Barrick Gold profit rises on stronger gold prices: ABX remains range-bound

Traders Union
All News
Stocks
Barrick Gold up 0.37% at C$54.16

Highlights

Barrick Mining Corp. reported a quarterly profit of $1.32 billion, recording a year-over-year increase with stable operations.
Adjusted earnings rose to 82 cents US per share from 58 cents US per share as higher realized gold prices improved profit margins.
Shares of Barrick Mining trade below key moving averages with a bearish technical trend and a projected range of C$51.23 to C$57.09 over the next few days.

Earnings grow as higher gold prices offset lower output

Barrick Mining Corp. reported a quarterly profit of US$1.32 billion, marking a slight year-over-year increase that highlights stable operational results and consistent earnings delivery. The company benefited from a significant rise in realized gold prices, improving average revenue per ounce sold and contributing to stronger profit margins, even as gold production edged down to 816,000 ounces. Adjusted earnings rose to 82 cents US per share from 58 cents US per share, underscoring the company's ability to convert higher prices into enhanced bottom-line performance, according to Moneysense.

Sellers in control as weak momentum meets oversold signals

Technically, ABX closed below its MA-20 at C$55.65, MA-50 at C$56.46, and MA-200 at C$57.96, while the immediate resistance stands at the Ichimoku Kijun level of C$57.24. Momentum indicators remain weak: both MACD and ADX generate sell signals, and Bull/Bear Power is negative at –0.76, confirming sellers' dominance intraday. RSI is neutral, while Stochastic RSI and CCI are both oversold, indicating emerging potential for a rebound, though not enough to signal a confirmed reversal.

Sideways movement likely as upside breakout risk remains low

Over the next 2–3 trading days, ABX is expected to fluctuate within the C$51.23–C$57.09 range given current momentum and volatility levels. The probability of an upside breakout is considered very low, while any failure of support near the lower band could prompt a renewed decline. The base case scenario is for prices to move sideways, with a bullish reversal only likely if immediate resistance is decisively broken.

Anton Kharitonov, analyst at Traders Union, sees Barrick Gold holding stable despite modest profit growth and higher realized gold prices. He notes that production slipped and technicals remain weak, with price trading below all major moving averages and little sign of immediate upside momentum. For now, the outlook is neutral to defensive — a sideways range is likely unless resistance around C$57.24 is convincingly breached. "Until we see a clear break above resistance, risk remains to the downside and patience is warranted for any bullish setup."

Previously it was reported that Barrick Gold faced continued downward pressure following its proposed restructuring and asset separation via an IPO. The latest earnings results and modest price recovery add a fundamental dimension to the analysis, but with technicals still weak, traders should closely monitor the C$57.24 resistance for signs of a potential 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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.