One-glance verdict
Undervalued
$57.05 our estimate vs market $42.27
Wall Street consensus: $50.11 (-12.2% lower than our fair-value estimate)
26% below our estimate, below the bear case
Fundamentals snapshot
Barrick Mining Corporation
B · NYQ · Basic Materials · Gold
Current price
$42.27
52-week range
$34.03 - $54.69
Market cap
$69.57B
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 66% of its peers.
- Reward Free cash flow was positive in 4/10 years.
What this company does
Barrick Mining Corporation
Barrick Mining Corporation digs up and sells precious metals like gold and copper, as well as other materials. The main money maker is gold, and how much they can dig up and sell affects their profits directly, which is important for anyone who owns a piece of the company.
How the company got here
Barrick Mining Corporation, originally founded as Barrick Resources in 1983, has a history of significant growth through strategic acquisitions. Initially focused on oil and gas, the company pivoted to gold mining under founder Peter Munk. Key acquisitions like Homestake Mining in 2001 and Placer Dome in 2006 dramatically increased its scale and asset base. A major turning point was the 2019 merger with Randgold Resources, which brought a renewed focus on value, asset quality, and operational efficiency. In May 2025, the company officially changed its name from Barrick Gold Corporation to Barrick Mining Corporation to reflect its expanding portfolio beyond just gold, particularly its growing copper interests.
What it actually does
Barrick Mining Corporation is a global company that explores for, develops, and produces gold and copper. Think of them as digging deep into the earth to find valuable metals. These metals are then processed and sold, primarily as gold bullion and copper concentrate. These raw materials are essential for many industries, including jewelry, electronics, and construction. Barrick operates mines and projects in numerous countries across five continents, making it a significant player in the global supply chain for these precious and base metals.
Gold
Gold is Barrick's primary product, forming the core of its business. The company operates large, long-life gold mines in various parts of the world, including significant operations in the United States (Nevada Gold Mines), the Dominican Republic (Pueblo Viejo), Mali (Loulo-Gounkoto), and the Democratic Republic of Congo (Kibali). These gold operations are the main engine for the company's revenue and cash flow, meaning they generate most of the money Barrick makes. The company aims to be the world's most valued gold producer by focusing on high-quality assets that can generate strong returns over the long term.
Copper
Copper is an increasingly important part of Barrick's business, representing a strategic diversification beyond gold. The company is actively developing and expanding its copper operations, with key projects like Lumwana in Zambia and Reko Diq in Pakistan. These copper assets are crucial for Barrick's long-term growth strategy, as copper is a vital metal for the global energy transition, used in everything from electric vehicles to renewable energy infrastructure. By growing its copper business, Barrick aims to diversify its revenue streams and create a more balanced portfolio.
What management is betting on now
Barrick's current strategy focuses on being the world's most valued gold and copper mining business, prioritizing quality assets and sustainable returns over sheer production volume. A key priority is expanding its copper portfolio to balance its gold-centric business and capitalize on the growing demand for copper in areas like electrification. The company is also focused on optimizing its existing gold assets, such as through mine-life extensions and exploring new discoveries. Barrick emphasizes building strong partnerships with host countries and communities, aiming for responsible mining practices and long-term mutual prosperity.
Price history
How the share price has moved
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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 $57.05 vs current price $42.27
Wall Street consensus is the average analyst price target: $50.11 (-12.2% lower than our fair-value estimate).
Our most-likely fair value is $57.05 a share — about 35.0% above today's price of $42.27, so the stock currently looks cheap (undervalued).
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 $5.58B Interest coverage 48.14x +115% vs B Carries about 2.2x more debt cushion than B.
Total debt $328.08M Interest coverage 189.22x +746% vs B Carries about 8.5x more debt cushion than B.
Total debt $1.60B 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 $146.15M 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 66% 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)
10.81x
Forward P/E
10.14x
P/B
2.55x
P/S
3.37x
EV/EBITDA
6.04x
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
3.91
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
1.7%
Payout ratio
23.8%
Last ex-div date
2026-08-31