Commodities
Barrick Revenue Surges 44% on Gold and Copper Price Boom
Barrick's revenue has seen a significant increase of 44% due to strong gold and copper prices. The company reported $5.29 billion in revenue, with adjusted EBITDA rising by 51%. This growth is attributed to Barrick's focus on both metals, positioning it well for the expected copper supply deficits in 2027-2028.
The North American IPO, which was previously delayed, may now take place in 2027. If operational improvements continue, this could lead to higher valuation premiums. Currently, shares trade at a discount compared to peers, with a target price implying 23% upside potential by fiscal 2027.