Ganovsky Matthew sold $176K of ABX

Analysts updated ratings on three financial stocks: Zurich Insurance Group (ZFSVF) received a Hold rating with a CHF520 price target, Abacus Global Management (ABX) a Buy with a $13.50 target, and Blackstone Group (BX) a Buy with a $140 target. Consensus ratings and targets vary, with ZFSVF at Moderate Buy ($712.30), ABX at Strong Buy ($14.13), and BX at Moderate Buy ($145.50).

Unions at Barrick Mining's (TSX: ABX) Loulo-Gounkoto gold complex in Mali have issued strike notices, citing unmet demands. Strikes could begin September 28, affecting one of Mali's largest gold operations. Mali has tightened control over its mining sector, and the complex's production is still recovering from a dispute.

Barrick Mining (TSX:ABX) announced a $3b share buyback, reflecting its cash generation. The company is expanding into copper with projects like Reko Diq and Lumwana. Analysts forecast revenue of $24.9b and earnings of $7.1b by 2029, with a fair value estimate of CA$65.74, a 7% upside from the current share price of CA$61.56. The buyback and copper focus are key factors for investors.

The TSX rose 21.03 points to 36,654.15 by noon, with BRP gaining 5.7% after an upgrade. SSR Mining and Barrick Mining declined. The Canadian dollar dipped to 72.25 cents. U.S. jobs data boosted Fed rate hike bets, impacting global markets.

Abacus Global Management (NYSE: ABX) reaffirmed its FY26 adjusted EPS guidance of $1.00 to $1.05, exceeding the analyst estimate of $0.99. The company will report Q2 2026 results on August 6, 2026, with a conference call scheduled for the same day. Abacus specializes in alternative asset management and data-driven financial solutions.

Abacus Global Management (NYSE: ABX) reported Q2 2026 revenue of $73.0M, up 30% YoY. Adjusted net income exceeded guidance at $27.1M. Adjusted EBITDA rose 27% to $39.9M, maintaining a 55% margin. The company deployed $200M in capital, up 62% YoY, and raised its quarterly target to $150M-$175M. It also changed its valuation methodology to a market-based approach. Asset management raised over $1B in the last year, with annualized distributions reaching 10%.