Barrick Gold stock rallies nearly 4% as Newmont JV deal expands project portfolio

Traders Union
All News
Stocks
Barrick Gold surges 3.74% today

Highlights

Barrick Gold will release Q3 2026 earnings on November 9 with investors watching for results amid portfolio expansion.
Newmont will pay Barrick $1.95 billion to bring the Fourmile project into the Nevada Gold Mines partnership.
Shares of Barrick Gold trade below major moving averages with bearish, oversold momentum and an expected price range of C$51.09 to C$56.03 over five days.

Portfolio gains as Fourmile deal drives JV flows and positioning

Barrick Gold is set to release its Q3 2026 earnings before the market opens on November 9. The company also finalized an amended joint-venture agreement under which Newmont will pay Barrick $1.95 billion to include the Fourmile project in the Nevada Gold Mines partnership, expanding its project portfolio. Barrick continues to operate as a leading global miner of gold and copper with assets across multiple continents.

Anton Kharitonov, expert at Traders Union, sees little cause for optimism in Barrick Gold's current technical setup. He notes that the stock remains under all major moving averages, with bearish momentum dominating and oversold conditions persisting. Despite the Fourmile project news, fundamental sentiment stays skeptical given sustained selling and weak price structure. The confirmed earnings date and joint venture expansion have not materially shifted negative market dynamics. "The technicals remain firmly on the side of sellers and any recovery attempts look vulnerable unless C$55.57 is reclaimed with conviction," Kharitonov states.

Viktoras Karapetjanc, expert at Traders Union, emphasizes the strategic value of Barrick Gold's partnership with Newmont and the expansion of the project portfolio. He believes the sizable $1.95 billion inflow positions Barrick strongly for future growth in the precious metals sector. Upcoming Q3 2026 results and enhanced asset mix provide a foundation for renewed investor confidence. Karapetjanc views the latest news as a catalyst for constructive sentiment. "With the Fourmile deal secured and institutional backing evident, the bullish structure remains intact and further upside is only a matter of time," he says.

Sholanke Dele, market strategist, remains critical of Barrick Gold's near-term prospects. He observes that, despite headline news and a brief rally, broader market sentiment appears muted. The anticipated earnings release may not spark sustained inflows given persistent technical weakness and global macro uncertainties. Dele warns that the current rebound feels shallow. "The risk of another downward leg is elevated — buyers should stay defensive until signals shift decisively," he cautions.

Ongoing weakness as oversold signals counter intraday gains

Barrick Gold trades below its 20-day (C$56.03), 50-day (C$59.25), and 200-day (C$58.57) moving averages, indicating broad-based weakness and sustained selling pressure. The closest resistance is at C$55.57, while immediate support sits at C$53.35. Momentum indicators such as MACD and RSI signal a bearish outlook, and the CCI, Stochastic RSI, and Bull/Bear Power point to oversold conditions, highlighting dominant intraday selling. The ADX and Awesome Oscillator are neutral, suggesting a lack of directional conviction. The stock opened with an upside gap of about C$1.11 (2.15%) and is trading near the session high at C$53.56, with intraday volatility at 1.16%. Current intraday action shows strength toward the highs, even as the technical picture remains bearish and oversold.

Earlier, analysts noted that Barrick Gold was experiencing persistent technical weakness and downside risk, with heightened positioning ahead of its scheduled earnings release. The current analysis strengthens this view by highlighting continued bearish momentum despite recent corporate developments, suggesting traders should monitor the C$55.57 resistance for signs of a potential technical reversal.

Source of Data: ABX Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.