wheaton Precious Metals fell 1.0%. Earlier, Royal Bank of Canada cut Barrick Mining's target price from $62 to $51, a reduction of approximately 18%, while maintaining an outperform rating. The FactSet consensus analyst target price stands at $57.42.
Despite the company's strong Q1 results — revenue of $5.22 billion representing 67% year-over-year growth and adjusted EPS of $0.98 significantly beating expectations — along with an ongoing $3 billion share buyback program, short-term sector-wide systematic pressure continues to dominate price action.
(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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