Barrick Mining Output Rebound Drives 2.62% Rally as Volume Surges into Top 500

Barrick Mining (B) rose 2.62% on August 22, 2025, with a trading volume of $0.55 billion, as production rebounded in Q2. The miner reported 797,000 ounces of gold output, a 5% sequential increase, driven by higher throughput at Nevada Gold Mines and Pueblo Viejo. This reversed a 30% decline in Q1, largely due to Loulo-Gounkoto mine suspensions. The company reaffirmed full-year guidance of 3.15-3.5 million ounces, excluding Loulo-Gounkoto, with 54% of production expected in the second half, peaking in Q4.

Barrick’s stock has outperformed its industry, gaining 64.7% year to date compared to the Zacks Mining – Gold industry’s 72.7% rise. It trades at a forward P/E of 11.31, a 16.7% discount to the industry average of 13.57X. Earnings estimates for 2025 and 2026 suggest a 54.8% and 20.9% year-over-year increase, respectively, with EPS expectations trending higher over the past 60 days. The Zacks Rank #3 (Hold) reflects balanced momentum and valuation metrics.

A backtest of a strategy buying the top 500 volume-driven stocks and holding for one day from 2022 to 2025 yielded a 31.52% total return, averaging 0.98% daily. The Sharpe ratio of 0.79 highlights strong risk-adjusted returns, with peak daily gains of 4.95% and lows of -4.47%, underscoring market volatility.