Barrick Mining Sells Alturas Project to Boroo for $50 Million

The latest announcement is out from Barrick Mining ( (TSE:ABX) ).

Barrick Mining Corporation has announced the sale of its Alturas Project in Chile to Boroo Pte Ltd for $50 million, along with a 0.5% net smelter return royalty on gold and silver produced from the project. The sale aligns with Barrick’s strategy to optimize its asset portfolio by focusing on long-life, sustainable Tier One gold and copper operations. The transaction is expected to strengthen Barrick’s balance sheet and support its growth projects, while Boroo is anticipated to effectively manage the Alturas Project, benefiting stakeholders.

The most recent analyst rating on (TSE:ABX) stock is a Buy with a C$28.50 price target. To see the full list of analyst forecasts on Barrick Mining stock, see the TSE:ABX Stock Forecast page.

Spark’s Take on TSE:ABX Stock

According to Spark, TipRanks’ AI Analyst, TSE:ABX is a Outperform.

Barrick Mining’s strong financial performance and strategic focus on growth and sustainability are key strengths. Positive technical indicators and a fair valuation support the stock’s potential. However, geopolitical risks and operational challenges in Mali present notable concerns.

To see Spark’s full report on TSE:ABX stock, click here.

More about Barrick Mining

Barrick Mining Corporation is a leading global mining, exploration, and development company with a vast portfolio of world-class and long-life gold and copper assets. The company operates in 18 countries across five continents and is the largest gold producer in the United States. Barrick is committed to responsible mining, strong partnerships, and disciplined growth, with shares traded on the New York Stock Exchange and the Toronto Stock Exchange.

Average Trading Volume: 3,558,132

Technical Sentiment Signal: Buy

Current Market Cap: C$53.77B

For detailed information about ABX stock, go to TipRanks’ Stock Analysis page.