On June 4, Barrick Mining rose 3.11% in regular trading, trading at $43.27/share, with trading volume of $111 million. The stock rebounded following two consecutive sessions of decline driven by spot gold's sharp drop below $4,700/oz and RBC Capital Markets' significant target price cut from $62 to $51.
The broader gold sector staged a collective recovery, with Wheaton Precious Metals up 3.83%, Agnico Eagle Mines up 3.65%, Kinross up 3.37%, Coeur Mining up 2.31%, and Newmont Mining up 2.23%. Barrick's fundamental backdrop remains supportive, with the company's Q1 results having significantly exceeded expectations — revenue of $5.22 billion grew 67% year-over-year, adjusted EPS of $0.98 surpassed the consensus estimate of $0.81, and free cash flow surged 195%. The board's approved $3 billion share buyback program and ongoing North American business spinoff continue to underpin sentiment.
Additionally, the company is reportedly weighing a possible London listing for its African business, with discussions at an early stage and no certainty of a deal materializing.
(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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