Raymond James Raises Barrick Mining (B) PT to $30 Following $1.09B Hemlo Gold Mine Sale

Group 1 - Barrick Mining Corporation's price target was raised to $30 from $28.50 by Raymond James, maintaining an Outperform rating [1] - Barrick announced the sale of its Hemlo Gold Mine in Ontario, Canada, to Carcetti Capital Corp. for approximately $1.09 billion [2] - The sale includes an upfront cash payment of $875 million, $50 million in equity, and contingent payments tied to gold prices that could total up to $165 million starting in 2027 [2][3] Group 2 - The proceeds from the Hemlo Gold Mine sale will support Barrick's balance sheet and are part of a broader strategy to streamline its portfolio [3] - Total proceeds from recent asset divestments are expected to exceed $2 billion in 2023 [3] - The transaction is anticipated to close in Q4 2025 [3]