On June 30, Barrick Mining fell 3.06% in regular trading, trading at $35.815/share, with turnover of $42.01 million. The decline was driven by UBS cutting its price target on Barrick Mining from $54 to $50 while maintaining a Buy rating. Earlier this month, RBC also slashed its target from $62 to $51, maintaining an Outperform rating.

The broader gold sector faced significant headwinds as spot gold breached the $4,000 level, touching $3,943 intraday — a multi-month low — with gold prices falling approximately 12.4% for the month amid rising Fed rate hike expectations and a stronger U.S. dollar. Within the Gold sector, Newmont Mining fell 2.47%, Agnico Eagle Mines fell 2.59%, AngloGold Ashanti fell 2.19%, Kinross fell 2.42%, and Coeur Mining fell 1.52%.

Barrick reported strong Q1 adjusted EPS of $0.98, up 180% year-over-year, and announced a $3 billion buyback program, but these positives have not stemmed the recent pullback. The FactSet consensus target remains at $56.72 with an average overweight rating.

(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.)