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Wire

Market Chatter: Barrick Said to Consider Pushing Back North America Gold IPO to 2027

Barrick Mining (B) is considering delaying the initial public offering of its North American gold business until 2027, Bloomberg reported Wednesday, citing a person familiar with the matter.The IPO for the North American assets was on schedule to be completed this year, the report said, citing comments from the company's Aug. 10 earnings call.Barrick didn't immediately reply to a request for comment from.(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: $43.87, Change: $+0.77, Percent Change: +1.79%

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Wire

Barrick Said to Consider Pushing Back North America Gold IPO to 2027, Bloomberg Reports

Barrick Said to Consider Pushing Back North America Gold IPO to 2027, Bloomberg Reports

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Wire

Newmont's Nevada Gold Mines Dispute Resolution Positive for Cash Returns, Growth, UBS Says

Newmont's (NEM) agreement with Barrick Mining (B) to resolve the Nevada Gold Mines dispute is positive for Newmont, removing an overhang and supporting its ability to return cash to shareholders, UBS Securities said in a note Tuesday.The analysts said Newmont ended Q2 with $3.4 billion of net cash, above its $1 billion to $3 billion target range. After the $1.95 billion payment, net cash would fall to around $1.5 billion, still within its target range.The analysts estimate Newmont could return more than $3 billion through buybacks and dividends in H2, bringing total 2026 cash returns to more than $7 billion while remaining within its target cash range.The agreement also provides potential long-term growth from Barrick's Fourmile project, which UBS estimates could produce 600,000 to 750,000 ounces annually beginning in the early 2030s, with about 275,000 ounces attributable to Newmont.The litigation between Newmont and Barrick over management of Nevada Gold Mines had weighed on sentiment toward both companies, and that resolving the disputes could lay the groundwork for a more constructive partnership, according to the note.UBS has a buy rating and $120 price target on Newmont.Price: $116.72, Change: $-0.54, Percent Change: -0.46%

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Mining & Metals

Barrick Mining Appoints Sebastiaan Bock as CEO, Rest of World

Barrick Mining (ABX.TO, B) said Tuesday it appointed Sebastiaan Bock as chief executive officer, rest of world, effective immediately.Bock will lead the company's gold and copper operations and projects outside North America and will report to Barrick chief executive Mark Hill, the company said."Seb's experiences and accomplishments are tailor-made for Barrick to build on this unique advantage. He has experience across operations, finance, strategic planning, geopolitical issues, human resources, and risk management. Seb is the ideal person to grow our Rest of World business," Hill said in a release.The company's rest of world portfolio includes gold and copper assets across Africa, the Middle East, Latin America, and Asia Pacific.Barrick shares slipped $0.03 to $40.85 in premarket New York trade. They closed down C$3.93, or 6.4%, to C$57.03 Monday on the Toronto Stock Exchange.

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Wire

Top Midday Stories: Intel Offers $15 Billion of Common Stock; Microsoft to Ramp Up Production of Homegrown AI Chip

Stocks were relatively flat on Monday, as investors await further developments on the status of negotiations between the US and Iran.In company news, Intel (INTC) said Monday it's offering $15 billion of common stock in a public offering, the proceeds of which will go toward general corporate purposes, including capital expenditures and working capital. Intel shares were down 3.5% around midday.Microsoft (MSFT) intends to significantly increase production of its internally designed AI chips next year and hopes to persuade Anthropic and other large cloud customers to use them, The Information reported Monday, citing two people with direct knowledge. The tech giant plans to unveil its new Maia 300 chip this fall, possibly as soon as September, the report said, citing one of the people. Microsoft shares were up 1.8%.Archer Aviation (ACHR) has signed definitive agreements to acquire Boeing's (BA) Wisk Aero, SkyGrid and Insitu units, the companies said Monday. Archer shares were up 13.4%, while Boeing shares were up 0.5%.SpaceX (SPCX) retail investors sold shares for the first time last Friday since the June IPO, with the sales reaching a net $4.5 million in stock, Reuters reported Monday, citing data from Vanda Research. SpaceX shares were down 1.7%.Barrick Mining (B) reported Q2 adjusted net earnings Monday of $0.82 per share, up from $0.47 a year earlier but below the FactSet consensus analyst estimate of $0.83. Second-quarter revenue was $5.29 billion, up from $3.68 billion a year ago and above the FactSet consensus of $5.19 billion. Separately, Barrick Chairman John Thornton's plan to spin off the company's North American mines in an IPO is facing opposition from its major shareholders, Bloomberg reported Sunday. Lastly, Barrick and Newmont (NEM) said Monday they've agreed to contribute excluded properties to the Nevada Gold Mines joint venture. The agreement resolves all outstanding disputes, the companies said. Barrick shares were down 6.9%.GameStop (GME) Chief Executive Ryan Cohen is considering pulling the company's $56 billion bid for eBay (EBAY), Bloomberg reported Monday, citing people familiar with the matter. Cohen is instead considering a proposal for a joint venture or partnership that would let eBay leverage GameStop's roughly 1,600 US retail locations, the report said, citing the people. GameStop shares were flat, while eBay shares were down 3.6%.Sionna Therapeutics (SION) said Monday it won't advance SION-719 as an add-on therapy to standard of care Trikafta in cystic fibrosis patients after a phase 2a proof-of-concept failed to meet its key activity endpoint of seat chloride reduction. Sionna shares were down 92%.Price: $98.11, Change: $-3.54, Percent Change: -3.48%

$ACHR$B$BA$EBAY$GME$INTC$MSFT$SION$SPCX
Mining & Metals

Barrick Mining Q2 Adjusted Net Earnings and Revenue Rise; Reaches an Agreement with Newmont

Barrick Mining (ABX.TO, B) reported second-quarter adjusted net earnings of $0.82 per basic share, compared with $0.47 per basic share a year earlier.Analysts polled by FactSet expected $0.83 on average.Revenue for the quarter ended June 30 was $5.29 billion compared with $3.68 billion a year earlier, the company added Monday.The company reduced 2026 total attributable capital expenditure to $3.8 billion to $4.2 billion, from $4.0 billion to $4.45 billion previously, it said.The company also declared a second quarter dividend of $0.175 per share, to be paid on Sept. 15, to shareholders of record at the close of business on Aug. 31, it added.Additionally, the company reached an agreement with Newmont (NEM) to expand the assets in the Nevada Gold Mines Joint Venture, resolving all outstanding disputes related to the joint venture, it said. The companies will contribute excluded properties, including Barrick's Fourmile and Newmont's Fiberline and Mike developments, into the joint venture, and Newmont will pay the company a top-up payment of $1.95 billion, said the company.Newmont has also given its consent to Barrick's proposed IPO of its North American gold assets, added Barrick.The company's shares last traded Friday, closing down C$5.12, or 8.4%, to C$55.8 on the Toronto Stock Exchange.Price: $56.05, Change: $-4.91, Percent Change: -8.05%

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Asia Markets

Update: US Equity Futures Mostly Flat Pre-Bell Amid Lack of Progress in Middle East Peace Negotiations

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mostly flat pre-bell Monday as traders evaluated the lack of solid progress on a peace deal in the Middle East.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were flat, and Nasdaq futures were 0.1% lower.Iranian Foreign Minister Abbas Araqchi said that the nation would not restart direct talks with the US as long as it continues violating the June memorandum of understanding. Araqchi added that reopening the Strait of Hormuz would be partly conditional on the US paying for damage caused during the conflict between the two nations.President Donald Trump said that the US is "only semi-negotiating" with Iran as the Middle Eastern nation undergoes an economic crisis due to sky-high inflation and has no money to pay its troops, according to an Axios report on Sunday.Expected report their financial results this week are Cisco Systems (CSCO), Applied Materials (AMAT), and Brookfield (BN).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.9% at $85.13 per barrel and US West Texas Intermediate crude 2% higher at $79.72 per barrel.The economic calendar is vacant.In other world markets, Japan's Nikkei closed 2.1% higher, Hong Kong's Hang Seng ended 1.1% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, SpaceX (SPCX) shares rose 1.3% after Reuters reported that retail investors sold shares for the first time last Friday since the June IPO. Meta Platforms (META) stock was up 1.9% after Chief Executive Mark Zuckerberg called for lower US regulatory barriers for open-weight artificial intelligence models to help American companies compete with Chinese rivals.Newmont (NEM) shares were 2.5% higher, while Barrick Mining (B) stock fell 6.2%, after the two companies said they agreed to contribute excluded properties, including Barrick's Fourmile and Newmont's Fiberline and Mike developments, to the Nevada Gold Mines joint venture, in an agreement wherein Newmont will pay Barrick $1.95 billion for the contribution of the properties.On the losing side, Intel (INTC) shares dropped 4.1% after the company said it is offering $15 billion of common stock in a public offering. Cloudflare (NET) stock was 1.8% lower after the company said it plans to offer roughly $2.18 billion worth of convertible senior notes due 2031 through a private offering to institutional buyers.

Dow JonesNasdaq CompositeS&P 500$AMAT$B$BN$CSCO$INTC$META$NEM$NET$SPCX
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.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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