Movement Alert|Barrick Mining Corporation Rises 5.85% in Regular Trading, Gold Sector Extends Rebound Rally Lifting Individual Stocks

Market Focus06-15

On June 15, Barrick Mining Corporation rose 5.85% in regular trading, trading at $42.75/share, with turnover of $134 million. On the news front, the gold sector extended its rebound rally that began on June 13, with industry stocks broadly strengthening.

The sector had previously experienced systematic selling pressure around June 10, during which RBC Capital Markets cut its target price on Barrick from $62 to $51, a reduction of approximately 18%, while maintaining an Outperform rating. Despite the target price headwind, the company reported strong Q1 results with revenue of $5.22 billion representing 67% year-over-year growth, and adjusted EPS of $0.98 significantly beating expectations. A $3 billion share buyback program continues to progress, providing fundamental support for the rebound.

Within the Gold sector, individual stocks posted broad gains: Coeur Mining up 10.61%, Pan American Silver up 9.45%, Wheaton Precious Metals up 8.11%, Agnico Eagle Mines up 7.66%, and Newmont Mining up 6.54%.

(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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