**Barrick Mining: Fundamentals Outshine The Pullback – Here’s My Updated ‘Buy’ Case**
*By Mike Zaccardi, CFA, CMT*
Barrick Mining remains a “Buy” as gold consolidates after a historic rally. Since July, shares have jumped 55%, and the valuation remains attractive.
Barrick’s Q2 results showcased strong free cash flow and a dividend hike, despite mixed earnings and a $1 billion loss related to its Mali mine. The company’s EPS growth outlook is robust, with consensus estimates rising to $3.05 for fiscal year 2026. Based on a conservative 12x price-to-earnings (P/E) ratio, a new price target of $37 has been set.
Technical support is holding near the $32 level. Looking ahead, Q3 earnings will be a key catalyst for the stock. Nevertheless, investors should be mindful of risks including fluctuations in commodity prices, operational costs, and geopolitical tensions, particularly in Mali.
### Gold Market Overview
Gold has taken a breather after its stellar run, although the precious metal is still up about 50% so far in 2025. This marks its best year since 1979. Interestingly, the 1979 gold bull market experienced a similar consolidation phase toward the end of the third quarter, suggesting current price action may be a healthy pause before further gains.
—
### About the Author
Mike Zaccardi is a freelance financial writer with 8.36K followers. He specializes in investments, markets, personal finance, and retirement. Mike creates written content including articles, blogs, emails, and social media posts tailored for financial advisors and investment firms. His passion lies in crafting narratives that bring financial data to life.
Having worked with senior editors, investment strategists, marketing managers, data analysts, and executives, Mike contributes ideas to make content relevant, accessible, and measurable. With expertise in thematic investing, market events, client education, and investment outlooks, he communicates complex concepts in a clear and engaging way.
Mike enjoys analyzing stock market sectors, ETFs, economic data, and broader market conditions, producing concise content for diverse audiences. He is particularly excited by macro drivers of asset classes including stocks, bonds, commodities, currencies, and cryptocurrencies.
His style combines education with creativity, supported by empirical data and charts to simplify storytelling. Mike also focuses on SEO and adheres to specific style guides as needed.
—
### Analyst’s Disclosure
I/we have no stock, option, or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
—
### Seeking Alpha’s Disclosure
Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. The views or opinions expressed above may not reflect those of Seeking Alpha as a whole.
Seeking Alpha is not a licensed securities dealer, broker, US investment adviser, or investment bank. Our analysts are third-party authors, including both professional and individual investors, who may not be licensed or certified by any regulatory body.
—
**Comments**
*[Recommended For You]*
https://seekingalpha.com/article/4839633-barrick-mining-fundamentals-outshine-the-pullback-heres-my-updated-buy-case?source=feed_all_articles
