On June 19, Barrick Mining fell 3.08% in regular trading, trading at $40.075/share, with turnover of $247 million. The decline came as the gold sector continued to face systematic selling pressure, dragging down individual stocks broadly.
The sector-wide weakness follows a period of heightened volatility. RBC Capital Markets previously cut its target price on Barrick Mining from $62 to $51, a reduction of approximately 18%, while maintaining an outperform rating. Despite the company delivering 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 systematic sector pressure has continued to weigh on the stock.
Within the Gold sector, individual stocks declined broadly. Newmont Mining fell 2.33%, Agnico Eagle Mines fell 3.09%, Pan American Silver fell 2.91%, Anglogold Ashanti fell 2.10%, and Coeur Mining fell 1.91%.
(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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