Barrick Mining Slides 6% Premarket on Gold’s 4.4% Plunge; Analysts Set $55.25 Target
Barrick Mining shares slid 5-6% in premarket trading Monday following spot gold’s 4.4% drop to $4,292.88 per ounce—a ninth consecutive decline to four-month lows—as markets shift toward potential rate hikes. Meanwhile, 21 brokerages assign Barrick an average target price of $55.25 with a moderate buy consensus.
1. Premarket Share Decline
Barrick Mining’s shares fell 5-6% in premarket trading as spot gold dropped 4.4% to $4,292.88 per ounce—the lowest level since November—driven by heightened interest rate expectations and ongoing Middle East tensions that have dampened bullion demand.
2. Analyst Consensus and Price Target
A panel of 21 brokerages has set an average target price of $55.25 for Barrick Mining, with 17 buy ratings, three holds and one strong buy, reflecting cautious optimism despite the recent slide in gold markets.