Barnes (US:B) ZACKS·2026-01-16 15:41Core Insights - Barrick Mining Corporation experienced a 13% year-over-year decline in third-quarter 2025 gold sales volumes to 837,000 ounces, primarily due to lower production linked to the suspension of operations at the Loulo-Gounkoto mine [1][7] - The company forecasts gold production for 2025 to be between 3.15 million and 3.5 million ounces, a decrease from 3.91 million ounces in 2024, excluding the suspended Loulo-Gounkoto mine [2][7] - The consensus estimate for fourth-quarter gold production is approximately 881,000 ounces, indicating an 18% year-over-year decline, which may continue to affect sales volumes despite higher realized gold prices [3] Production and Sales Performance - Barrick's third-quarter production fell 12% year over year to 829,000 ounces, contributing to the decline in sales volumes [1][7] - The anticipated production increase from other mines like Pueblo Viejo, Turquoise Ridge, Porgera, and Kibali is expected to be offset by reduced output from Veladero and Phoenix, along with the impact of divestments [2] Industry Comparison - Newmont Corporation reported a 16% year-over-year decline in gold sales volumes and a 15% decrease in production, reflecting similar challenges in the industry [4] - In contrast, Agnico Eagle Mines Limited saw a 1% year-over-year increase in gold sales volumes, indicating a more favorable performance compared to Barrick and Newmont [5] Financial Metrics - Barrick's shares have appreciated by 133.9% over the past six months, outperforming the Zacks Mining – Gold industry's increase of 85.3% due to a rally in gold prices [6] - The company is currently trading at a forward 12-month earnings multiple of 14.97, which is about 3.2% lower than the industry average of 15.46 [8] - The Zacks Consensus Estimate for Barrick's 2025 earnings suggests a year-over-year increase of 79.4%, with stable EPS estimates over the past 60 days [9]