Barrick Gold Corporation

ABX.TO

Gold · Basic Materials

Price

C$65.56

+1.72 (+2.69%)

Market Cap

C$109.85B

Exchange

Toronto Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Exceptional

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Strong

Dividends

Strong

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Share count falling — buybacks

−4.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.78B (2021) → 1.71B (2025)

Winston Score History

The full picture

Barrick Gold Corporation is one of the largest gold mining companies in the world. It digs gold and copper out of the ground at mines spread across multiple continents, then sells that metal to banks, refiners, and commodity markets. The company is headquartered in Canada and is best known for its gold production, which makes up the large majority of its revenue.

Barrick makes money by selling the gold and copper it mines at market prices. It operates major mines in Nevada, Canada, the Dominican Republic, Mali, Tanzania, and Papua New Guinea, making it a truly global business. Its main competitive advantage is owning large, long-life mines with relatively low production costs, which helps protect profits even when gold prices fall. The biggest risk the company faces is that gold prices are set by global markets and outside Barrick's control, meaning a sustained drop in the gold price would directly hurt its earnings.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+40.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+51.1% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$10.2B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Barrick Gold Corporation grew revenue 41% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

51.7%

Healthy — 51.7% gross margin

Profit after running costs

Operating Margin

51.1%

Excellent — 51.1% operating margin

Return on the money invested

ROCE

33.9%

Exceptional — 33.9% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+48.6%

Fast-growing sales (+48.6% YoY)

Profit growth

EPS YoY

+143.4%

Earnings growing fast (+143.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

150%

Turns 150% of profit into real cash

Spare cash per sale

FCF Margin

27.0%

Converts sales into free cash efficiently (27.0%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.17

Conservative — low debt load (0.17)

Covers its interest

Interest Cover

35.65x

Comfortably covers interest (35.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

12.3x

Attractive valuation — P/E 12.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+3.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (12.3 → 8.9)

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Dividends

Dividend

Dividend Yield

2.46%

Moderate income — 2.46% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+126.7%

Dividend growing fast (126.7% YoY)

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