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Barrick Mining Corporation (TSE:ABX)
:ABX

Barrick Mining (ABX) AI Stock Analysis

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Barrick Mining

(NYSE:ABX)

Rating:77Outperform
Price Target:
C$30.00
▲(8.81%Upside)
Barrick Mining receives a strong overall score due to its robust financial performance and strategic focus on growth and sustainability. While technical indicators are mixed, the company's valuation and positive earnings call contribute significantly to its positive outlook. Challenges in Mali and operational downtime pose some risks but are outweighed by the company's strengths.
Positive Factors
Cash Flow
The company reported strong free cash flow in Q1’25 of $375 million, which was well above expectations.
Financial Performance
Barrick Mining reported better than forecast Q1’25 adjusted earnings and maintained its 2025 guidance, including gold production of 3.15-3.5 million ounces, excluding the Malian operations.
Growth Potential
Positive momentum from optimization of existing assets and organic growth projects will have the potential to drive share price performance above peers.
Negative Factors
Investor Confidence
Barrick has a poor record of delivery against guidance for the last 4 years, which could affect investor confidence.
Operational Risks
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 offset the company's quality asset-base and excellent exploration potential.

Barrick Mining (ABX) vs. iShares MSCI Canada ETF (EWC)

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 MoneyBarrick Gold makes money primarily through the extraction and sale of gold and copper. The company's revenue model is centered around mining operations, where it explores, develops, and produces gold and copper from its various mining sites. Key revenue streams include the sale of gold and copper directly to refineries and other buyers. Barrick also engages in joint ventures and partnerships with other mining companies to optimize resource extraction and share operational risks. Additionally, the company focuses on cost management and operational efficiency to enhance profitability. Fluctuations in commodity prices, production volumes, and operational costs are significant factors that influence Barrick's earnings.

Barrick Mining Earnings Call Summary

Earnings Call Date:May 07, 2025
(Q1-2025)
|
% Change Since: 4.47%|
Next Earnings Date:Aug 11, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong production and financial performance, progress in sustainability, and advancements in growth projects. However, challenges in Mali, operational downtime, and complexities at Kibali offset some positive aspects.
Q1-2025 Updates
Positive Updates
Positive Production and Financial Results
Production was up at the top of the guidance, and forecast improvements throughout the year. Dividends maintained at $0.10 per share, debt reduced, and share buyback program continued. Announced $1 billion sale of Donlin and rationalizing portfolio to focus on Tier-1 assets.
Operational and Sustainability Achievements
Significant projects completed at Pueblo Viejo, Nevada Gold Mines, and Lumwana. Copper had a great quarter, with full-year production targets on track for both gold and copper. Strong progress in sustainability with improvements in lost time injury frequency rate and total recordable injury frequency rate.
Advancements in Growth Projects
Growth projects gaining momentum with Pueblo Viejo ramping up, Fourmile moving to pre-feasibility, Lumwana and Reko Diq moving to construction, and a new discovery within the Reko Diq mining lease.
Exploration and Resource Expansion
Drilling project at Norris kicked off, and progress in other project opportunities. Drilling permits applied for in Pascua-Lama, and exploration across the Central African copper belt and other regions continue.
Negative Updates
Challenges in Mali
Operations at Loulo-Gounkoto remain suspended, with ongoing engagement with the transitional government to achieve a long-term solution. Current costs around $15 million a month, with potential to reduce to under $10 million on full care and maintenance.
Operational Downtime and Maintenance
Goldstrike roaster planned maintenance resulted in downtime, affecting production. Planned maintenance at Nevada Gold Mines impacted Q1 results, with expectations for improvement in Q2 and the second half.
Complexities at Kibali
Lower production in Q1 due to lower ore grades from underground, expected to improve over the year. Complex geological structures requiring ongoing exploration and analysis.
Company Guidance
In the first quarter of 2025, Barrick Mining Corporation reported production at the top of its guidance range with expectations of continued improvements throughout the year. The company maintained its dividend at $0.10 per share, reduced debt, and continued its share buyback program. A $1 billion sale of Donlin was completed as part of a strategic focus on Tier-1 assets. Operational highlights included significant projects at Pueblo Viejo, Nevada Gold Mines, and Lumwana, positioning the company well for the rest of the year and beyond. Copper production was strong, aligning with full-year targets. Financially, the company experienced significant growth in operating cash flow, free cash flow, and earnings, bolstered by higher gold prices. Sustainability efforts included a 31,000 critical control verification initiative and improvements in the lost time injury frequency rate. Environmental permits were secured at Reko Diq, and a social metric tracker aligned with the UN Sustainable Development Goals was implemented. Overall, Barrick demonstrated resilience and strategic focus, supported by a portfolio of long-life gold assets and a growing copper business, with ongoing exploration and operational enhancements across its global sites.

Barrick Mining Financial Statement Overview

Summary
Barrick Mining shows commendable financial health with robust profitability, a solid balance sheet, and strong cash flow generation. The company demonstrates consistent revenue growth and maintains low leverage, ensuring financial stability. While the growth rate is moderate, the firm’s operational efficiency and cash management are noteworthy strengths.
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.
Breakdown
TTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
13.30B12.92B11.40B11.01B11.98B12.60B
Gross Profit
5.37B4.96B3.46B3.52B4.90B5.18B
EBIT
4.85B4.31B2.47B3.36B4.82B4.90B
EBITDA
7.30B7.01B5.16B3.70B6.65B7.73B
Net Income Common Stockholders
2.32B2.14B1.27B432.00M3.29B3.61B
Balance SheetCash, Cash Equivalents and Short-Term Investments
4.10B4.07B4.15B4.44B5.28B5.19B
Total Assets
48.14B47.63B45.81B45.97B46.89B46.51B
Total Debt
4.73B5.26B5.22B5.25B5.47B5.36B
Net Debt
623.00M1.18B1.07B810.00M193.00M176.00M
Total Liabilities
14.58B14.37B13.81B14.68B14.58B14.80B
Stockholders Equity
24.45B24.29B23.34B22.77B23.86B23.34B
Cash FlowFree Cash Flow
1.70B1.32B646.00M432.00M1.94B3.36B
Operating Cash Flow
4.98B4.49B3.73B3.48B4.38B5.42B
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 Price27.57
Price Trends
50DMA
26.56
Positive
100DMA
25.74
Positive
200DMA
25.57
Positive
Market Momentum
MACD
0.25
Negative
RSI
61.04
Neutral
STOCH
90.13
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ABX, the sentiment is Positive. The current price of 27.57 is above the 20-day moving average (MA) of 26.08, above the 50-day MA of 26.56, and above the 200-day MA of 25.57, indicating a bullish trend. The MACD of 0.25 indicates Negative momentum. The RSI at 61.04 is Neutral, neither overbought nor oversold. The STOCH value of 90.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ABX.

Barrick Mining Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
TSAEM
80
Outperform
$86.10B25.8611.45%1.30%32.68%419.46%
TSABX
77
Outperform
C$47.41B14.869.70%1.99%19.13%66.78%
TSK
77
Outperform
$26.41B15.6918.12%0.78%30.84%188.80%
TSWPM
75
Outperform
$57.11B65.928.51%0.69%37.40%8.55%
TSFNV
74
Outperform
C$46.63B53.9610.19%0.83%-7.22%
TSAGI
74
Outperform
$15.76B43.567.85%0.37%37.83%24.13%
51
Neutral
$2.01B-1.11-21.16%3.67%2.69%-30.65%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:ABX
Barrick Mining
27.57
4.39
18.96%
TSE:AGI
Alamos Gold
37.09
14.07
61.12%
TSE:K
Kinross Gold
21.20
10.39
96.11%
TSE:WPM
Wheaton Precious Metals
126.99
51.67
68.61%
TSE:FNV
Franco-Nevada
242.61
74.67
44.46%
TSE:AEM
Agnico Eagle
169.26
76.95
83.35%

Barrick Mining Corporate Events

M&A TransactionsBusiness Operations and Strategy
Barrick Mining Sells 50% Stake in Donlin Gold Project for $1 Billion
Neutral
Jun 3, 2025

Barrick Mining Corporation has finalized the sale of its 50% stake in the Donlin Gold Project in Alaska to Paulson Advisers LLC and NOVAGOLD Resources Inc. for $1 billion in cash. This divestiture is a strategic move that could impact Barrick’s operational focus and financial positioning, potentially allowing the company to reallocate resources to other projects or investments, thereby influencing its market strategy and stakeholder interests.

The most recent analyst rating on (TSE:ABX) stock is a Buy with a C$27.00 price target. To see the full list of analyst forecasts on Barrick Mining stock, see the TSE:ABX Stock Forecast page.

Legal ProceedingsBusiness Operations and Strategy
Barrick Mining Challenges Malian Government’s Move on Loulo-Gounkoto Operations
Negative
May 26, 2025

Barrick Mining Corporation is currently opposing the Malian government’s attempt to take over the day-to-day operations of the Loulo-Gounkoto mining complex. The government has requested a court-appointed provisional administration, which Barrick argues is unjustified and contrary to Malian law and existing agreements. Despite the suspension of operations and the detention of employees, Barrick continues to support its workforce and seeks a fair resolution through international arbitration. The company’s actions highlight its commitment to protecting its investments and ensuring the long-term viability of its operations in Mali.

The most recent analyst rating on (TSE:ABX) stock is a Buy with a C$27.00 price target. To see the full list of analyst forecasts on Barrick Mining stock, see the TSE:ABX Stock Forecast page.

Business Operations and Strategy
Barrick Mining Advances Sustainable Development Goals with New Report
Positive
May 19, 2025

Barrick Mining Corporation has released its 2024 Sustainability Report, ‘Beyond the Horizon,’ highlighting its commitment to the United Nations’ Sustainable Development Goals. The report details Barrick’s efforts in economic growth, social progress, and environmental protection, including over $100 billion distributed in economic value and $200 million invested in community-led projects since its 2019 merger. The company is also recalibrating its greenhouse gas emissions profile to align with its expanding production base and renewable energy initiatives, aiming for a Net Zero target by 2050. Barrick’s new site-level Sustainable Development Goal performance framework underscores its dedication to transparent, community-focused progress, with significant investments in local economies and infrastructure.

The most recent analyst rating on (TSE:ABX) stock is a Buy with a C$27.00 price target. To see the full list of analyst forecasts on Barrick Mining stock, see the TSE:ABX Stock Forecast page.

Delistings and Listing ChangesBusiness Operations and Strategy
Barrick Mining Corporation Adopts New Ticker Symbol ‘B’ on NYSE
Positive
May 9, 2025

Barrick Mining Corporation has changed its ticker symbol on the New York Stock Exchange to ‘B’, highlighting its status as a major player in the gold and copper mining industry. This move aligns with Barrick’s strategy to strengthen its position in the market by focusing on sustainable growth in gold and copper production, which is expected to benefit from rising global demand for electrification and infrastructure.

Stock BuybackDividends
Barrick Mining Declares Q1 Dividend and Completes Share Buyback
Positive
May 7, 2025

Barrick Mining Corporation announced a dividend of $0.10 per share for Q1 2025, in line with its Performance Dividend Policy. Additionally, the company repurchased approximately 7.69 million shares, reflecting its strong operational performance and financial health. This move underscores Barrick’s commitment to delivering substantial returns to shareholders while maintaining a robust balance sheet to support future growth initiatives.

Stock BuybackDividendsBusiness Operations and StrategyFinancial Disclosures
Barrick Gold Reports Strong Q1 2025 Results and Advances Strategic Growth
Positive
May 7, 2025

Barrick Mining Corporation reported a strong start to 2025 with significant progress on strategic growth objectives. The company saw a 59% increase in net earnings per share and an 84% rise in adjusted net earnings per share compared to the previous year. Operating cash flow increased by 59% to $1.2 billion, and free cash flow improved materially, enabling a 5% reduction in net debt. Barrick maintained its full-year guidance for gold and copper production, with costs per ounce expected to trend lower. Key growth projects, including Reko Diq and Lumwana, are advancing, and the company is focused on expanding its gold-equivalent ounces by 30% by the end of the decade. Barrick also demonstrated its commitment to sustainability and shareholder returns through share buybacks and dividends.

Delistings and Listing ChangesExecutive/Board ChangesShareholder Meetings
Barrick Gold Rebrands as Barrick Mining Corporation and Confirms Board of Directors
Neutral
May 6, 2025

Barrick Mining Corporation announced a name change from Barrick Gold to Barrick Mining Corporation, effective May 9, 2025, following shareholder approval. The company’s shares will trade under the new ticker symbol ‘B’ on the New York Stock Exchange, while retaining ‘ABX’ on the Toronto Stock Exchange. Additionally, the election of directors was confirmed, with all nominees successfully elected, signaling stability and continuity in leadership.

Delistings and Listing ChangesBusiness Operations and Strategy
Barrick Gold to Rebrand as Barrick Mining Corporation
Neutral
Apr 28, 2025

Barrick Gold Corporation announced its intention to change its name to Barrick Mining Corporation, subject to shareholder approval, to better reflect its focus on both gold and copper mining. The company plans to change its ticker symbol on the NYSE to ‘B’ while maintaining ‘ABX’ on the TSX, aligning with its strategy to grow sustainably and profitably in the gold and copper sectors.

M&A TransactionsBusiness Operations and Strategy
Barrick Gold Sells Stake in Donlin Gold Project for $1 Billion
Positive
Apr 22, 2025

Barrick Gold Corporation has announced the sale of its 50 percent stake in the Donlin Gold Project in Alaska to Paulson Advisers LLC and NOVAGOLD Resources Inc. for $1 billion in cash. This strategic move allows Barrick to optimize its asset portfolio by focusing on its core operations and growth projects, while NOVAGOLD and Paulson will develop the Donlin Gold Project. The transaction is expected to strengthen Barrick’s balance sheet and support shareholder returns, pending customary closing conditions and regulatory approvals.

M&A TransactionsBusiness Operations and Strategy
Barrick Gold Sells Stake in Donlin Gold Project for $1 Billion
Positive
Apr 22, 2025

Barrick Gold Corporation has announced the sale of its 50% stake in the Donlin Gold Project in Alaska to Paulson Advisers LLC and NOVAGOLD Resources Inc. for $1 billion in cash. The transaction allows Barrick to optimize its asset portfolio by exiting the project at an attractive valuation, while NOVAGOLD and Paulson will continue its development. The proceeds from the sale will be used to strengthen Barrick’s balance sheet and support its strategic focus on sustainable growth projects. The transaction is expected to close by mid-2025, pending regulatory approvals.

Legal ProceedingsBusiness Operations and Strategy
Barrick Gold Faces Escalating Tensions with Mali Government
Negative
Apr 15, 2025

Barrick Gold Corporation is facing escalating tensions with the Government of Mali, despite efforts to finalize an agreement initially accepted by the Ministry of Finance. The situation has worsened with the detention of Barrick employees, suspension of gold shipments, and threats to place the Loulo-Gounkoto mine under provisional administration. Barrick emphasizes the potential economic benefits for Mali if the agreement is executed, including unlocking substantial revenue and resolving unfounded criminal charges. The company remains committed to finding a constructive solution but is prepared to pursue international arbitration if necessary.

Financial Disclosures
Barrick Gold to Announce Q1 2025 Results on May 7
Neutral
Apr 11, 2025

Barrick Gold Corporation has announced that it will release its first quarter 2025 financial results on May 7, 2025. The results will be presented by President and CEO Mark Bristow during a live presentation and interactive webinar, which will allow participants to ask questions. This announcement is significant for stakeholders as it provides insights into the company’s financial health and operational performance, potentially impacting its market positioning and investor confidence.

Private Placements and FinancingShareholder MeetingsBusiness Operations and Strategy
Barrick Gold Advances Reko Diq Project with Fluor as EPCM Partner
Positive
Apr 8, 2025

Barrick Gold Corporation has received shareholder approval for the updated Feasibility Study and Phase 1 development capital for the Reko Diq project in Balochistan, Pakistan, contingent on securing up to $3 billion in project financing. The company has appointed Fluor Corporation as the lead Engineering, Procurement, and Construction Management partner, with the aim of commencing major works in 2025 and achieving first production by the end of 2028. This development marks a significant milestone for Barrick, reflecting strong governmental support and reinforcing its commitment to responsible and efficient project execution, with a focus on community development and maximizing local content.

Business Operations and StrategyFinancial Disclosures
Barrick Gold Advances Key Projects and Strengthens Sustainability Efforts
Positive
Mar 14, 2025

Barrick Gold Corporation has reported significant progress in its key growth projects, including the Lumwana Super Pit Expansion in Zambia and the Reko Diq project in Pakistan, both of which have confirmed their Tier One potential. The company successfully replaced all the gold and copper it mined, ensuring a strong reserve base for future growth. Barrick’s financial strength allows it to invest in these projects without issuing new shares or incurring debt, while its sustainability efforts and local partnerships remain central to its operations. The company also continues to diversify its Board, with a focus on enhancing diversity.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.