Earnings Review · 15 August 2026
Barrick Mining Stumbled This Quarter. Why It Still Clears Our Ethical Screen.
The print
Revenue $5.22B. EPS $0.82 vs $0.84 expected.
Did the flow confirm the move?
Underlying money flow is constructive: buyers in control on balance going in. Options positioning reads bullish, and it agrees with the tape flow: two independent footprints pointing the same way, a higher-conviction read.
Give the business its due
The business itself is genuinely strong: revenue growing about 67%, net margins near 32%, a narrow competitive moat.
The valuation lens
Our framework labels the valuation n/a. Fair value lands near $47 against a $41 share price, a margin of safety of about 14%. The trailing multiple sits around 11 times earnings, which only makes sense if the growth holds.
The ethical lens, our differentiator
Screens compliant (both standards agree). A name values-conscious investors can weigh on the merits.
The compliant alternative
There is no direct compliant equivalent in the same industry on our screen, the honest answer is to screen a step wider rather than reach for a false substitute.
The verdict for a values-conscious investor
It clears the screen; size it to your own risk and conviction. We do not confuse a strong quarter with a suitable holding.
This is analysis, not financial advice. Always manage your risk.
