Should I buy Barrick Gold stock in 2025?

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At HelloSafe, our expert has been monitoring Barrick Gold's performance for more than three years. Every month, hundreds of thousands of users across Canada rely on us to interpret market trends and highlight the best investment opportunities. Our analyses are for informational purposes only and do not constitute investment advice. In line with our ethical policy, we have never been, and will never be, compensated by Barrick Gold.

What is Barrick Gold?

How much is Barrick Gold stock?

The price of Barrick Gold stock is rising this week. As of April 30, 2025, Barrick is trading at $26.12 on the TSX, showing a 24-hour gain of +1.16% and a weekly increase of +2.55%. Barrick’s market capitalization stands at $32.59 billion, with an average three-month trading volume of 25.8 million shares. The stock features a P/E ratio of 15.53, a healthy dividend yield of 1.53%, and a beta of 0.69, reflecting below-average volatility. With steady growth and manageable risk, Barrick Gold continues to be an appealing consideration for Canadian investors seeking diversified exposure to gold and copper markets.

Our full analysis on Barrick Gold stock

After a thorough review of Barrick Gold’s most recent financial results and a close examination of the stock’s performance over the past three years, our multi-factor analysis leverages proprietary algorithms that synthesize financial indicators, technical data, valuation inputs, and the competitive landscape across both North America and global peers. Against a complex backdrop for commodities, Barrick Gold’s consistent execution and evolving project pipeline prompt one central question for forward-looking investors: Could Barrick Gold stock once again become a strategic entry point into the metals and mining sector in 2025?

Recent Performance and Market Context

Barrick Gold Corporation (NYSE: GOLD; TSX: ABX) has demonstrated notable resilience and renewed growth momentum in 2024, solidifying its reputation as a cornerstone play within the global mining sector. Over the past year, the stock has appreciated by 13.88%, with particularly robust gains year-to-date (+22.57%) that outpace both the S&P/TSX Global Gold Index and many direct competitors. Despite a modest pullback in the last month (-0.99%), the underlying uptrend remains constructive, especially considering the complex macroeconomic climate.

Positive recent developments underpinning this performance include a surge in net earnings to $2.14 billion in Q4 2024 (a 69% year-over-year increase) and a dramatic doubling of free cash flow to $1.32 billion. Shareholder returns reached $1.2 billion last year, reflecting not only strong operational performance but also management’s commitment to maintaining and increasing capital returns via dividends and buybacks. Overlaying these results is a supportive macro environment: robust gold demand amid global growth uncertainties, renewed institutional interest in copper as a “green transition” metal, and historically low real interest rates. Taken together, these factors provide a highly favorable context for continued equity market outperformance.

Technical Analysis

Technical indicators reinforce Barrick Gold’s constructive setup. The share price, having climbed above its 200-day moving average (currently ~$18.58 USD), has repeatedly found strong support at $18.45, comfortably within the lower end of its recent trading range ($15.11–$21.35). Resistance at $19.03 remains key, but with average daily volumes of 25.8 million shares and a measured beta of 0.69, the stock displays attractive liquidity and lower volatility than many peers.

Momentum oscillators such as RSI and MACD currently indicate neutral-to-bullish conditions, with no signs of overextension. Both short- and medium-term chart structures point to renewed buying interest, especially as the stock has rebounded from its 6-month troughs without breaching critical long-term supports. For technically oriented investors, this moment represents a compelling combination of stabilized price action, robust support, and a nascent bullish reversal.

Fundamental Analysis

Barrick Gold’s fundamentals are a model of operational strength and value. Revenues and earnings have surged, driven by improved production efficiency, strategic asset management, and disciplined cost control. In 2024, attributable EBITDA soared to $5.19 billion—its highest in over a decade—while operating cash flow climbed to $4.49 billion.

Valuation remains distinctly attractive. Barrick currently trades at a P/E of 15.53 and a forward P/E of just 10.18, below the peer group median, signaling potential undervaluation given the quality and longevity of its asset base. The price-to-book ratio of 1.34 also compares favourably versus sector averages, indicating prudent capital allocation rather than aggressive risk-taking.

On a structural level, Barrick’s innovation edge is underpinned by its leading reserve replacement rate (over 180% since 2019), making it one of the few gold majors expanding rather than merely sustaining its proven resources. The company’s balanced asset mix—spanning North America, Africa, and Asia-Pacific—including sector-leading positions in both gold and copper, reinforces a competitive moat and brand strength that supports premium valuations.

Volume and Liquidity

Sustained trading volume—averaging nearly 26 million shares daily—underscores deep institutional participation and market confidence. This liquidity facilitates dynamic valuation, providing investors with efficient entry and exit opportunities. The stock’s float profile further allows for constructive price discovery, minimizing the risk of sharp, liquidity-driven dislocations even during periods of heavy trading or macro volatility.

Catalysts and Positive Outlook

• Growth Projects: The company’s global expansion is accelerating on multiple fronts. The $2B Lumwana Super Pit Expansion will double copper output in Zambia, extending mine life by 17 years with substantial future cash flows. The Reko Diq project in Pakistan, one of the world’s largest undeveloped copper-gold deposits, is on track for first production by 2028, promising to materially transform Barrick’s growth profile.
• Resource Expansion: Gold reserves surged 23% to 89 million ounces, while copper reserves soared 224% to 18 million tonnes in 2024 alone—both outcomes reflecting relentless exploration success.
• Operational Excellence: Productivity enhancements at legacy assets, coupled with advanced-stage projects like Fourmile (Nevada) and ongoing optimizations at Pueblo Viejo, present further potential for margin expansion and revenue growth.
• ESG Initiatives: Barrick’s credible progress on sustainability, social engagement, and responsible mining practices has won increasing recognition from institutional investors and ESG index providers—a supportive trend for medium- and long-term valuation uplift.

The convergence of these catalysts—along with supportive gold and copper macro trends and Barrick’s established capital return program—create a context rich in favourable upward momentum for the stock.

Investment Strategies

• Short-Term: Investors seeking tactical exposure may find opportunity on temporary pullbacks toward technical support ($18.45), as recent trading history reveals repeated rebounds at this level amid steady volume and tight spreads.
• Medium-Term: With key projects entering critical development phases and underpinned by a $1 billion buyback program, the stock presents potential for rerating as incremental operational and financial milestones are delivered throughout 2025.
• Long-Term: For those building positions in the gold and critical minerals sector, Barrick’s deep pipeline—from resource conversion to world-class Tier One projects—sets the stage for durable capital appreciation, further reinforced by a healthy and growing dividend stream.

Investors looking to optimize entry may find the current price range (near the 200-day moving average, and above multi-month supports) to be particularly favourable—especially ahead of major production and exploration updates. Positioning at a technical low or just prior to expected project news may generate enhanced risk-adjusted returns, within a portfolio context that values stability and capital return.

Is it the Right Time to Buy Barrick Gold?

Barrick Gold demonstrates a host of compelling strengths: elite production metrics, strong and growing free cash flow, a robust balance sheet, and a wide margin of operational safety across global jurisdictions. Its active capital return policy, rapidly growing copper exposure (a key theme for the energy transition), and advances in project development all contribute to a compelling upside scenario for 2025 and beyond.

With solid support from technical indicators, attractive valuation multiples, and a diversified project pipeline that rivals or exceeds direct competitors, Barrick Gold seems to represent an excellent opportunity for strategic portfolio positioning within mining and metals. The fundamentals justify renewed interest, and the convergence of macro, project, and operational catalysts suggests the stock may be entering a new bullish phase.

For Canadian investors seeking resilient growth, direct exposure to both gold and essential battery metals, and the stability of a well-capitalized industry leader, Barrick Gold stands out as a stock to watch closely as the next chapter of sector outperformance unfolds.

In summary, the combination of operational excellence, robust project momentum, and attractive valuation supports a constructive outlook—making Barrick Gold a stock that warrants serious consideration for purchase as the metals cycle tilts in favor of disciplined, growth-focused market leaders.

How to buy Barrick Gold stock in Canada?

Buying Barrick Gold shares online is both straightforward and secure, thanks to the availability of regulated brokers in Canada. Investors can choose between two main methods: purchasing actual Barrick Gold shares directly (spot buying), or trading Contracts for Difference (CFDs), which allow you to speculate on price changes without owning the underlying shares. Each method offers unique benefits and considerations in terms of risk, fees, and investment strategy. To help you make an informed decision, a thorough broker comparison is available further down the page—be sure to consult it before investing.

Spot buying

Cash purchase (or spot buying) of Barrick Gold shares means you become the direct owner of actual company stock. This method is ideal for long-term investors who want to benefit from share price appreciation and potential dividend payouts. Typically, Canadian brokers charge a fixed commission per order, usually ranging from $5 to $10 CAD, regardless of the amount invested.

Important information

Example: If the Barrick Gold share price on the Toronto Stock Exchange is $26.12 CAD, with a $1,000 CAD investment, you can buy approximately 38 shares (rounded down), accounting for a typical brokerage fee of around $5.
✔️ Gain scenario: If the share price increases by 10%, your shares would then be worth $1,100 CAD.
Result: +$100 gross gain, representing a +10% return on your initial investment (excluding brokerage fees and taxes).

Trading via CFD

CFD (Contract for Difference) trading allows you to speculate on Barrick Gold’s share price movements without owning the stock directly. This method is popular for short-to-medium-term strategies and provides access to leverage, meaning you can control a larger market position with a smaller amount of capital. With CFDs, fees typically include the spread (the difference between buy and sell prices) and overnight financing charges if you hold leveraged positions beyond a single day.

Important information

Example: Suppose you open a CFD position on Barrick Gold shares with $1,000 CAD as margin and use 5x leverage. This gives you $5,000 CAD worth of market exposure.
✔️ Gain scenario: If the stock price rises by 8%, your position gains 8% × 5 = 40%.
Result: +$400 gain on your $1,000 deposit (excluding spread and financing costs).

Final advice

Before investing, it is crucial to compare the fees, platform features, and conditions of different Canadian brokers, as these can significantly impact your returns. Your choice between direct share ownership and CFD trading should reflect your investment goals, time horizon, and risk tolerance. Whether you prefer the stability of long-term shareholding or the flexibility of leveraged trading, using a reputable, regulated broker is essential—and you’ll find a comprehensive broker comparison further down the page to help guide your decision.

Platforms

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4.9

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$50

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Avatrade

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Our 7 tips for buying Barrick Gold stock

The latest news about Barrick Gold

Barrick Gold reported a robust first quarter, driven by record-high EBITDA and significant net earnings growth. The company announced a net earnings increase of 69% year-over-year, with attributable EBITDA reaching its highest level in over a decade at $5.19 billion. Operating cash flow rose by 20%, and free cash flow more than doubled compared to last year. These results were supported by steady gold and copper production, which both met or exceeded guidance—solidifying the Toronto-headquartered miner’s status as a financial outperformer among its global peers. For Canadian investors, this reinforces Barrick’s resilience and operational strength within North American markets.

Barrick Gold launched a major share buyback program, authorized for up to $1 billion over the next 12 months. Building on $498 million in buybacks already completed in 2024, Barrick’s board approved a new substantial share repurchase plan, further demonstrating their commitment to shareholder returns. With total capital returns—through dividends and buybacks—reaching $1.2 billion in the last year alone, this is an important positive signal to the Canadian market. It provides added confidence to domestic investors, emphasizing effective capital allocation and value creation as Barrick strengthens its listing on the Toronto Stock Exchange.

The company’s gold and copper reserves increased significantly, with gold reserves up 23% and copper reserves up 224% year-over-year. The growth in reserves is especially noteworthy for Canadian stakeholders, reflecting a reserve replacement rate of over 180% since 2019. This positions Barrick as a leader in resource sustainability and supports ongoing production visibility from its Canadian and global mines. These reserve increases are a testament to Barrick’s successful exploration strategy and bolster its long-term growth prospects for both its Toronto-based operations and international projects.

Barrick’s flagship North American assets—including the Nevada Gold Mines joint venture—continue to deliver strong operational results that underpin Canadian-listed performance. Nevada Gold Mines in the U.S. has been a standout contributor, meeting production guidance and providing stable cash flow to the overall business. For Canadian analysts and investors, this North American stability helps mitigate some of the geopolitical exposures that Barrick faces in other jurisdictions, directly influencing the performance of Barrick’s stock on the TSX and supporting Canada’s prominence in the global mining industry.

The ongoing low debt-to-EBITDA ratio and a healthy cash balance support Barrick’s financial flexibility and risk profile. The company ended the most recent quarter with $4.07 billion in cash and equivalents, alongside a debt-to-EBITDA ratio of just 0.1:1. This low leverage ensures Barrick is well-positioned to self-fund its growth pipeline, navigate commodity price fluctuations, and weather any operational setbacks. Such balance sheet discipline is particularly valuable given the current macroeconomic uncertainty, strengthening investor confidence in Canada’s largest gold producer and ensuring its capacity to sustain dividends and growth investments.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.