B Stock Forecast & Price Target

Barrick Mining's production in 2024 reached approximately 3.9 million attributable ounces of gold and about 195,000 metric tons of copper, positioning the company favorably within the mining sector. The firm possesses around two decades of gold reserves and significant copper reserves, underscoring its strong resource base and long-term sustainability. Additionally, the development of the Fourmile project, benefiting from low capital intensity and optimistic projections for production and costs, is expected to enhance Barrick's operational efficiency and growth potential in the coming years.

Barrick Mining faces a negative outlook primarily due to elevated EBITDA multiples resulting from a lack of near-term production from significant projects, including Fourmile and Reko Diq, which could hinder future revenue generation. The company's shares trade at a slight discount to their worst-case breakup value, with non-Nevada assets reflecting an implied valuation of less than 0.4 times net asset value, suggesting limited growth potential. Additionally, the company's operations are subject to heightened geopolitical risks and terrorist activities in certain regions, which pose threats to employee and community safety and could further disrupt operational stability.