Barrick Mining beats Q4 profit view, names new CEO, to IPO N.America assets

Overview

• Mining company's Q4 revenue rose 45% yr/yr, beating analyst expectations

• Adjusted EPS for Q4 beat analyst expectations, rising 79% from Q3

• Company declared $0.42 per share dividend, a 140% increase over Q3

• Barrick names Mark Hill as president and CEO to lead through the planned IPO of its North American gold assets

Outlook

• Barrick forecasts 2026 gold production at 2.90–3.25 mln ounces

• Company expects 2026 copper production between 190,000 and 220,000 tonnes

• Barrick plans IPO for North American gold assets to maximize shareholder value

Result Drivers

• GOLD AND COPPER PRODUCTION - Q4 gold production rose 5% and copper production increased 13% from Q3, contributing to higher revenues

• RECORD CASH FLOW - Record quarterly cash flow with operating cash flow of $2.73 bln and free cash flow of $1.62 bln, up 13% and 9% over Q3

• FOURMILE PROJECT - Doubled gold resource at Fourmile project in Nevada, indicating potential for significant future growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy"

• Wall Street's median 12-month price target for Barrick Mining Corp is C$78.00, about 18.6% above its February 4 closing price of C$65.74

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nGNX2rpz4f

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