Barrick Mining shares rose 1.2% as gold prices recovered above $4,300, bolstered by strong quarterly earnings and a positive market reaction to the Federal Reserve's latest interest rate decision.
Barrick gained 1.2% after a Buy rating initiation and gold recovery above $4,300, though Bernstein trimmed its target.
Gold recovered above $4,300 as oil price increases lost momentum and inflation concerns eased after the Fed hike.
S&P 500 rose 0.9% following the Federal Reserve's rate announcement.
Dow Jones gained 0.8% after the Fed decision.
Nasdaq advanced 1.1% following the rate hike.
Barrick Mining shares climbed 1.2% to $43.06 following a new Buy rating initiation and a recovery in gold prices above $4,300 per ounce. Despite Bernstein lowering its price target to $56.50 from $61, the stock remains supported by a 50% year-over-year increase in second-quarter earnings and a broader market rally following the Federal Reserve's 25 basis point rate hike.
The stock gained due to a new Buy rating initiation, a recovery in gold prices above $4,300, and strong Q2 2026 earnings growth of 50% year-over-year.