olivLaw · US equity research
Barrick Mining Corp B
Gold and Silver Ores · SIC 1040 · Vertical: Gold and Silver Ores (SIC 1040)
At the close of 04 Nov 2026, Barrick Mining Corp (B) stock was 40.13 USD (+8.31% on the day), with market capitalisation 67.2 bn USD, P/E 13.7 on diluted EPS of 2.93 USD over the last 12 months, dividend yield 1.32%, beta 0.89, 52-week range 32.55–52.98 USD.
Data as of · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 51.5
- neutral
- Bollinger (20, 2)
- 36.93 – 41.98
- in the upper half of the band · %B 0.63 · band width 12.8%
- SMA 50 / 200
- 41.59 / 41.97
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.83 / -0.85
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +0.3% | −1.1% | +1.4 pp | — |
| 3 months | −2.2% | −0.5% | −1.8 pp | — |
| 6 months | −3.5% | +4.4% | −7.9 pp | — |
| Year to date | −7.9% | +12.3% | −20.2 pp | — |
| 1 year | +26.7% | +13.5% | +13.2 pp | −9.2% |
| 3 years | +143.5% | +76.4% | +67.1 pp | +150.5% |
| 5 years | +104.7% | +63.7% | +41.1 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 33 percentile of its own 9-quarter history (min 8.2, median 16.7, max 71.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.2 bn | 9.7 bn | 12.6 bn | 12.0 bn | 11.0 bn | 11.4 bn | 12.9 bn | 17.0 bn |
| Revenue YoY | −13.5% | +34.2% | +29.6% | −4.8% | −8.1% | +3.5% | +13.4% | +31.2% |
| Net income | -1.5 bn | 4.0 bn | 2.3 bn | 2.0 bn | 432.0 m | 1.3 bn | 2.1 bn | 5.0 bn |
| Net income YoY | −207.4% | unavailable | −41.4% | −13.0% | −78.6% | +194.4% | +68.6% | +132.9% |
| Diluted EPS | -1.32 | 2.26 | 1.31 | 1.14 | 0.24 | 0.72 | 1.22 | 2.93 |
| Diluted EPS YoY | −207.3% | unavailable | −42.0% | −13.0% | −78.9% | +200.0% | +69.4% | +140.2% |
| net % | -21.3% | 40.8% | 18.5% | 16.9% | 3.9% | 11.2% | 16.6% | 29.4% |
| Free cash flow | 365.0 m | 1.1 bn | 3.4 bn | 1.9 bn | 432.0 m | 646.0 m | 1.3 bn | 3.9 bn |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 6.7 bn USD
- Financial debt
- 4.6 bn USD
- Net debt
- -2.1 bn USD
- Equity
- 35.9 bn USD
- Total assets
- 51.6 bn USD
- Debt / equity
- 0.13x
- Current ratio
- 2.92x
- ROE
- 14.4%
- ROA
- 10.1%
- FCF margin
- 22.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 12.6 bn | 12.0 bn | 11.0 bn | 11.4 bn | 12.9 bn | 17.0 bn | SEC (XBRL)· 27 Feb 2026verified |
| Cost of revenue | 7.4 bn | 7.1 bn | 7.5 bn | 7.9 bn | 8.0 bn | 8.3 bn | SEC (XBRL)· 27 Feb 2026verified |
| Gross profit | 5.2 bn ≈ | 4.9 bn ≈ | 3.5 bn ≈ | 3.5 bn ≈ | 5.0 bn ≈ | 8.7 bn ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Pre-tax income | 4.9 bn | 4.6 bn | 1.7 bn | 2.8 bn | 4.6 bn | 8.8 bn | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | 1.3 bn | 1.3 bn | 664.0 m | 861.0 m | 1.5 bn | 1.7 bn | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 2.3 bn | 2.0 bn | 432.0 m | 1.3 bn | 2.1 bn | 5.0 bn | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 1.31 | 1.14 | 0.24 | 0.72 | 1.22 | 2.93 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | 1.8 bn | 1.8 bn | 1.8 bn | 1.8 bn | 1.8 bn | 1.7 bn | SEC (XBRL)· 27 Feb 2026verified |
| Dividend per share | 0.31 | 0.36 | 0.65 | 0.40 | 0.40 | 0.53 | SEC (XBRL)· 27 Feb 2026derived |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 5.2 bn | 5.3 bn | 4.4 bn | 4.1 bn | 4.1 bn | 6.7 bn | SEC (XBRL)· 27 Feb 2026verified |
| Receivables | 558.0 m | 623.0 m | 554.0 m | 693.0 m | 763.0 m | 791.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Inventories | 1.9 bn | 1.7 bn | 1.8 bn | 1.8 bn | 1.9 bn | 2.1 bn | SEC (XBRL)· 27 Feb 2026verified |
| Current assets | 8.1 bn | 8.2 bn | 8.5 bn | 7.4 bn | 7.6 bn | 10.2 bn | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 24.6 bn | 25.0 bn | 25.8 bn | 26.4 bn | 28.6 bn | 29.4 bn | SEC (XBRL)· 27 Feb 2026verified |
| Goodwill | 4.8 bn | 4.8 bn | 3.6 bn | 3.6 bn | 3.1 bn | 3.0 bn | SEC (XBRL)· 27 Feb 2026verified |
| Intangibles (excl. goodwill) | 169.0 m | 150.0 m | 149.0 m | 149.0 m | 148.0 m | 148.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 46.5 bn | 46.9 bn | 46.0 bn | 45.8 bn | 47.6 bn | 51.6 bn | SEC (XBRL)· 27 Feb 2026verified |
| Accounts payable | 1.5 bn | 1.4 bn | 1.6 bn | 1.5 bn | 1.6 bn | 1.9 bn | SEC (XBRL)· 27 Feb 2026verified |
| Long-term debt | 5.1 bn | 5.1 bn | 4.8 bn | 4.7 bn | 4.7 bn | 4.6 bn | SEC (XBRL)· 27 Feb 2026verified |
| Current liabilities | 2.2 bn | 2.1 bn | 3.1 bn | 2.4 bn | 2.6 bn | 3.5 bn | SEC (XBRL)· 27 Feb 2026verified |
| Total liabilities | 14.8 bn | 14.6 bn | 14.7 bn | 13.8 bn | 14.4 bn | 15.7 bn | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 31.7 bn | 32.3 bn | 31.3 bn | 32.0 bn | 33.3 bn | 35.9 bn | SEC (XBRL)· 27 Feb 2026verified |
| Shares outstanding at year end | 1.8 bn | 1.8 bn | 1.8 bn | 1.8 bn | 1.7 bn | 1.7 bn | SEC (XBRL)· 27 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 5.4 bn | 4.4 bn | 3.5 bn | 3.7 bn | 4.5 bn | 7.7 bn | SEC (XBRL)· 27 Feb 2026verified |
| Capex | 2.1 bn | 2.4 bn | 3.0 bn | 3.1 bn | 3.2 bn | 3.8 bn | SEC (XBRL)· 27 Feb 2026verified |
| Free cash flow | 3.4 bn ≈ | 1.9 bn ≈ | 432.0 m ≈ | 646.0 m ≈ | 1.3 bn ≈ | 3.9 bn ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Investing cash flow | -1.3 bn | -1.9 bn | -1.7 bn | -2.8 bn | -2.8 bn | -1.2 bn | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | -2.3 bn | -2.4 bn | -2.6 bn | -1.2 bn | -1.8 bn | -3.8 bn | SEC (XBRL)· 27 Feb 2026verified |
| Dividends paid | 547.0 m | 634.0 m | 1.1 bn | 700.0 m | 696.0 m | 890.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | — | 0 | 424.0 m | 0 | 498.0 m | 1.5 bn | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 81 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 67.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet100
- Valuation75
- Quality66
- Growth100
- Returns70
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 40.24 – 84.55 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E40.24 – 84.55 (Mid 47.49)17 companies used · median multiple 16.2x · quartiles 13.7x – 28.9xAEM, AGI, ARIS, AU, CDE, EGO, FNV, GFI, IDR, KGC, MUX, NAMM, NEM, PAAS, TII, VOXR, WPM
- Dividend discount (DDM)outside the aggregate6.98 – 9.39 (Mid 8.01)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 81/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 29.4% | 64 (vs peers) | 10% |
| FCF conversion · Quality | 77.5% | 68 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 15.5% | 100 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | 130.3% | 100 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.9x | 100 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 13.7x | 78 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 5.8% | 72 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 3.6% | 51 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 23.0% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality66/100 · 2/3 factors with a value
- Returns70/100 · 2/2 factors with a value
- Valuation75/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
BARRICK MINING CORP (B). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 17.0 bn USD in 2025; YoY growth 31.2%; net margin 29.4%; ROE 19.6%.
The estimated value range is 40.24–84.55 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 47.49 USD, the price of 40.13 USD leaves a potential of 18.3% (value / price − 1) and a margin of safety of 15.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 81/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 15.5%
- EPS CAGR 3Y: 130.3%
- Current ratio: 2.9x
- P/E (TTM): 13.7x
- FCF yield: 5.8%
- Payout ratio (FCF): 23.0%
- The price is below the estimated value range
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Gold and Silver Ores (SIC 1040) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NEMNewmont Corporation | 122.7 bn | 13.7 | 26.8% | 34.7% | +21.3% | +30% / +194% |
| AEMAgnico Eagle Mines Limited | 91.7 bn | 20.7 | 19.6% | 37.5% | +43.7% | +5% / +242% |
| BBarrick Mining Corp | 67.2 bn | 13.7 | 19.6% | 29.4% | +31.2% | +27% / +144% |
| WPMWheaton Precious Metals Corp. | 59.7 bn | 40.6 | 18.5% | 63.6% | +80.2% | +19% / +169% |
| FNVFRANCO NEVADA Corp | 46.7 bn | 42.0 | 16.3% | 61.0% | +63.7% | +15% / +116% |
| AUAngloGold Ashanti plc | 44.4 bn | 17.0 | 43.1% | 32.1% | +70.8% | +3% / +357% |
| GFIGold Fields Limited | 32.9 bn | 26.6 | 25.7% | 23.9% | +15.6% | −14% / +140% |
| KGCKinross Gold Corp | 25.7 bn | 11.0 | 31.0% | 33.9% | +36.9% | −24% / +264% |
| PAASPan American Silver Corp. | 17.5 bn | 16.2 | 16.8% | 27.1% | +28.4% | −9% / +165% |
| CDECoeur Mining, Inc. | 14.9 bn | 16.0 | 10.3% | 19.2% | +96.4% | −16% / +378% |
| AGIAlamos Gold Inc. | 12.6 bn | 14.3 | 22.1% | 49.0% | +34.3% | −20% / +103% |
| HMYHarmony Gold Mining Company Limited | 10.4 bn | — | — | — | +25.8% | −17% / +163% |
| EGOEldorado Gold Corp | 6.7 bn | 13.6 | 12.4% | 27.9% | +37.5% | +7% / +155% |
| CGAUCenterra Gold Inc. | 4.3 bn | — | -4.7% | -7.4% | +28.8% | +61% / +249% |
| ARISAris Mining Corp | 3.2 bn | 38.3 | 7.0% | 8.4% | +81.7% | +12% / +396% |
| NGNovagold Resources Inc. | 2.7 bn | — | -32.8% | — | unavailable | −40% / +45% |
| AAUCAllied Gold Corporation | 2.5 bn | — | -13.8% | -3.9% | +82.3% | −3% / unavailable |
| EXKEndeavour Silver Corp. | 2.1 bn | — | -22.4% | -25.5% | +114.8% | −21% / +259% |
| HYMCHycroft Mining Holding Corporation | 1.6 bn | — | -72.3% | — | −100.0% | +49% / +716% |
| IAUXi-80 GOLD CORP. | 1.2 bn | — | -81.9% | -202.7% | +89.1% | +18% / −15% |
| MUXMcEWEN INC. | 916.1 m | 12.8 | 13.5% | 32.5% | +13.2% | −20% / +94% |
| MTAMetalla Royalty & Streaming Ltd. | 732.0 m | — | -1.7% | -36.1% | +99.6% | +6% / +145% |
| GROYGold Royalty Corp. | 648.9 m | — | -0.7% | -26.5% | +54.5% | −34% / +86% |
| ITRGIntegra Resources Corp. | 398.7 m | — | -1.4% | -0.9% | +703.7% | −37% / +157% |
| VOXRVox Royalty Corp. | 335.7 m | 49.1 | 7.8% | 48.9% | +9.0% | +3% / +132% |
1- and 3-year price returns: for B from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 26.67 Total return -32% · Per year -32% | 46.94 Total return 19% · Per year 19% | 70.41 Total return 77% · Per year 77% |
| 3 years | 31.64 Total return -17% · Per year -6% | 62.08 Total return 60% · Per year 17% | 101.39 Total return 159% · Per year 37% |
| 5 years | 37.53 Total return 1% · Per year 0% | 82.10 Total return 115% · Per year 17% | 146.01 Total return 278% · Per year 30% |
- Exit P/E± 15.52
- Net margin± 10.86
- Annual revenue growth± 8.10
- Annual dilution± 0.91
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Barrick Mining Reaches Deal With Mali Unions, Averting StrikesBloomberg Markets · 27 Sept 2026 · EN
- Barrick Mining (B) Has an IPO Catalyst. Newmont Corporation (NEM) Has the Cash. Which Gold Stock Wins?Yahoo Finance — News · 28 Aug 2026 · EN
SEC filings
- Current report (foreign issuer)17 Aug 2026
- Current report (foreign issuer)11 Aug 2026
- Current report (foreign issuer)11 May 2026
- Current report (foreign issuer)08 Apr 2026
- Current report (foreign issuer)27 Feb 2026
- Current report (foreign issuer)27 Feb 2026
- Current report (foreign issuer)27 Feb 2026
- Current report (foreign issuer)05 Feb 2026
- Current report (foreign issuer)10 Nov 2025
- Current report (foreign issuer)10 Nov 2025
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.