Movement Alert｜Barrick Mining Rises 3.05% in Regular Trading, Gold Sector Broadly Higher as Buyback and Spinoff Catalysts Continue to Ferment

Market Focus05-29

On May 29, Barrick Mining rose 3.05% in regular trading, trading at $42.87/share, with trading volume of approximately $185 million. The stock continues to recover from a multi-day profit-taking wave earlier in May.

On the news front, the company's previously released Q1 earnings significantly beat expectations, with revenue of $5.22 billion representing a 67% year-over-year increase, adjusted EPS of $0.98 far exceeding the consensus estimate of $0.81, and free cash flow surging 195% year-over-year. Additionally, the board has approved a share repurchase program of up to $3 billion, while the spinoff of the North American business continues to advance, with a potential valuation exceeding $60 billion. Barclays recently initiated coverage with an Equal Weight rating and a C$56 target price, while the analyst consensus maintains an Overweight rating with a mean target of $59.09.

The broader gold sector rose in tandem, with Anglogold Ashanti up 3.52%, Agnico Eagle Mines up 3.39%, Newmont Mining up 2.93%, Coeur Mining up 2.50%, and Gold Fields up 0.67%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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