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Barrick Mining Corporation (B)
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Barrick Mining (B) AI Stock Analysis

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B

Barrick Mining

(NYSE:B)

Rating:56Neutral
Price Target:
Barnes Group's stock score reflects strong technical momentum and a positive corporate event in the recent acquisition by Apollo Funds. However, the score is moderated by financial performance challenges, particularly in profitability and leverage, as well as valuation concerns with the negative P/E ratio.
Positive Factors
Copper Business Performance
The copper business looks good with production above the midpoint and costs at the low end of guidance.
Free Cash Flow
The company reported strong free cash flow in Q1’25 of $375 million, which was well above expectations.
Gold Discovery
Fourmile is rapidly competing to be the largest and highest grade gold discovery in the industry, with potential for a significant increase in resource.
Negative Factors
Mali Shutdown
The shutdown in Mali is costing the company ~$15M per month in cash.
Political and Technical Challenges
Political challenges in Mali and technical difficulties at Pueblo Viejo are affecting Barrick Mining.
Unit Costs
Unit costs are coming in above guidance.

Barrick Mining (B) vs. SPDR S&P 500 ETF (SPY)

Barrick Mining Business Overview & Revenue Model

Company DescriptionBarrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. It has ownership interests in producing gold mines that are located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, Dominican Republic, Mali, Tanzania, and the United States. The company also has ownership interests in producing copper mines located in Chile, Saudi Arabia, and Zambia; and various other projects located throughout the Americas and Africa. Barrick Gold Corporation was founded in 1983 and is headquartered in Toronto, Canada.
How the Company Makes MoneyBarnes Group Inc. generates revenue through the sale of precision components, assemblies, and related services in its Industrial and Aerospace segments. The Industrial segment makes money by providing highly engineered products used in a range of applications, including automation, transportation, and industrial manufacturing. In the Aerospace segment, the company earns revenue by supplying OEMs with components for aircraft and offering aftermarket services to support aircraft maintenance and repair. Significant partnerships with leading aerospace companies and a diverse customer base in various industrial sectors contribute to the company's earnings. Additionally, the company's focus on innovation and efficiency helps maintain competitive pricing and profitability.

Barrick Mining Earnings Call Summary

Earnings Call Date:Aug 11, 2025
(Q2-2025)
|
% Change Since: 12.16%|
Next Earnings Date:Nov 06, 2025
Earnings Call Sentiment Positive
The earnings call highlighted a strong performance with record earnings per share, a robust net cash position, and operational improvements. Despite some challenges in Mali and stockpile management, the company's outlook appears promising.
Q2-2025 Updates
Positive Updates
Earnings Per Share Surge
Earnings per share more than doubled compared to last year with adjusted earnings per share at $0.47, marking the highest since 2013.
Net Cash Position
The company finished the quarter in a net cash position, allowing continued share buybacks and strengthening of the balance sheet.
Significant Dividend Announcement
A total dividend of $0.15 per share was approved, including a $0.05 performance top-up.
Operational Improvements
Production improved across the portfolio with solid contributions from Nevada Gold Mines, Pueblo Viejo, Kibali, and Lumwana.
Reduction in All-In Sustaining Costs
Attributable gold production increased and there was a continued reduction in all-in sustaining costs.
Successful Sale of Donlin Gold Project
Completed the sale of interest in the Donlin Gold project for $1 billion, reflecting a disciplined approach to capital allocation.
Record Adjusted Earnings Per Share
Achieved the best quarterly adjusted earnings per share in over a decade, supported by improved operating performance and a stronger gold price.
Significant Safety Improvements
Achieved a 50% decrease in Lost Time injuries and a 37% decrease in Total Injuries year-to-date compared to the same period last year.
Negative Updates
Operational Challenges in Mali
Complications in Mali with activities affecting the process, though arbitration and negotiations are ongoing.
Loulo-Gounkoto Asset Impairment
Partial impairment of the Loulo-Gounkoto asset due to loss of control after the government appointed an administrator.
Challenges with Stockpile Deterioration
Some stockpiles, particularly at Pueblo Viejo, are deteriorating, affecting the blend and cash flow.
Company Guidance
In Barrick's second quarter of 2025 results call, President and CEO Mark Bristow highlighted several key metrics and strategic moves. The company's adjusted earnings per share soared to $0.47, the highest since 2013, with net cash provided by operating activities reaching $1.33 billion, a 35% increase from the previous quarter. Barrick maintained a net cash position, enabling continued share buybacks and a total dividend of $0.15 per share, including a $0.05 performance top-up. The company reported improved production across its portfolio, notably from Nevada Gold Mines, Pueblo Viejo, and Lumwana, with a focus on reducing all-in sustaining costs. Barrick completed the sale of its interest in the Donlin Gold project for $1 billion as part of its disciplined capital allocation strategy. Safety improvements were also notable, with a 50% decrease in Lost Time injuries year-to-date. The guidance for the second half of the year aligns with Barrick's initial projections, expecting higher production volumes and lower costs.

Barrick Mining Financial Statement Overview

Summary
Barrick Mining demonstrates strong financial health with robust profitability, a solid balance sheet, and effective cash flow management. The company maintains low leverage and showcases operational efficiency, although revenue growth is moderate.
Income Statement
85
Very Positive
Barrick Mining exhibits strong profitability with a Gross Profit Margin of 40.4% and a Net Profit Margin of 17.5% for TTM. Revenue grew by 3% from the previous year, indicating stable growth. The EBIT Margin is healthy at 36.4%, and the EBITDA Margin is robust at 54.8%, reflecting operational efficiency.
Balance Sheet
78
Positive
The company maintains a solid financial position with a Debt-to-Equity Ratio of 0.19, indicating low leverage. The Return on Equity stands at 9.5%, showcasing efficient use of equity. The Equity Ratio is strong at 50.8%, emphasizing a balanced capital structure.
Cash Flow
82
Very Positive
Barrick Mining demonstrates strong cash flow management with a Free Cash Flow growth of 29% from the previous year. The Operating Cash Flow to Net Income Ratio is 2.1, highlighting cash-generating capability. The Free Cash Flow to Net Income Ratio is 0.73, indicating effective cash conversion.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue13.30B12.92B11.40B11.01B11.98B12.60B
Gross Profit5.37B4.96B3.46B3.52B4.90B5.18B
EBITDA7.30B7.01B5.16B3.70B6.65B7.73B
Net Income2.32B2.14B1.27B432.00M3.29B3.61B
Balance Sheet
Total Assets48.14B47.63B45.81B45.97B46.89B46.51B
Cash, Cash Equivalents and Short-Term Investments4.10B4.07B4.15B4.44B5.28B5.19B
Total Debt4.73B5.26B5.22B5.25B5.47B5.36B
Total Liabilities14.58B14.37B13.81B14.68B14.58B14.80B
Stockholders Equity24.45B24.29B23.34B22.77B23.86B23.34B
Cash Flow
Free Cash Flow1.70B1.32B646.00M432.00M1.94B3.36B
Operating Cash Flow4.98B4.49B3.73B3.48B4.38B5.42B
Investing Cash Flow-2.83B-2.76B-2.82B-1.71B-1.90B-1.29B
Financing Cash Flow-1.98B-1.79B-1.21B-2.60B-2.39B-2.25B

Barrick Mining Technical Analysis

Technical Analysis Sentiment
Positive
Last Price26.28
Price Trends
50DMA
22.06
Positive
100DMA
20.60
Positive
200DMA
18.87
Positive
Market Momentum
MACD
1.14
Negative
RSI
79.06
Negative
STOCH
93.97
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For B, the sentiment is Positive. The current price of 26.28 is above the 20-day moving average (MA) of 23.40, above the 50-day MA of 22.06, and above the 200-day MA of 18.87, indicating a bullish trend. The MACD of 1.14 indicates Negative momentum. The RSI at 79.06 is Negative, neither overbought nor oversold. The STOCH value of 93.97 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for B.

Barrick Mining Risk Analysis

Barrick Mining disclosed 45 risk factors in its most recent earnings report. Barrick Mining reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Barrick Mining Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.28B6.360.65%2.93%3.32%-39.60%
56
Neutral
$45.03B16.4511.41%1.53%19.79%-262.11%
$68.66B23.2813.92%1.17%
$35.61B45.4112.61%0.81%
$23.86B15.7422.05%0.61%
$43.34B54.9610.60%0.68%
$11.93B34.3710.18%0.35%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
B
Barrick Mining
26.28
6.27
31.33%
AEM
Agnico Eagle
136.62
55.76
68.96%
FNV
Franco-Nevada
182.60
59.35
48.15%
KGC
Kinross Gold
19.72
10.85
122.32%
WPM
Wheaton Precious Metals
95.50
33.59
54.26%
AGI
Alamos Gold
28.39
8.99
46.34%

Barrick Mining Corporate Events

Delistings and Listing ChangesM&A TransactionsBusiness Operations and Strategy
Barnes Group Acquired by Apollo Funds in 2025
Positive
Jan 27, 2025

On January 27, 2025, Apollo Funds completed the acquisition of Barnes Group Inc. in an all-cash transaction valued at approximately $3.6 billion. This acquisition marks a significant phase in Barnes’ evolution, aiming to enhance growth and innovation in its aerospace and industrial sectors. Barnes’ common stock ceased trading and has been delisted from the New York Stock Exchange. The transaction is expected to strengthen Barnes’ market position and accelerate its transformation strategy under Apollo’s ownership.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 28, 2025