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Global miner of gold and copper, with major mines in the Americas, Africa and the Middle East.
Global miner of gold and copper, with major mines in the Americas, Africa and the Middle East.
Earns by selling gold and copper at market prices, with most gold coming from Nevada Gold Mines, a joint venture it runs with Newmont. It dropped Gold from its name in 2025 as copper projects grew, and its Mali operations have been disrupted by a dispute with that country's government.
In one line: A gold/copper Freeport-McMoRan-Newmont hybrid..
Moat: narrow (scale, installed base). Owns Tier-1 scale gold assets (Nevada Gold Mines JV) and a growing copper project pipeline.
Headquarters: Toronto, Canada · Founded: 1983 · Employees: 27,000
Size Barrick Mining (ABX.TO) is a Canada Materials company (Precious Metals) with a market value of $67.2B, the 15th largest of 420 Canada companies the cockpit tracks. Shares closed at C$57.20 on 6 Nov 2026.
Performance Over six months the shares was unchanged, against -3.7% for the median peer and +5.2% for the Canada market (cap-weighted) — 8th highest of 16 in its peer set.
Growth Revenue grew 48.6% over the last twelve months (peer median +41.4%); the operating margin is 52.2% (peer median 54.0%).
Valuation It trades at 10.9× forward earnings against a peer median of 13.4× (5th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 9.4 points above its cost of capital (9.2% WACC).
Credit Barrick Mining has 7 bonds outstanding ($3.32B), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 104 bp.
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$28.6B | C$23.6B | C$17.7B | C$15.4B | C$14.4B |
| Revenue growth | — | +33% | +15% | +7% | — |
| Gross profit | C$15.2B | C$11.4B | C$6.06B | C$4.05B | C$4.06B |
| EBITDA | C$17.9B | C$13.8B | C$8.64B | C$6.64B | C$6.68B |
| Net income | C$9.03B | C$6.98B | C$2.94B | C$1.72B | C$562M |
| Free cash flow | C$7.81B | C$5.76B | C$2.08B | C$1.24B | C$1.69B |
| Capital expenditure | C$5.83B | C$5.34B | C$4.35B | C$4.17B | C$3.97B |
| Total debt | C$6.64B | C$6.45B | C$6.80B | C$6.23B | C$6.48B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Barrick Mining ABX.TO | $67.2B | 0% | +49% | 52% | 10.9× | -3.0% |
| Newmont NEM | $126B | +4% | +23% | 55% | 12.7× | -8.9% |
| Agnico Eagle Mines AEM.TO | $98.4B | +6% | +41% | 59% | 16.9× | 8.4% |
| Freeport-McMoRan FCX | $85.3B | -4% | 0% | 24% | 14.3× | 16.3% |
| Kinross Gold K.TO | $26.4B | -25% | +30% | 51% | 8.5× | -3.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ABX.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.4% | +2.4% | 8th highest of 16 |
| 6-month return | 0.0% | -3.7% | 8th highest of 16 |
| Distance from 52-week high | -22.7% | -27.3% | 7th highest of 16 |
| Revenue growth (TTM) | +48.6% | +41.4% | 7th highest of 16 |
| Operating margin | 52.2% | 54.0% | 7th lowest of 16 |
| Forward P/E | 10.9× | 13.4× | 5th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -3.0% | 6.4% | 7th least demanding of 15 |
| Growth delivered (Del g) | +7.0% | +17.6% | lowest of 15 |
| Hurdle (Req g minus delivered) | -10.0 pp | -21.9 pp | 4th most demanding of 15 |
| ROIC minus cost of capital | +9.4 pp | +16.1 pp | 6th lowest of 15 |
| EV / EBITDA | 5.9× | 8.7× | 4th cheapest of 14 |
| Net debt / EBITDA | -0.1× | -0.3× | 6th most indebted of 14 |
| Bond spread | 104 bp | 133 bp | 2nd tightest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Barrick Mining ABX.TO | Canada | $67.2B | 0% | +49% | 52% | 10.9× | -3.0% | +7.0% |
| Wheaton Precious Metals WPM.TO | Canada | $62.3B | +7% | +89% | 73% | 29.9× | n/a | n/a |
| Franco-Nevada FNV.TO | Canada | $49.6B | +16% | +72% | 75% | 31.5× | 17.7% | +13.3% |
| Anglogold Ashanti AU | United States | $47.0B | -13% | +139% | 51% | 11.7× | -7.7% | +17.4% |
| Zijin Gold International 2259.HK | Hong Kong | $46.6B | -19% | +106% | 54% | 15.7× | 17.3% | +43.4% |
| Agnico Eagle Mines AEM.TO | Canada | $98.4B | +6% | +41% | 59% | 16.9× | 8.4% | +31.6% |
| Zijin Mining 601899.SS | China | $109B | -15% | +16% | 30% | 9.6× | -10.2% | +15.3% |
| Newmont NEM | United States | $126B | +4% | +23% | 55% | 12.7× | -8.9% | +14.1% |
| Gold Fields Limited Sponsored ADR GFI | United States | $31.5B | -13% | +71% | 53% | 9.2× | -14.1% | +17.7% |
| Kinross Gold K.TO | Canada | $26.4B | -25% | +30% | 51% | 8.5× | -3.9% | +11.8% |
| Northern Star Resources NST.AX | Australia | $25.3B | +19% | +19% | 35% | 17.8× | 17.5% | +22.5% |
| Fresnillo FRES.L | United Kingdom | $24.9B | -31% | +48% | 59% | 11.8× | -8.2% | +12.6% |
| Royal Gold RGLD | United States | $22.5B | +11% | +94% | 63% | 20.9× | 10.9% | +15.6% |
| Evolution Mining EVN.AX | Australia | $18.3B | -4% | +28% | 42% | 13.4× | 10.8% | +24.4% |
| Pan American Silver PAAS.TO | Canada | $17.2B | -26% | +37% | 39% | 9.5× | 4.4% | +23.0% |
| Lundin Gold LUG.TO | Canada | $17.0B | +7% | +36% | 65% | 16.0× | 9.9% | +39.0% |
Barrick Mining has 7 bonds outstanding with $3.32B face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 6.05%, a spread of 104 bp over government bonds.