Should You Buy, Sell or Hold Barrick Mining Ahead of Q4 Earnings?

Barrick Mining Corporation B is slated to come up with fourth-quarter 2025 results before the opening bell on Feb. 5. The company’s performance is expected to reflect higher gold prices amid cost and production headwinds.The Zacks Consensus Estimate for fourth-quarter earnings has been going up in the past 60 days. The consensus estimate for earnings is pegged at 87 cents per share, suggesting an 89.1% year-over-year rise.  Image Source: Zacks Investment ResearchB beat the Zacks Consensus Estimate for earnings in three of the last four quarters and reported in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of roughly 8.7%, on average. Image Source: Zacks Investment ResearchQ4 Earnings Whispers for B StockOur proven model does not conclusively predict an earnings beat for B this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Barrick has an Earnings ESP of -1.34% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.Factors Shaping B’s Q4 ResultsHigher gold prices are likely to have supported the company’s performance in the fourth quarter. Gold prices surged to record highs last year as global trade tensions lifted demand for safe-haven assets. Prices hit new highs driven by a surge in safe-haven demand amid the intense trade tussle, global economic uncertainties, strong central-bank buying and a weaker U.S. dollar. Heightened geopolitical tensions, including the deadly unrest in Iran with the possibility of U.S. intervention, a weaker greenback, fresh tariff threats, and renewed concerns over the independence of the Federal Reserve, drove bullion to record levels recently, with prices rocketing to a fresh high of nearly $5,600 per ounce last week. While gold prices have fallen lately, partly due to aggressive profit-taking and a rebound in the U.S. dollar, they remain elevated. Prices of the yellow metal closed nearly 13% higher in the fourth quarter and surged roughly 65% in 2025. Weaker year-over-year production is expected to have impacted B’s sales volumes in the fourth quarter. Barrick saw a 12% year-over-year decline in third-quarter 2025 gold production to 829,000 ounces. Lower year-over-year production, mainly due to the suspension of operations at the Loulo-Gounkoto mine, also contributed to the year-over-year rise in its unit costs. Lower production also negatively impacted gold sales volumes, which fell roughly 13% year over year.  Divestments of Hemlo and Tongon are anticipated to have negatively impacted production for the full year. A portion of the output from these assets for the fourth quarter is projected to be excluded from the consolidated output.   The consensus estimate calls for a gold production of roughly 889,000 ounces in the fourth quarter, indicating a roughly 18% year-over-year decline.  Higher year-over-year production costs are likely to have weighed on the company’s fourth-quarter results. Its cash costs per ounce of gold and all-in-sustaining costs (AISC) increased around 3% and 2% year over year, respectively, in the third quarter, although declining from the previous quarter. AISC of $1,538 increased from the year-ago quarter due to higher total cash costs per ounce and lower production. Cost pressures are likely to have continued in the fourth quarter.For 2025, Barrick continues to see total cash costs per ounce of $1,050-$1,130 and AISC in the range of $1,460-$1,560 per ounce. These projections suggest a year-over-year increase at the midpoint of the respective ranges.  The consensus estimate for AISC for the fourth quarter is pegged at $1,555, indicating a roughly 7% year-over-year rise.  Barrick Stock’s Price Performance and ValuationB’s shares have shot up 176.5% over the past year, outperforming the Zacks Mining – Gold industry’s 127.3% increase and the S&P 500’s rise of 18.1%. Among its peers, Newmont Corporation NEM, Kinross Gold Corporation KGC and Agnico Eagle Mines Limited AEM have rallied 160.6%, 175.7% and 100.9%, respectively, over the same period.B’s One-year Stock Price Performance Image Source: Zacks Investment ResearchFrom a valuation standpoint, B is currently trading at a forward 12-month earnings multiple of 13.56. This represents a roughly 6% discount when stacked up with the industry average of 14.43X. B is trading at a discount to Newmont and Agnico Eagle and at a premium to Kinross Gold. Barrick and Kinross Gold have a Value Score of B, each, while Agnico Eagle and Newmont have a Value Score of C.  B’s P/E F12M Vs. Industry, NEM, KGC & AEM Image Source: Zacks Investment ResearchInvestment Thesis for B StockBarrick is well-positioned to benefit from the progress in key growth projects that should significantly contribute to its production. Its major gold and copper growth projects are advancing per schedule and within budget, which underpins the next generation of profitable production. B has a robust liquidity position and generates healthy cash flows, which positions it well to take advantage of attractive development, exploration and acquisition opportunities, as well as drive shareholder value and reduce debt. Higher gold prices should translate into strong profit margins and free cash flow generation.Barrick is challenged by higher costs, which may eat into its margins. Additionally, operational issues across certain mines are expected to lead to lower gold production, impacting the company’s performance.Final Thoughts: Hold Onto B SharesBarrick is well-placed with a strong pipeline of growth projects, solid financial health, a healthy growth trajectory and favorable gold market conditions. The strength in gold prices should also boost its profitability and drive cash flow generation. Despite these positives, its high costs and weaker production warrant caution. Holding onto the B stock will be prudent for investors who already own it, awaiting more clarity on the company’s prospects following its forthcoming earnings release. #1 Semiconductor Stock to Buy (Not NVDA)The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM): Free Stock Analysis Report Kinross Gold Corporation (KGC): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Barrick Mining Corporation (B): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks