On July 31, Barrick Mining Corporation fell 3.05% in regular trading, trading at $36.55/share, with turnover of $40.31 million. The decline came as the gold sector experienced broad-based selling pressure while concerns over the company's Chile mine disruption continued to weigh on sentiment.
On the news front, Barrick Mining's Barriales camp in Chile's Atacama region remains shut down after severe snowstorms blocked all land access, forcing the company to evacuate workers by helicopter. The operational interruption risk at its Chilean mining assets continues to weigh on the stock, with the event first disclosed on July 27. Additionally, both BofA Securities and UBS recently lowered their price targets on the stock to $56 and $50 respectively, while maintaining Buy ratings.
Within the Gold sector, stocks declined broadly. Anglogold Ashanti fell 9.81%, Eldorado fell 6.23%, Coeur Mining fell 4.38%, Agnico Eagle Mines fell 3.96%, and Newmont Mining fell 3.28%. The company is scheduled to report Q2 results before markets open on August 10, with consensus EPS expectations at $0.81.
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