Why Barrick (TSX:ABX) Is Up 7.5% After Surging Gold Prices and Strong Q2 Earnings

• In August 2025, Barrick Mining reported strong second-quarter results, including a 47% rise in adjusted net earnings per share and operational improvements, as gold prices reached new record highs above US$3,500 an ounce.
• An expansion into copper, highlighted by the Reko Diq project, positions the company to capture rising demand driven by global renewable energy development.
• We’ll examine how Barrick’s copper production expansion further strengthens its outlook for long-term earnings and diversification.

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Barrick Mining Investment Narrative Recap

Investors who see value in Barrick Mining typically believe in the strength of precious metals and copper markets, as well as the company’s ability to balance operational growth with geopolitical and regulatory risks. The recent surge in Barrick’s share price reflects exceptionally strong second-quarter earnings and higher gold prices, but does not remove the continuing risk tied to its exposure in regions facing political and economic uncertainty. In the short term, further sharp moves may hinge on gold price stability, while persistent regional instability remains a key uncertainty.

The company’s confirmation of 2025 gold and copper production guidance, coupled with recent quarterly results, stands out as particularly relevant news for investors focused on Barrick’s production outlook. Confirmed guidance and robust earnings reinforce confidence in upcoming project milestones, like the Reko Diq copper expansion, which supports diversification and earnings potential. However, this positive momentum may still be tested by challenges in certain operating regions.

But as strong as Barrick’s position appears today, investors need to keep in mind the unresolved operational and legal risks associated with assets in...

Read the full narrative on Barrick Mining (it's free!)

Barrick Mining's narrative projects $19.4 billion revenue and $5.0 billion earnings by 2028. This requires 11.9% yearly revenue growth and a $2.2 billion earnings increase from $2.8 billion today.

Uncover how Barrick Mining's forecasts yield a CA$37.98 fair value, a 4% downside to its current price.

Exploring Other Perspectives

Eleven members of the Simply Wall St Community estimate Barrick’s fair value between CA$27 and CA$48.98 per share. With many analysts citing ongoing instability in key operating regions as a risk, you can see how expectations for earnings and valuation sometimes diverge significantly.

Explore 11 other fair value estimates on Barrick Mining - why the stock might be worth 31% less than the current price!

Build Your Own Barrick Mining Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Barrick Mining research is our analysis highlighting 4 key rewards that could impact your investment decision.
• Our free Barrick Mining research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Barrick Mining's overall financial health at a glance.

No Opportunity In Barrick Mining?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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