Barrick Stock Surges 2.03% on CIBC Upgrade and Record Earnings Ranks in Top 500 Trading Volume

Barrick (B) rose 2.03% on August 15, 2025, with a trading volume of $270 million, reflecting renewed investor confidence. The stock’s performance followed a CIBC upgrade from Neutral to Outperform, maintaining a $30.01 price target. The move was driven by Barrick’s Q2 2025 results, which included a $0.47 earnings-per-share (EPS) figure—the highest since 2013—supported by 5% sequential growth in gold production and a 34% surge in copper output. Nevada Gold Mines and Pueblo Viejo contributed significantly, with 11% and 28% quarterly production increases, respectively.

Strategic initiatives further bolstered sentiment. Barrick announced the sale of its Hemlo gold mine in Canada, signaling a shift toward copper assets. The company also raised its dividend by $0.15 per share and authorized $268 million in share repurchases during the first half of 2025. Analysts highlighted Barrick’s strong cash flow generation, with $2.5 billion in operating cash flow and $770 million in free cash flow for the period, up 32% and 107% year-over-year, respectively.

Additional upgrades from Scotiabank and National Bank reinforced the positive outlook. Scotiabank raised its price target to $26 from $25, while National Bank revised its FY2027 EPS forecast to $2.38 from $1.97. These actions underscored expectations of sustained earnings growth amid expanding copper production and cost discipline improvements. Barrick’s all-in sustaining costs (AISC) for gold declined by 5% to $1,684 per ounce, despite a 12% year-over-year increase in Q2.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to the present delivered moderate returns. Total profit reached $10,720, with cumulative returns at 1.08 times the initial investment. This highlights the potential of high-volume stocks to generate steady gains, though market dynamics caused occasional fluctuations in performance.