One-glance verdict
Within fair range
$42.47 our estimate vs market $42.88
Wall Street consensus: $51.70 (21.7% higher than our fair-value estimate)
1% above our estimate
Fundamentals snapshot
Barrick Mining Corporation
B · NYQ · Basic Materials · Gold
Current price
$42.88
52-week range
$30.35 - $54.69
Market cap
$70.58B
Balance sheet
Healthy
22.36x Strong cushion
Net cash $1.25B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Revenue grew 34.3% last year.
- Reward Returns 27.0% on equity, ahead of 83% of its peers.
- Reward Free cash flow was positive in 4/10 years.
What this company does
Barrick Mining Corporation
Barrick Mining Corporation is in the business of finding and digging up valuable metals, making most of its money from selling gold and copper. The company's financial success is closely tied to the global prices of these metals, so a rise in gold or copper prices often directly increases its profit margins (the portion of each sales dollar the company keeps as profit).
How the company got here
Founded in 1983 by Peter Munk, Barrick started in oil and gas but quickly shifted to gold mining. Instead of searching for new gold deposits, their initial strategy was to buy existing mines and make them more productive. Major acquisitions, like Homestake Mining in 2001 and Placer Dome in 2006, transformed Barrick into one of the world's largest gold miners. A 2019 merger with Randgold Resources and the formation of Nevada Gold Mines with Newmont further solidified its leading position. To reflect its growing copper business, the company changed its name from Barrick Gold Corporation to Barrick Mining Corporation in 2025.
What it actually does
Barrick is a global mining company that finds, develops, and operates mines to produce gold and copper. Think of them as a massive treasure hunter, but instead of chests of gold, they unearth vast quantities of rock containing these valuable metals. They then process this rock to extract the pure gold and copper. These metals are sold on global markets to be used in everything from jewelry and electronics to construction and electric vehicles. Barrick operates mines and projects in numerous countries across North and South America, Africa, the Middle East, and Asia-Pacific.
Gold
This is Barrick's main business and the primary driver of its revenue (the total money it brings in from sales). The company operates several large, long-life gold mines around the world, including major operations in Nevada (USA), the Dominican Republic, and Mali. Customers for its gold are typically refineries and financial institutions that trade in the global bullion market. Gold is a core part of the business because it generates the cash needed to run the company, pay dividends (a share of profits paid to investors), and fund new projects.
Copper
While smaller than its gold business, copper is a growing and strategically important part of Barrick's operations. The company runs significant copper mines in countries like Zambia and Saudi Arabia. Copper is a crucial metal for the global economy, used heavily in construction, electronics, and especially in green energy technologies like electric vehicles and wind turbines. By producing copper, Barrick diversifies its business so it's not solely dependent on the price of gold.
What management is betting on now
Management's strategy is focused on owning and operating what they call 'Tier One' assets — large, long-lasting, and low-cost mines that can remain profitable even when metal prices fluctuate. They are heavily investing in expanding their copper production, seeing it as essential for the global shift to cleaner energy. Key growth projects include the Reko Diq copper-gold project in Pakistan and expanding the Lumwana copper mine in Zambia. The company is also focused on disciplined spending and building strong partnerships with the governments of the countries where it operates.
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2009 Q4
$-4.79B
FY2010 Q4
$567.00M
Revenue
$10.92B
Net income
$3.27B
Diluted EPS
3.28
Operating cash flow
$4.13B
Free cash flow
$567.00M
Fetching…
Sources
Revenue
$8.14B
Net income
$-4.27B
Diluted EPS
-4.73
Operating cash flow
$-2.32B
Free cash flow
$-4.79B
Fetching…
Sources
Is it cheap or expensive?
Fair value $42.47 vs current price $42.88
Wall Street consensus is the average analyst price target: $51.70 (21.7% higher than our fair-value estimate).
Our most-likely fair value is $42.47 a share — about 1.0% away from today's price of $42.88, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net cash $1.2B - more cash than debt. Interest coverage 22.4x.
Net debt
$-1.25B
Interest coverage
22.36x
Barrick Mining Corporation's profit covers its interest bill about 22.4 times over. which is weaker than most peers shown here.
Healthy
Worse cushion
Baseline
Better cushion
B
BASELINE
Barrick Mining Corporation
Total debt $4.68B Interest coverage 22.36x This is the baseline the peer rows are being compared against.
Total debt $5.60B Interest coverage 48.14x +115% vs B Carries about 2.2x more debt cushion than B.
Total debt $320.35M Interest coverage 189.22x +746% vs B Carries about 8.5x more debt cushion than B.
Total debt $1.98B Interest coverage 3,686.81x +16,388% vs B Carries about 164.9x more debt cushion than B.
Total debt $0.00 Interest coverage 4,336.33x +19,293% vs B Carries about 193.9x more debt cushion than B.
Total debt $395.89M Interest coverage 22.90x +2% vs B Has roughly the same debt cushion as B.
What you should know
The case for and against B
3 Rewards
0 Risks
Rewards
-
Revenue grew 34.3% last year.
-
Returns 27.0% on equity, ahead of 83% of its peers.
-
Free cash flow was positive in 4/10 years.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
11.08x
Forward P/E
9.78x
P/B
2.58x
P/S
3.42x
EV/EBITDA
6.11x
PEG ratio
2.04x
Profitability
How much profit each dollar creates
Gross margin
56.3%
Operating margin
51.3%
Net margin
31.6%
ROE
27.0%
ROA
13.4%
Health
Liquidity and balance-sheet strength
Debt / equity
0.13x
Current ratio
3.01x
Quick ratio
2.12x
Total debt
$4.68B
Total cash
$5.93B
Growth
How the business has been compounding
Revenue TTM
$32.69B
Revenue 5Y CAGR
22.0%
EPS TTM
3.87
EPS 5Y CAGR
130.3%
Cash flow
How much cash the business throws off
Operating CF TTM
$5.83B
Free CF TTM
$3.87B
FCF margin
11.8%
Dividend
Shareholder payout
Yield
1.6%
Payout ratio
23.8%
Last ex-div date
2026-08-31