On July 7, Barrick Mining declined 3.12% in regular trading, trading at $37.06/share, with turnover of $107 million. The decline came amid broad weakness across the gold mining sector driven by a strengthening U.S. dollar and multiple investment bank target price reductions.

On the macro front, a firmer dollar weighed on precious metals prices, putting downward pressure on the entire gold mining sector. Meanwhile, UBS recently cut its price target on Barrick Mining to $50 from $54 while maintaining a Buy rating, following an earlier move by RBC Capital Markets which slashed its target to $51 from $62, keeping an Outperform rating. Despite the reductions, both banks maintained positive ratings on the stock.

Within the Gold sector, broad-based selling was evident. Coeur Mining fell 5.50%, Newmont Mining declined 3.24%, Kinross dropped 2.79%, Agnico Eagle Mines lost 2.63%, and Pan American Silver fell 2.41%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)