Barnes (US:B) ZACKS·2025-06-23 12:46Core Insights - Barrick Mining Corporation is implementing high-return growth projects that could significantly alter its production profile over the next decade, focusing on gold and copper production [1][4] Group 1: Key Projects - The Goldrush mine is expected to reach a production target of 400,000 ounces per annum by 2028, with the adjacent Fourmile project yielding grades double those of Goldrush and progressing to a pre-feasibility study [2] - The Reko Diq copper-gold project in Pakistan aims to produce 460,000 tons of copper and 520,000 ounces of gold annually by the end of 2028, while the Lumwana Super Pit expansion in Zambia, costing $2 billion, is set to double throughput and enhance mining volumes [3] Group 2: Production Growth and Financial Impact - These projects are anticipated to deliver significant low-cost production growth, improving Barrick's diversification and free cash flow profile if executed on schedule and within budget [4] - Successful execution of these projects will lead to a more diversified production profile, with copper contributing more significantly to revenue [4] Group 3: Market Performance and Valuation - Barrick's shares have increased by 35.1% year to date, compared to a 54.4% rise in the Zacks Mining – Gold industry, driven by a rally in gold prices [7] - The stock is currently trading at a forward 12-month earnings multiple of 10.51, which is approximately 24.8% lower than the industry average of 13.97 [9] - The Zacks Consensus Estimate indicates a year-over-year earnings rise of 43.7% for 2025 and 13.7% for 2026, with EPS estimates trending higher over the past 60 days [10]