B Stock Forecast & Price Target

Barrick Mining's favorable outlook is supported by its production of nearly 3.9 million attributable ounces of gold and approximately 195,000 metric tons of copper in 2024, alongside a robust reserve base that extends over two decades for gold and significant copper reserves. The company's strategic initiatives, such as the development of the Fourmile project leveraging existing infrastructure, are expected to result in improved production and cost efficiencies, driving stable output from its Nevada Gold Mines complex for an estimated 10 years. Furthermore, the positive momentum from Fourmile and other growth projects may provide additional upside potential, contributing to Barrick’s valuation growth in the future.

Barrick Mining's stock outlook appears negatively impacted by high EBITDA multiples, driven by the lack of near-term production from projects such as Fourmile and Reko Diq, which raises concerns about immediate revenue generation. Additionally, the company's shares trade at a slight discount to their worst-case breakup value, with non-Nevada and non-PV assets trading at an implied value of less than 0.4 times net asset value, indicating potential undervaluation issues. Furthermore, the company's operations are situated in regions with heightened geopolitical risks and security concerns, which could affect employee safety and operational stability.