It has been about a month since the last earnings report for Barrick Mining (B). Shares have added about 24.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Barrick Mining due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Barrick Mining’s Q2 Earnings Meet Estimates, Sales Up on Higher Prices
Barrick Mining recorded profits (on a reported basis) of $811 million or 47 cents per share for second-quarter 2025, up from $370 million or 21 cents per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 47 cents. The figure was in line with the Zacks Consensus Estimate.
Barrick recorded total sales of $3,681 million, up 16.4% year over year.
Operational Highlights
Total gold production was 797,000 ounces in the reported quarter, down around 15.9% year over year. The average realized price of gold was $3,295 per ounce in the quarter, up around 40.6% year over year.
The cost of sales increased around 14.8% year over year to $1,654 per ounce. All-in-sustaining costs (AISC) moved up 12.4% to $1,684 per ounce in the quarter.
Financial Position
At the end of the quarter, Barrick had cash and cash equivalents of $4,802 million, up 19% year over year. The company’s total debt was $4,729 million at the end of the quarter, flat year over year.
The operating cash flow was $1,329 million for the quarter, whereas the free cash flow was $395 million.
Guidance
For 2025, Barrick continues to anticipate attributable gold production to be in the range of 3.15-3.5 million ounces.
AISC is projected to be $1,460-$1,560 per ounce for 2025. Cash costs per ounce are forecast to be $1,050-$1,130. The company also expects to see a cost of sales of $1,460-$1,560 per ounce.
Barrick expects a copper production of 200,000-230,000 tons at AISC of $2.80-$3.10 per pound, cash costs per ounce of $1.80-$2.10 and cost of sales of $2.50-$2.80 per pound.
Total attributable capital expenditures are projected in the range of $3,100-$3,600 million for 2025.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in estimates review.
The consensus estimate has shifted 5.93% due to these changes.
VGM Scores
At this time, Barrick Mining has a nice Growth Score of B, a grade with the same score on the momentum front. Following the exact same course, the stock has a grade of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Interestingly, Barrick Mining has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Barrick Mining belongs to the Zacks Mining - Gold industry. Another stock from the same industry, Kinross Gold (KGC), has gained 15.7% over the past month. More than a month has passed since the company reported results for the quarter ended June 2025.
Kinross Gold reported revenues of $1.73 billion in the last reported quarter, representing a year-over-year change of +41.7%. EPS of $0.44 for the same period compares with $0.14 a year ago.
For the current quarter, Kinross Gold is expected to post earnings of $0.32 per share, indicating a change of +33.3% from the year-ago quarter. The Zacks Consensus Estimate has changed +7.3% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Kinross Gold. Also, the stock has a VGM Score of A.
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Barrick Mining Corporation (B): Free Stock Analysis Report Kinross Gold Corporation (KGC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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