On August 10, Barrick Mining Corporation rose 8.24% overnight, trading at $45.0/share, with turnover of $72,000.
On the news front, the company is scheduled to release its Q2 earnings before market open on August 10. Market consensus expects revenue of $5.226 billion, representing a 42.29% year-over-year increase, with adjusted EPS of $0.88, up 91.86% year-over-year. Gold and copper price resonance is anticipated to deliver significant earnings elasticity. Last quarter, the company reported revenue of $5.218 billion with a gross margin of 60.37% and adjusted EPS of $0.98.
Additionally, severe winter storms in Chile previously forced the emergency evacuation of workers at the company's Barriales camp and halted multiple copper mines for several weeks, further tightening global copper supply and providing price support for the company's copper operations. Analyst consensus maintains an overweight rating with a mean price target of $56.
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