Barrick Mining (TSX:ABX) After Earnings Growth And Newmont Deal Still Looks Slightly Undervalued

Barrick Mining (TSX:ABX) has drawn fresh investor attention after reporting higher year over year second quarter and first half 2026 sales and net income, alongside a new agreement expanding its Nevada Gold Mines joint venture with Newmont.

See our latest analysis for Barrick Mining.

The recent earnings beat, confirmation of 2026 production guidance and the expanded Nevada Gold Mines agreement appear to have shifted sentiment toward Barrick Mining, reflected in a 27.08% 1 month share price return and a very large 5 year total shareholder return that far outpaces the shorter term moves.

If Barrick Mining’s recent momentum has you thinking about other opportunities in precious metals, this is a good moment to review 30 elite gold producer stocks.

After a 27.08% 1 month move and only a modest 3.5% gap to the average analyst target, Barrick Mining trades well inside the range of fair value estimates. Is the remaining 13.6% implied upside still meaningful?

Most Popular Narrative: 5.1% Undervalued

Compared to the last close at CA$62.36, the most followed narrative puts Barrick Mining’s fair value at CA$65.74, supported by detailed long term forecasts and cash flow work.

Significant ongoing expansion of both gold and copper production capacity, particularly at Lumwana and via organic growth at Fourmile and Reko Diq, positions Barrick to capture elevated long-term demand for gold (as a financial hedge during geopolitical uncertainty/inflation) and copper (driven by electrification and infrastructure investment), supporting top-line revenue growth over the coming decade.

Read the complete narrative. Read the complete narrative.

Want to see what underpins that fair value for Barrick Mining? The narrative leans on detailed revenue, earnings and margin paths plus a specific discount rate and future earnings multiple.

Result: Fair Value of CA$65.74 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, the Barrick Mining narrative could be knocked off course if political instability around key African assets worsens, or if ESG and permitting demands lift long term costs.

Find out about the key risks to this Barrick Mining narrative.

Next Steps

Given the mix of optimism and caution around Barrick Mining, this is a good time to review the data yourself and decide where you stand. To see both sides clearly, take a closer look at the 4 key rewards and 2 important warning signs.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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