Movement Alert|Barrick Mining Falls 3.14% in Pre-Market Trading, Gold Sector Sustained Selling Pressure Drags Down Individual Stocks

Market Focus06-23

On June 23, Barrick Mining fell 3.14% in pre-market trading, trading at $38.99/share, with turnover of $1.0563 million.

On the news front, the gold sector has extended systematic selling pressure since June 18, with industry stocks broadly weakening. Among peers, AngloGold Ashanti fell 5.02%, Coeur Mining fell 3.66%, Alamos Gold fell 3.25%, Newmont Mining fell 3.15%, and Agnico Eagle Mines fell 3.08%. Royal Bank of Canada previously cut its target price for Barrick Mining from $62 to $51, a reduction of approximately 18%, while maintaining an outperform rating.

Despite the company reporting Q1 revenue of $5.22 billion, a 67% year-over-year increase, with adjusted EPS of $0.98 significantly beating expectations, and a $3 billion share buyback program continuing to progress, short-term sector-wide systematic pressure continues to weigh on the stock price.

(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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