Barrick Mining Corporation

Moderna delivered one of the largest single-session moves for an S&P 500 company, closing 177% higher at $174.38 on Wednesday after reporting positive late-stage data for its personalized cancer vaccine. The stock pulled back over 23% on Thursday before adding more than 10% so far on Friday, leaving it on course for a gain of around 135% over the week. The Phase 3 trial evaluated Moderna's intismeran alongside Merck's Keytruda in advanced skin cancer, and met its primary goal of recurrence-free survival, with a key secondary endpoint on distant metastasis-free survival also met and no new safety signal reported. Crypto-exposed equities rallied hard this week after bitcoin surged on the U.S. Treasury's decision to at least double the size of its long-dated bond buyback operations, alongside supportive comments on the sector from President Donald Trump. The Treasury raised the maximum per-operation size from $2 billion to at least $4 billion for the 10-to-20-year and 20-to-30-year sectors, effective Sept. 9 through Nov. 4. Bitcoin is currently above $77,000, having hit a high of $79,461 earlier in Friday's session. As a result, Strategy has risen 25.9% over the week, with Marathon Digital up 22.5%, Coinbase 23.1% higher, Circle up 16.3%, Galaxy Digital 12.3% higher and Robinhood up 9.7%. The same Treasury announcement also lifted metals producers, with the dollar weakening and precious metal prices moving higher. Agnico Eagle leads the group so far on Friday with an 18.4% gain over the week, followed by Barrick at 15%, Freeport-McMoRan up 14% and Newmont 13.3% higher. The dollar has declined, with spot gold gaining more than 2% on Friday and over 6% in the past week. Estée Lauder jumped more than 16% on Wednesday and is set to finish the week up around 15.9% after fourth-quarter results came in ahead of expectations. Sales rose 6%, beating consensus of 4%, while adjusted earnings of $0.39 per share topped the $0.32 expected. Management pointed to share gains in mainland China and growth across all product categories except hair care, alongside continued progress on cost-cutting through its One ELC initiative and Profit Recovery and Growth Plan. Canaccord analyst Susan Anderson raised her price target for the stock to $90 from $85, maintaining a Hold rating following the release. Walmart is the week's notable loser, sinking 9.2% on Thursday and down a further 0.9% so far on Friday after second-quarter results that beat on the headline numbers but disappointed on the metric that mattered most. Comparable sales at Walmart-only U.S. stores excluding gas grew 2.6%, well short of the 3.67% consensus and the slowest U.S. sales growth in six years. Mizuho analyst David Bellinger described the outcome as a worst-case scenario, calling it a very messy print and one of the biggest misses in years from the retailer.

Barrick Mining's dividend yield has crossed 2%, supported by strong second-quarter earnings and a settlement with Newmont that resolves governance disputes at their Nevada Gold Mines joint venture. The company reported free cash flow of $1.7 billion, up 28% year over year, and earnings per share of $0.73, up 55%. Under the agreement, Newmont will pay Barrick $1.95 billion in cash within 30 days and consent to Barrick's planned IPO of its North American gold assets. Barrick's dividend policy includes a quarterly base dividend of $0.175 per share plus a potential year-end performance top-up, with a payout ratio of 24%.

Barrick Mining and Newmont have signed a new agreement to finalise their Nevada Gold Mines joint venture, ending all outstanding disputes and consolidating previously excluded projects. The deal brings Barrick's Fourmile and Newmont's Fiberline and Mike developments into NGM, creating a gold asset of nearly 100 million ounces in Nevada. Newmont will pay Barrick $1.95 billion in consideration, and the companies have updated the joint venture's governance under a modernised agreement. Newmont also approved Barrick's plan to float its North American gold assets in an IPO targeted for later this year, with Mark Hill set to become CEO of the new company. Barrick reported second-quarter gold production rose 11% to 796,000 ounces, copper production reached 56,000 tonnes, and financial results showed revenue of $5.29 billion, net earnings of $1.22 billion, and adjusted net earnings per share of $0.82, up 74% year-on-year.

Barrick Mining Corporation reported a jump in second-quarter profit. Net income reached $1.217 billion, or $0.73 per share, up from $811 million, or $0.47 per share, a year earlier. Adjusted earnings came to $1.363 billion, or $0.82 per share. Revenue surged 43.8% to $5.292 billion from $3.681 billion.

Midland Exploration Inc., in partnership with Barrick Gold Inc., has commenced an exploration program on the Lewis project in Quebec's Abitibi region. The 2026 program, designed by operator Barrick, includes geological mapping across about 76 linear kilometres and a till sampling survey of 167 sites planned for September. The Lewis project consists of 154 exclusive exploration rights covering roughly 86 square kilometres and is subject to an option agreement signed with Barrick in November 2025. The work aims to refine geological and structural knowledge to evaluate potential for orogenic and magmatic-hydrothermal gold mineralization, with revisits planned for the Red Giant and Golden Nest showings.

The VanEck Gold Miners ETF is the recommended choice for investors seeking to benefit from gold's rally in 2026, according to an analysis comparing it with the SPDR Gold Shares ETF. The VanEck Gold Miners ETF has delivered superior long-term returns, with annualized gains of 37.5%, 19%, and 11.6% over the 3-, 5-, and 10-year periods, compared to 27.7%, 17.5%, and 11.4% for the SPDR Gold Shares ETF. While the SPDR Gold Shares ETF provides direct exposure to physical gold with lower volatility and a 0.4% expense ratio, the VanEck Gold Miners ETF offers a more volatile play on gold mining equities with a 0.51% expense ratio and a dividend yield of 0.9%. The analysis notes that gold mining stocks benefit from operating leverage when gold prices rise, and the VanEck Gold Miners ETF has outperformed the SPDR Gold Shares ETF in all time frames except the past three months, during which it declined 12.4% versus a 6.7% drop for the SPDR Gold Shares ETF as gold retraced some gains.

Barrick Mining Corporation has agreed to buy a 9.9 percent stake in Kingfisher Metals Corp. through an approximately C$20.9 million private placement. The Toronto-based miner will subscribe for about 15.5 million units of Kingfisher at C$1.35 per unit, with each unit consisting of one common share and one-half of a common share purchase warrant exercisable at C$1.70 for two years. Following the deal, Barrick will hold about 9.9 percent of Kingfisher shares on a non-diluted basis and 14.1 percent on a partially-diluted basis, assuming the exercise of all warrants, while currently owning no Kingfisher shares. The companies will also enter into an investor rights agreement granting Barrick anti-dilution and information rights as long as it holds at least 5 percent ownership, and restricting Kingfisher from selling any interest in its Highway 37 Project in British Columbia for two years without Barrick's consent. Barrick agreed to an 18-month lock-up on its Kingfisher shares, a two-year standstill limiting it to 15 percent ownership, and to vote its shares in line with Kingfisher's board recommendations, while also forming a technical committee to provide support for the 2027 and 2028 drilling seasons at Highway 37.

Bank of America Securities’ head of US equity and quantitative strategy Savita Subramanian recommends investors ditch cap-weighted index funds and rotate into cyclical stocks, arguing that corporate earnings are surging while cyclicals remain cheap. She noted that S&P 500 earnings growth is tracking around 20% this year, well above the initial 15% consensus, and that total US corporate profits hit $4.4 trillion in the first quarter of 2026, up 12.8% year over year. Subramanian favors industrials, energy, and materials, highlighting names like Caterpillar, which saw revenue climb 22.2% to $17.41 billion, Applied Materials, which guided calendar 2026 equipment growth above 30%, and Barrick Mining, which posted record operating cash flow of $2.73 billion and hiked its dividend 40% despite its stock falling 14.6% year to date. She cautioned that hot nominal GDP could keep the Federal Reserve tighter for longer, but believes cyclical earnings growth can outpace the pressure on valuations.

Barrick has dropped 17% this year while gold soars, leaving a 50% gap between its $36 price and Wall Street's $56 target. Leadership changes, a $200 million Mali dispute payment, and Pakistan security setbacks weigh on the stock despite record Q1 free cash flow of $1.2 billion. CEO Mark Hill's planned North American spinout, a $3 billion buyback, and a forward P/E of 9 form the bull case for patient investors.

Gold prices logged their steepest quarterly decline in 13 years, with spot prices falling 15% in the second quarter of 2026, the worst drop since the second quarter of 2013. The selloff was driven by rising inflation concerns following the Middle-East conflict, which pushed energy prices higher and raised the likelihood of an interest rate hike by central banks. In the United States, traders are pricing in a 65% chance of a rate hike in September, per the CME FedWatch tool. The recent correction may have created an attractive entry point into high-quality gold mining stocks for long-term investors, including DRDGOLD Limited, Newmont Corporation, and Barrick Mining Corporation. DRDGOLD remains on track to achieve the upper end of its 2026 production guidance of 140,000 to 150,000 ounces while maintaining a debt-free balance sheet, Newmont ended the first quarter of 2026 with approximately 12.8 billion dollars in liquidity, and Barrick Mining reported roughly 7.1 billion dollars in cash and cash equivalents.

Agnico Eagle Mines posted record free cash flow of $4.4 billion in 2025, more than doubling the prior year's figure, driven by higher gold prices and operational efficiencies. First-quarter free cash flow rose 23% year over year to roughly $732 million, while operating cash flow reached about $1.3 billion, up 29%. The strong cash generation supports investments in growth projects including Odyssey, Detour Lake, Hope Bay, Upper Beaver and San Nicolas, and allows for enhanced shareholder returns and debt reduction. Among peers, Newmont's first-quarter free cash flow surged 161% to $3.1 billion, and Barrick's attributable free cash flow jumped 195% to around $1.2 billion.

Jefferies added Barrick to a buy list of miners it expects to benefit from rising copper prices tied to data center and power spending, not gold. The firm named Barrick, Kinross, Endeavour Mining, and Capstone Copper as buy-rated names on June 9, 2026, citing a structural copper supply deficit and a U.S. capital-spending cycle driven by AI infrastructure. Barrick’s copper output rose 11 percent to 49,000 metric tons in the first quarter, and the company is advancing the Lumwana expansion in Zambia and the Reko Diq copper-gold project in Pakistan, which former CEO Mark Bristow said could generate about $74 billion in free cash flow over 37 years. A single one-gigawatt AI data center can consume up to 50,000 metric tons of copper, while new mines take a decade to permit and build, keeping the market in a projected cumulative deficit near three million tonnes by 2036. Barrick also generated $1.21 billion in attributable free cash flow in the first quarter, up 195 percent from a year earlier, and approved a $3 billion buyback.

Barrick Mining is being viewed as a safe haven gold stock as geopolitical tensions intensify and gold prices rise. The company recently reported earnings per share that surpassed analyst expectations, adding operational strength to its defensive appeal. Barrick Mining trades on the NYSE under ticker B, with its share price at US$38.18, about 26% below the consensus analyst target of US$51.31. The stock is described as trading close to estimated fair value, though it has declined 6.1% over the past 30 days. A key flagged risk is an unstable dividend track record, which income-focused investors may want to scrutinize.

Barminco, the underground mining division of Perenti, has secured a contract valued at A$275 million, or $192 million, to deliver mining services at Barrick Mining's Fourmile Project in Nevada. The agreement spans 45 months, with operations set to commence in July 2026. The Fourmile site, owned entirely by Barrick, is situated next to the Goldrush Project, where Barminco is already engaged with Nevada Gold Mines, a joint venture between Barrick, which holds a 61.5% stake, and Newmont, owning 38.5%. Under the newly signed contract, Barminco will initiate development of the twin Bullion Hill portals as part of an extensive 16-kilometer underground development, alongside ground support, surface facilities and other mining services.