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Mining & Metals

Barrick Mining Releases Its 2025 Sustainability Report

Barrick Mining (ABX.TO, B) on Friday published its 2025 sustainability report and accompanying performance data, outlining the company's sustainability efforts over the year past.The miner reported a 60% reduction in total recordable injury frequency rate since 2020, and a 28% year-over-year reduction in lost time injuries.In 2025, 96% of Barrick's employees and 76% of its suppliers were drawn from host countries, with over US$7.1 billion in spending with local and host country suppliers.Barrick also invested over $62 million in community-led development initiatives. In April, the company published its Human Rights report.In addition, Barrick continued to advance the application of its Biodiversity risk and impact assessment tool to improve how biodiversity risks are identified. It also continued to optimize its water use and recycling rates, while advancing its Scope 3 emissions supplier engagement."As we enter an exciting new phase of growth and delivery, sustainability remains fundamental to how we operate," Chief Executive Officer Mark Hill said. "The principles that have guided us for years remain unchanged: keeping our people safe, mining responsibly, building strong partnerships, and delivering long-term value that is shared by all our stakeholders."Barrick shares were last seen up $1.13 to $55.68 on the Toronto Stock Exchange.Price: $55.71, Change: $+1.16, Percent Change: +2.13%

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Mining & Metals

Chakana Copper Closes Its Acquisition of Barrick's Stake in the La Joya Project in Peru

Chakana Copper (PERU.V) on Monday said it closed the acquisition of Barrick Mining's (ABX.TO, B) interest in the La Joya Project in Peru.Barrick has become a shareholder of Chakana, joining Gold Fields and EMR Capital, it said. Chakana issued 4.1-million shares to Barrick, giving it an 8% stake in the company as consideration for the acquisition. Barrick will also retain a 2% net smelter royalty.The company said it is now positioned to "aggressively" follow up on the favorable results obtained during the 2024 scout drilling programs at both the Mega-Gold and La Joya HSE targets.Shares of the company were last seen up $0.005 to $0.15 on the TSX Venture Exchange.Price: $0.15, Change: $+0.01, Percent Change: +3.45%

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Wire

Market Chatter: Barrick Mining Mulls London Listing for African Business

Barrick Mining (B) is weighing a possible London listing for its African business, with the company also considering an all-share transaction with Endeavour Mining as an option, Reuters said Monday, citing two sources familiar with the matter.Discussions are at an early stage and that there is no certainty that a deal will materialize, according to the report.Under one scenario being explored, Barrick Mining would retain its Toronto listing as a holding company that would own shares in the North American-listed Barrick in New York and a separate Africa-focused entity listed in London, the report added.Barrick and Endeavour Mining did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $41.56, Change: $-0.99, Percent Change: -2.33%

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Research

Research Alert: CFRA Maintains Buy Rating On Shares Of Barrick Mining Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price at $56, on an EV/EBITDA of 5.3x applied to our 2027 EBITDA estimate, vs. Barrick's three-year avg. fwd EV/EBITDA of 5.2x and peers' avg. of 5.7x. We raise our 2026 EPS estimate by $0.24 to $4.04 and 2027 by $0.38 to $4.63. Production guidance is maintained at 2.90-3.25M gold ounces and 190-220k tonnes of copper, with sequential increases through the year. A strong fundamental position is underpinned by robust FCF generation, with Q1 FCF surging 195% Y/Y to $1.21B, reflecting significant operating leverage to higher gold prices. The balance sheet remains strong with $2.4B in net cash. Key growth catalysts include the Lumwana expansion (on track for Q1 2028 first production), advancing Fourmile project (potential Tier-One asset), and the planned year-end North American IPO, which should unlock value. With improving operational consistency, a de-risked portfolio focus, and strong leverage to gold prices, we believe Barrick is well-positioned to deliver sustainable value creation.

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Research

Barrick Mining Maintained at Buy at Stifel Canada After Q1 Results; Price Target Kept at C$95.00

Stifel Canada on Tuesday maintained its buy rating on the shares of Barrick Mining (ABX.TO, B) and its C$95.00 price target following the company's first-quarter results."Barrick reported stronger Q1/26 adjusted EPS of $0.98 vs. our $0.75 (consensus $0.81) and adjusted EBITDA of $3.93Bln vs. our $3.38Bln (consensus: $3.26Bln) on attributable gold production of 719Koz vs. our 658Koz and higher vs. Q1/26 guidance of 640-680Koz as well as copper production of 49Kt vs. our 42Kt. Q1/26 total cash cost (TCC) of $1,327/oz vs. our $1,453/oz and AISC of $1,708/oz vs. our $1,904/oz are both tracking at the low-end and below FY26 guidance and Q1/26 consolidated FCF of $1.58Bln vs our $1.14Bln (+38% QoQ) results in FCF/GEO of $1,750 FCF/GEO (+35% QoQ). Barrick reiterated FY26 guidance (incl Q2/26 gold production of 730-770Koz or +4.3% QoQ) and sequential growth through H2/26 driven by the Loulo-Gounkoto ramp-up, Goldrush, Kibali, and NGM. A new $3.0Bln NCIB was authorized over 12 months. We estimate at spot gold and copper prices, the NCIB is 2.0% accretive to our Barrick NAVPS," analyst Ralph Profiti wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $61.81, Change: $-2.59, Percent Change: -4.02%

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Research

Research Alert: Barrick Mining Posts Q1 Sales And Eps Beat, Production Beats Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Barrick Mining posted Q1 adj. EPS of $0.98 vs. $0.35 in the prior year, $0.17 above consensus, with sales of $5.2B up 66% Y/Y and 8% above the Street's estimates. Gold production of 719k ounces exceeded guidance by 9% at the mid-point, owing to Nevada Gold Mines' performance and a faster Loulo ramp-up following the Mali resolution. The production beat validates management's operational focus under Hill's leadership and demonstrates leverage in Barrick's cost structure as gold prices remain elevated. Management reaffirmed 2026 guidance for gold production of 2.90M-3.25M ounces and copper production of 190k-220k tonnes. Attributable FCF surged 195% Y/Y to $1.21B while the company maintains net cash of $2.41B, enabling a $0.175 quarterly dividend and new $3.0B buyback authorization. The targeted year-end 2026 North America IPO remains on track, which we continue to view as a significant value unlock opportunity for the Nevada Gold Mines, Pueblo Viejo, and Fourmile assets in stable jurisdictions.

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Asia Markets

US Equity Futures Slightly Lower Pre-Bell as Trump Rejects Iran's Response to Peace Proposal, Oil Prices Rise

US equity futures were marginally lower pre-bell Monday as President Donald Trump rejected Iran's response to the US peace proposal, sending oil prices higher amid concerns that the closure of the Strait of Hormuz would be prolonged.Dow Jones Industrial Average futures were flat, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.Trump said in a post on Truth Social that he found Iran's response "totally unacceptable." Iran's response had included a demand for war reparations, an end to sanctions, full sovereignty over the Strait of Hormuz, and the release of frozen Iranian assets, the country's state media had said.Energy firm Constellation Energy (CEG) was one of the first companies to kick off earnings this week, posting higher Q1 adjusted earnings and revenue. Among the companies reporting financial results this week are Petrobras (PBR), Cisco Systems (CSCO), Alibaba Group (BABA), Applied Materials (AMAT), and Brookfield (BN).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.8% at $104.11 per barrel and US West Texas Intermediate crude 2.9% higher at $98.16 per barrel.Existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 2% for April after a decline of 3.6% in the prior month, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.5% lower, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 1.1% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Palantir Technologies (PLTR) stock was down 2.2% after the company's external staff and other consultants were provided unrestricted entry to identifiable medical records by the UK's National Health Service, according to a Financial Times report citing an internal briefing note.On the winning side, Intel (INTC) shares rose 5.2% after the company and Apple (AAPL) reached a preliminary agreement under which the chipmaker will make some of the chips powering Apple devices, according to a Wall Street Journal report on Friday. Barrick Mining (B) shares were up 3% after the company reported higher Q1 adjusted earnings and revenue. The mining firm also reduced its quarterly dividend and authorized a $3 billion share repurchase program. Constellation Energy (CEG) stock was up 1.3% after the company reported its Q1 financial results.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMAT$B$BABA$BN$CEG$CSCO$INTC$PBR$PLTR
Mining & Metals

CIBC Reaffirms Barrick Mining's Outperformer Rating, US$63.00 Price Target, Ahead of Q1 Results

CIBC Capital Markets on Wednesday maintained its outperformer rating on the shares of Barrick Mining (ABX.TO, B) and its US$63.00 price target ahead of the company's first-quarter results.CIBC expects Barrick to book adjusted earnings of US$0.82 per share in the first quarter, higher that its previous estimate of US$0.73 per share, following a read-through of Nevada Gold Mines results from Newmont's (NEM) earnings.NGM looks to have had a strong start to the year, which will likely provide a tailwind into Barrick's first-quarter earnings that will be released May 11, CIBC said.The recent assassination of Mali's defense minister in Mali and a development pause at the Reko Diq project in Pakistan represent headwinds for Barrick, CIBC said.Price: $52.95, Change: $+0.37, Percent Change: +0.69%

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