Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 8 May, 26 | B | Buy | USD 43.07 | USD 45.3 | USD 47.5 | 2 days | Closed |
11.47%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Barrick Mining Corporation engages in the exploration, development, production, and sale of mineral properties. It explores for gold, copper, silver, and energy materials. The company was formerly known as Barrick Gold Corporation and changed its name to Barrick Mining Corporation in May 2025. Barrick Mining Corporation was founded in 1983 and is based in Toronto, Canada.
Increase in Net Earnings: USD 1.60 Bn in Q1FY26 vs USD 474 Mn in Q1FY25
Rise in Operating Cash Flow: USD 2.55 Bn in Q1FY26 vs USD 1.21 Bn in Q1FY25
Decline in Total Gold Production: 719 Koz in Q1FY26 vs 758 Koz in Q1FY25
Rise in Gold Total Cash Costs: USD 1,327/oz in Q1FY26 vs USD 1,220/oz in Q1FY25
Key Investment Risk: Barrick remains exposed to commodity price volatility, geopolitical and regulatory risks across mining jurisdictions, project execution challenges, inflationary operating pressures, and potential delays related to the planned North American IPO and major development projects
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 43.07 | 39.0 | 45.3 | 47.5 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Strong Production Performance and Operational Delivery: Barrick Mining Corporation delivered a strong operational performance during Q1FY26, supported by improved mining efficiencies and higher processing throughput across key assets. Gold production reached 719 thousand ounces, exceeding the company’s guidance range, while copper production rose to 49 thousand tonnes. Strong underground mining activity at Nevada Gold Mines, higher grades at Veladero, and the ramp-up at Loulo-Gounkoto contributed significantly to quarterly output growth and reinforced operational execution across the portfolio.
Higher Gold Prices Boost Earnings and Cash Flow: Barrick benefited materially from a stronger gold pricing environment during Q1FY26, with realized gold prices increasing sharply year-over-year. The higher realized pricing environment, combined with disciplined cost control and improved production, significantly enhanced profitability metrics. Net earnings increased to USD 1.60 billion, while adjusted net earnings rose substantially compared to the prior-year quarter. The company also generated robust operating cash flow and free cash flow, reflecting strong underlying operational leverage.
Disciplined Cost Management Supports Margins: Despite inflationary pressures and higher royalty expenses, Barrick maintained disciplined cost management during the quarter. Gold all-in sustaining costs declined year-over-year, supported by operational efficiencies and improved mining productivity. The company continued focusing on optimizing mining plans, processing throughput, and operational reliability, enabling Barrick to maintain healthy EBITDA margins while navigating a higher-cost operating environment across several mining jurisdictions.
Growth Pipeline Continues to Advance: Barrick continued advancing its long-term growth projects during Q1FY26, particularly the Lumwana Super Pit Expansion and the Fourmile project. Construction activities at Lumwana progressed slightly ahead of schedule, with first copper production targeted by the end of Q1FY28. Meanwhile, drilling activities at Fourmile continued to demonstrate strong resource upside potential, supporting the possibility of the project evolving into a standalone Tier One Gold Asset with significant reserve growth potential.
North American IPO Progressing as Planned: The company continued progressing toward the planned IPO of North American Barrick, which is expected to unlock additional shareholder value. The proposed structure will include Barrick’s interests in Nevada Gold Mines, Pueblo Viejo, and the Fourmile project. Barrick indicated that the IPO remains on track for completion by the end of 2026, subject to market conditions and regulatory approvals, while also strengthening management accountability and operational focus across the North American business.
Strong Balance Sheet and Shareholder Returns: Barrick maintained a strong financial position during the quarter, supported by net cash generation and robust liquidity. The company reported net cash of approximately USD 2.4 billion alongside an undrawn USD 3 billion revolving credit facility. Supported by strong free cash flow generation, Barrick announced a new USD 3 billion share repurchase program and maintained its quarterly dividend, reflecting confidence in future cash generation and commitment to shareholder returns.
Positive Outlook Supported by Production Growth: Barrick reaffirmed its FY26 production and cost guidance, expecting production growth to accelerate sequentially through the year, with Q4 anticipated to be the strongest production quarter. Management expects gold production between 2.90 million and 3.25 million ounces and copper production between 190 thousand and 220 thousand tonnes during FY26. The company also expects continued contribution from operational improvements, project execution, and higher production from key mining assets.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to Barrick Mining Corporation (NYSE: B) at the current market price of USD 43.07, as on 08 May,2026 at 12:57 PM PDT
Data Powered by EOD Historical Data (“EODHD”).
Sector: Basic Materials Industry: Gold
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| B Barrick Mining Corporation |
1.01 2.89% | 35.90 | 14.66 | 11.20 | 4.26 | 2.71 | 4.14 | 6.35 |
| AEM Agnico Eagle Mines Limited |
2.88 2.11% | 139.22 | 22.95 | 16.00 | 8.59 | 4.38 | 8.85 | 12.58 |
| AU AngloGold Ashanti plc |
2.58 3.45% | 77.46 | 20.56 | 12.69 | 5.44 | 6.65 | 5.37 | 9.20 |
| NEM Newmont Goldcorp Corp |
2.88 3.23% | 92.08 | - | 11.61 | 4.29 | 2.48 | 4.55 | 26.44 |
| FNV Franco-Nevada Corporation |
6.83 3.41% | 207.00 | 44.84 | 30.58 | 26.45 | 6.52 | 26.79 | 28.34 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on May 8, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
Disclaimer :
This report has been issued by StockNextt which has an Ontario Business Identification Number 1000958347 and British Columbia registration Number FM1051529 is a trade name under Kalkine Canada Advisory Services Inc. having Business Number 761925130BC0001. Kalkine Canada Advisory Services Inc. and StockNextt are collectively referred to as “StockNextt”, “we”, “us”, and “our”. The website https://stocknextt.com and associated pages are published by StockNextt. The information in this report and on the StockNextt website has been prepared from a wide variety of sources, which StockNextt, to the best of its knowledge and belief, considers accurate. StcokNextt has made every effort to ensure the reliability of information contained in its reports, newsletters, and websites. All information represents our views at the date of publication and may change without notice. The information in this report does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products. Our reports contain general recommendations for investing in securities and other financial products. StockNextt does not offer financial advice based upon your personal financial situation or goals, and we shall not be held liable for any investment or trading losses you may incur by using the opinions expressed in our reports, publications, market updates, news alerts and corporate profiles. StockNextt does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation. StockNextt’s general advice does not in any way endorse or recommend individuals, investment products or services for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a professional authorised financial planner and adviser. You should be aware that the value of any investment and the income from it can go down as well as up and you may not get back the amount invested. Please also read our Terms and conditions for further information. Employees and/or associates of StockNextt and its related entities may hold an interest in the securities or other financial products covered in this report or on the StockNextt website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.
Copyright © 2026 Krish Capital Pty Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.
Australia