News about Barrick

Barrick Mining shares fell 5.7% after Freedom Broker downgraded the stock to Hold from Buy and cut its price target to $46 from $54. The broker also downgraded Newmont and Agnico Eagle, which fell 4.5% and 6.4%, while AngloGold Ashanti and Equinox Gold dropped even more without a downgrade. The article attributes the group-wide selloff mainly to gold, which fell about 2% to around $4,050 an ounce, its lowest since early August and well below January's record near $5,600. Analysts still expect Barrick's normalized EPS to rise from $2.42 in fiscal 2025 to $4.22 in fiscal 2027, and its forward P/E sits well below its five-year average. Barrick's third-quarter report on Nov. 9 is the next test.