HEADLINES
Barrick Mining Settles Newmont Nevada Dispute for $1.95 Billion, Clearing Way to List its Gold Assets
Barrick Mining has settled a long-standing dispute with rival Newmont over their Nevada operations, securing a $1.95 billion cash payout and paving the way for Barrick to publicly list its North American gold assets.
The deal resolves governance disputes stemming from the 2019 creation of the Nevada Gold Mines joint venture, which the two mining majors established after Barrick dropped an $18 billion hostile takeover bid for Newmont.
With the settlement behind them, Barrick can now move forward with an IPO of its gold portfolio. The miner's board approved plans to list a minority stake in its flagship gold assets in February, clearing the way to bundle its prime assets into a standalone company, holding nearly 100 million ounces of gold.
Barrick Second-Quarter Profit Rises on Higher Gold, Copper Prices
Newmont Snags Bargain in $1.95 Billion Nevada Settlement, Analyst Says
Sherritt International Receives Takeover Bid by Glencore-Backed Consortium
Sherritt International has received a recapitalization proposal from a Glencore-backed consortium aiming to take a 55% controlling stake in the embattled mining company.
The public offer by the United States Consortium, which is made up of a prominent U.S. anchor investor, mining company Glencore, activist firm Kyma Capital and investor Trifon Natsis, would give the group a minimum 55% controlling stake in Sherritt.
The Toronto-based nickel and cobalt producer is currently in exclusive talks to sell a controlling stake to Gillon Capital, a private family office associated with Republican financier Ray Washburne.
The offer price by the consortium, which was proposed on June 26 and disclosed Monday, is for C$0.12 a share, which the consortium said is a market-reflective price with no discount to Sherritt's unaffected share price as of May 19.
Rubellite Energy Shares Up on Higher Second-Quarter Production, Profit
Shares of Rubellite Energy rose after the company said that stronger-than-expected second-quarter production and higher commodity prices supported a surge in profit.
Shares rose 6.6% to C$4.51.
The Calgary, Alberta-based company on Monday reported a net income of C$34.1 million, or C$0.35 a share, up from C$16.1 million or C$0.17 a share a year earlier.
Stingray Group First-Quarter Profit Declines
Higher costs dragged Stingray Group's first-quarter profit lower, overshadowing an acquisition-led rise revenue.
For the three months ended June 30, the Montreal-based connected streaming media company's net income fell to C$6.59 million, or C$0.10 a share, from C$16.8 million, or C$0.24 a share, in the prior-year period, largely due to higher acquisition costs, increased noncash depreciation and amortization, as well as an unrealized loss on the fair value of derivative financial instruments.
Revenue in the quarter surged by 65% to C$158 million, topping expectations for a more modest rise to C$148.9 million, according to FactSet.
Village Farms International Gains After Reporting Record Second-Quarter Cannabis Sales
Shares of Village Farms International rose after the company reported higher second-quarter revenue, driven by cannabis sales.
The stock climbed nearly 14% to $2.37.
The company posted net income of $7.1 million, or 6 cents a share, compared with $26.5 million, or 24 cents a share, a year earlier. Revenue rose to $64 million from $59.9 million. Analysts polled by FactSet expected $56.3 million.
TALKING POINT
This Biotech's Drug Could Treat Hot Flashes. The Stock Surged on Good News.
By Mackenzie Tatananni, Barron's
AbCellera Biologics shares surged on Monday after the biotechnology company's menopause drug candidate delivered compelling results in an early-stage trial.
AbCellera on Monday reported that its experimental menopause treatment, ABCL635, had reached the primary efficacy endpoints in a clinical trial. The antibody targets the neurokinin 3 receptor in the brain, in turn regulating body temperature, helping with vasomotor symptoms like hot flashes and night sweats in patients with menopause.
In a Phase 2 trial, researchers determined that a single dose of ABCL635 significantly reduced both how often patients experienced hot flashes and how severe they were by the fourth week of treatment compared to a placebo. Patients taking the drug also reported better quality of sleep and an overall improvement in how they felt, AbCellera said.
The efficacy and safety findings represent "a best-case-scenario which clearly solidifies competitive differentiation" against existing market options, Stifel analyst Stephen Willey said. He believes that the results carry meaningful implications for AbCellera's total addressable market.
Shares of the biotech rose 34.8% to $9.34 on Monday. AbCellera stock had already more than doubled in 2026, largely fueled by anticipation for the Phase 2 data readout.
AbCellera partner Vertex Pharmaceuticals also gained 5.6% on Monday following a smaller rival's trial miss. Although Vertex and AbCellera teamed up in July to co-develop autoimmune treatments, Vertex isn't involved with ABCL635.
Encouragingly, all 92 participants completed the Phase 2 trial without any side-effect-related discontinuations, demonstrating strong tolerability. The key question now is whether these results replicate in larger trials.
Jones Trading analyst Debanjana Chatterjee noted that the drug's efficacy topped even the firm's bull-case projections. While the candidate is early in clinical testing, ABCL635 appears more effective than Astellas Pharma's Veozah and Bayer's Lynkeut, Chatterjee wrote.
"This, in combination with a cleaner safety and convenient once-monthly subcutaneous dosing, undoubtedly reflects a best-in-class profile," the analyst added.
Founded in 2012 as a University of British Columbia spinout, AbCellera has drawn support from prominent investors. Eli Lilly participated in a $105 million Series B round ahead of the biotech's initial public offering in 2020. Peter Thiel's Founders Fund was another early backer, with Thiel serving on the board from after the IPO until his departure in 2024.
AbCellera primarily develops biologics-treatments derived from living organisms such as microorganisms, plants, or animal cells. These large molecules target specific immune responses and disease-driving proteins.
Demand for targeted biologics has grown rapidly in recent years, sparking a corresponding surge in interest from major drugmakers. High-profile entrants include Novo Nordisk's cardiovascular candidate ziltivekimab and Replimune Group's Tudriqev, which secured regulatory approval on Friday.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
Expected Major Events for Tuesday
08:00/ITA: Jun Foreign Trade EU
10:00/US: Jul NFIB Index of Small Business Optimism
12:55/US: 08/08 Johnson Redbook Retail Sales Index
14:00/US: Jul Existing Home Sales
20:30/US: API Weekly Statistical Bulletin
23:01/UK: Jul UK Nations and Regions Growth Tracker
23:50/JPN: Jul Money Stock, Broadly-defined Liquidity
All times in GMT. Powered by Onclusive and Dow Jones.
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ACCESS Newswire Inc $(ACCS)$ is expected to report $-0.13 for 2Q.
Amentum Holdings Inc $(AMTM)$ is expected to report for 3Q.
Anavex Life Sciences Corp (AVXL) is expected to report $-0.17 for 3Q.
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Big Sky Industrial Inc (BSIN) is expected to report $-0.04 for 2Q.
Broadwind Inc $(BWEN)$ is expected to report $-0.02 for 2Q.
Cardinal Health Inc $(CAH)$ is expected to report $1.85 for 4Q.
Chicago Atlantic Real Estate Finance Inc (REFI) is expected to report $0.43 for 2Q.
Cineplex Inc (CGX.T,CPXGF) is expected to report for 2Q.
Curis Inc $(CRIS)$ is expected to report for 2Q.
DarioHealth Corp (DRIO) is expected to report for 2Q.
Dominari Holdings Inc (DOMH) is expected to report for 2Q.
Enviri Corp $(NVRI)$ is expected to report for 2Q.
Flowco Holdings Inc $(FLOC)$ is expected to report for 2Q.
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Lithium Argentina AG (LAR.T) is expected to report for 2Q.
LiveWorld Inc $(LVWD)$ is expected to report for 2Q.
Middleby Corp $(MIDD)$ is expected to report $1.85 for 2Q.
Neuronetics Inc $(STIM)$ is expected to report $-0.13 for 2Q.
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Vera Therapeutics Inc $(VERA)$ is expected to report $-1.55 for 2Q.
Vestis Corp $(VSTS)$ is expected to report $0.04 for 3Q.
WhiteHorse Finance Inc $(WHF)$ is expected to report $0.27 for 2Q.
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