Barrick Mining (TSX: ABX) just delivered one of its strongest operational quarters in years. Gold production beat guidance, costs remained within the company’s range, revenue increased while major peers declined, and capital spending guidance actually came down. Yet the stock still sold off hard.
The problem was not really the mines. It was everything surrounding them.
Attributable free cash flow collapsed to just $141 million, shareholder returns far exceeded cash generated during the quarter, and Barrick’s deal with Newmont over Fourmile sparked another round of questions about valuation, strategy, and whether management gave away too much of one of Nevada’s most important undeveloped gold assets.
In this video, we break down Barrick’s Q2 results, gold production, rising costs, collapsing free cash flow, the Nevada Gold Mines deal, and how the stock compares with Newmont, Agnico Eagle, and Kinross on valuation.
