Should I buy Barrick Gold stock in 2025? NZ Investor Guide

What is Barrick Gold?

How much is the Barrick Gold stock?

The price of Barrick Gold stock is slightly down today. Currently trading at $19.00 USD, the stock has decreased by $0.02 (-0.11%) over the past 24 hours, while showing a positive trend with a 12.29% gain this week. Barrick Gold’s market capitalisation stands at $32.62 billion, with an average three-month trading volume of 22.08 million shares. The company’s price/earnings ratio is 14.32, dividend yield is 2.11%, and its beta of 0.24 indicates low volatility. For New Zealand investors, Barrick Gold’s stable performance and steady dividends make it an appealing option amidst global market fluctuations.

Our full analysis of the Barrick Gold stock

After a rigorous review of Barrick Gold’s most recent financial statements and a detailed study of its stock performance over the past three years, our proprietary multi-factor models—combining current financial metrics, technical analysis, comparative sector positioning, and leading market signals—highlight a robust and evolving investment case. With input from both quantitative data and a qualitative assessment of the competitive landscape, Barrick Gold’s profile today appears remarkably constructive. So, why might Barrick Gold stock once again become a strategic entry point into the global resources and gold sector for 2025?

Recent Performance and Market Context

Barrick Gold (NYSE: B; TSX: ABX) has delivered a solid performance in the past twelve months, with its share price appreciating over 12.3% to close at USD 19.00 as of 30 May 2025—a remarkable return against a backdrop of increasing macroeconomic uncertainty and volatile commodities. The stock has oscillated within a 52-week range of USD 15.11 to USD 21.35, reinforcing its resilience and orderly progression despite intermittent sector headwinds.

Several recent developments underpin this robust trajectory:

• Record Q1 2025 financial results saw net income increase by 61% and adjusted EPS surge 84% year-over-year, decisively outpacing analyst expectations for earnings.
• The adoption of a new ticker (B) on the NYSE and a strategic rebranding to Barrick Mining Corporation signal renewal and expansion ambitions.
• Perhaps most impactful, the average realised gold price in Q1 2025 soared to USD 2,898/oz—a 40% year-over-year leap—directly benefiting operational margins and cash flow generation.

Macro and sector tailwinds are particularly favourable for Barrick. Notably, gold prices have remained at historical highs (spot price above USD 3,300/oz), while global risk appetite for defensive assets has increased. In the New Zealand context, where portfolio diversification and inflation hedging are perennial concerns, Barrick’s profile as a low-beta, globally diversified miner is especially compelling for local investors seeking resilience and upside.

Technical Analysis

Barrick’s technical pattern and momentum indicators display robust underpinnings for a bullish phase transition:

• RSI (14-day) stands at 54.44, in a neutral zone, allowing for further upside without overbought signals.
• MACD (12,26,9) at 0.05 signifies upward trend continuation.
• Stochastic Oscillator at 61.90 highlights accumulating buy-side pressure, with no signs of top-heaviness.

Crucially, all major moving averages (MA20 at $18.96, MA50 at $18.85, MA100 at $18.48, MA200 at $18.79) are flashing synchronized ‘buy’ signals, with price action consistently above these support levels. This alignment is rarely coincidental and points to institutional accumulation.

Chart structure indicates a crucial support at $18.00, which has been tested and held repeatedly, and a resistance ceiling near $20.70. A sustained break above that mark could catalyze a medium-term move toward consensus analyst targets in the mid-$24–25 range. Meanwhile, the stock is consolidating near the central pivot point of $19.02, providing an auspicious entry zone for strategically timed positions.

For investors seeking timing precision, current momentum, the firm structure above all significant moving averages, and a confluence of technical ‘strong buy’ signals suggest Barrick Gold may be entering a new upswing phase.

Fundamental Analysis

Barrick Gold’s financial fundamentals in 2025 have proven exceptional:

• Revenue for Q1 2025 reached $3.13 billion, up 14% from Q1 2024.
• Net income surged to $474 million, a 61% increase, demonstrating pronounced operational leverage in favourable commodity cycles.
• Adjusted EPS ($0.35) improved 84% year-on-year, reflecting disciplined expense management and substantial margin expansion (Q1 profit margin now 15%, up from 11% a year ago).

Valuation remains highly attractive relative to sector peers:

• Price/Earnings Ratio (P/E) of 14.32 is below the mining sector average, suggesting potential undervaluation and room for rerating.
• Dividend yield at 2.11% ($0.40/share annualized) offers income stability, especially relevant for New Zealand investors seeking steady distributions amid low deposit rates.
• PEG and P/S ratios reinforce the conclusion that market pricing ascribes limited value to Barrick’s new growth projects and margin optionality.

Structurally, Barrick benefits from:

• Six Tier-One gold mines located on three continents, an unrivaled footprint among miners.
• A robust and expanding copper exposure, improving forward earnings insulation as green energy and electrification accelerate raw material demand.
• A premium global brand under seasoned leadership (CEO Mark Bristow) and decades of proven execution.

The firm’s free cash flow has doubled year-on-year—a powerful metric validating its operational efficiency and resilience to commodity price swings.

Volume and Liquidity

Barrick Gold maintains a deep and liquid trading profile:

• Average daily volume over 22 million shares ensures tight bid-ask spreads and immediate access for both retail and institutional flows, a material advantage for larger New Zealand portfolio managers seeking global diversification.
• The free float of 1.72 billion shares underpins healthy market liquidity and supports dynamic valuation as catalysts materialize.

Sustained, high-volume trading around current price levels signals strong market confidence and builds a platform for responsive price formation as fundamentals continue to strengthen.

Catalysts and Positive Outlook

Several powerful drivers reinforce Barrick’s forward outlook:

• Major new projects: Reko Diq (Pakistan) and the Lumwana Super Pit (Zambia) signal material production growth and resource diversification, targeting a 30% increase in gold-equivalent output by 2029.
• ESG and capital allocation: A progressive dividend policy, ongoing share buybacks (up to $1 billion authorized for 2025), and an entrenched commitment to environmental and operational transparency support both investor confidence and ratings agency favour.
• Secured project financing up to $3 billion for Reko Diq ensures acceleration without dilutive equity raises.
• Gold price stability at historical highs provides a durable revenue platform, while increased copper exposure ensures Barrick remains strategically relevant as the energy transition plays out.
• The company is now actively returning capital to shareholders, having distributed over $3.5 billion in the past three years.

Importantly, consensus analyst targets center around $25.07 (+32% upside versus current price), with the most bullish forecasts running to $27.00—positioning Barrick at the forefront of global mining investments with clear visibility on future earnings accretion.

Investment Strategies

Barrick Gold’s current price action and outlook seem to accommodate a variety of portfolio strategies:

• Short-term:
• Technical support near $18 presents a tactical entry for swing traders. Anticipation of upcoming production updates, dividend declarations, or positive project news could serve as short-term price catalysts.
• Medium-term:
• Consolidation above major moving averages and indisputable fundamental improvement align with an intermediate holding horizon. Positioning ahead of crucial project milestones—such as first ore at Reko Diq or material progress at Lumwana—may offer attractive capital appreciation potential.
• Long-term:
• For NZ investors with an extended time horizon, Barrick’s resilient business model, sector leadership, and expanding resource base (gold and copper) suggest significant compounding potential. The low beta (0.24) also provides portfolio stability, particularly valuable amid recurring global macro volatility.

Positioning at or just above current technical support levels, ahead of expected project catalysts, seems ideally suited to capturing accretive upside with managed risk.

Is it the Right Time to Buy Barrick Gold?

A synthesis of financial, technical, and strategic dimensions paints a uniformly positive picture:

• Barrick Gold is delivering record operational and financial performance, leveraging firm gold prices and prudent capital discipline.
• Technical structures and short- to medium-term momentum are distinctly bullish, with consensus targets signaling 30%+ upside as projects come online.
• Its valuation remains appealing relative to historical and peer benchmarks, with a moderate P/E, solid yield, and robust free cash flow.
• The near-term catalyst pipeline (major project expansions, continued capital returns) offers further asymmetry to the upside.

For New Zealand investors seeking diversified, globally oriented exposure to both gold and copper, Barrick Gold’s ongoing transformation and current technical foundation seem to represent an excellent opportunity. As global macro conditions continue to favour real asset resilience and portfolio defensiveness, Barrick’s blend of innovation, yield, and growth positions it as a core mining sector holding for 2025 and well beyond.

In sum, Barrick Gold appears set to capture the next wave of value creation in the resources sector—potentially paving a compelling path for investors looking for both stability and substantial capital growth.

How to buy Barrick Gold stock in NZ?

Buying Barrick Gold stock online is a straightforward and secure process when you use a regulated online broker. Kiwi investors can choose between two main options: buying the real shares outright (“spot buying,” also known as cash purchase), or trading Contracts for Difference (CFDs) for leveraged, short-term exposure. Both methods offer different risk profiles and opportunities, and the right choice depends on your goals and experience. To help you decide where to start, you’ll find a detailed broker comparison further down this page.

Spot buying

Cash buying of Barrick Gold shares means purchasing and owning the actual stock, usually listed on the New York Stock Exchange (NYSE) in USD. With this method, you become a shareholder entitled to dividends and voting rights. Local online brokers typically charge a fixed commission per order—often around NZD $5–$15, though this varies by broker.

Example

Current share price: USD $19.00 (approx. NZD $31 at mid-2025 rates)
Investment amount: NZD $1,000
Estimated brokerage fee: NZD $5
With $1,000, after fees, you could buy around 32 shares ($1,000 minus $5 fee divided by NZD $31 per share ≈ 32 shares).

✔️ Gain scenario:
If Barrick Gold’s share price rises by 10%, your shares would now be worth NZD $1,100.
Result: +NZD $100 gross gain, or +10% on your initial investment.

Trading via CFD

CFDs (Contracts for Difference) allow you to speculate on Barrick Gold’s share price movements without owning the actual shares. You can go long (buy) or short (sell), and, importantly, use leverage to amplify your exposure. The main fees for CFDs are spreads (the difference between buy/sell prices) and overnight financing charges for leveraged positions held open overnight.

Example

Initial margin: NZD $1,000
Leverage: 5x (market exposure of NZD $5,000)
You open a long CFD position on Barrick Gold for $5,000.
✔️ Gain scenario:
If the stock price rises by 8%, your position gains 8% × 5 = 40%.
Result: +NZD $400 gain on your $1,000 stake (excluding fees).

Final Advice

Before you invest, always compare brokerage fees, currency conversion costs, and platform conditions to make sure you’re getting the best value for your strategy. Whether you choose spot buying for longer-term growth, or CFDs for shorter-term, leveraged trading, the best option depends on your objectives, experience, and risk tolerance. For help picking a suitable broker, see the comprehensive comparison tool further down the page.

Our 7 tips for buying Barrick Gold stock

The latest news about Barrick Gold

Barrick Gold's Q1 2025 results significantly exceeded expectations, with net income up 61% year-on-year. Barrick Gold reported a net income of $474 million in the first quarter of 2025, a 61% increase compared to Q1 2024, while adjusted earnings per share jumped 84% to $0.35, outperforming analyst forecasts. These robust results were underpinned by a strong operational cash flow of $1.2 billion and a 40% year-on-year rise in realised gold prices, supporting not only the company’s global strength but also providing confidence to New Zealand institutional investors who value stable, high-performing mining equities for portfolio diversification, especially amid a strong gold price environment.

Technical analysis currently signals a Strong Buy for Barrick Gold, backed by multiple key buying indications. At the close of May 2025, Barrick Gold’s technical chart shows positive momentum, with six out of eight technical signals flashing buy and all major moving averages (20, 50, 100, 200-day) supporting upward momentum. Relative Strength Index is neutral at 54.44, while both MACD and Stochastic oscillators point to further bullishness. This technical alignment could attract New Zealand-based traders and pension funds seeking low-beta, globally diversified positions, as Barrick’s stock remains less volatile (beta 0.24) compared to many resource sector peers.

Barrick Gold has reaffirmed its commitment to shareholder returns with a renewed $1 billion share repurchase program for 2025. Following its $3.5 billion returned to investors over the past three years, Barrick’s board recently authorized a fresh $1 billion share buyback program for 2025, together with a stable annual dividend yielding 2.11%. For New Zealand asset managers and KiwiSaver funds, these policies enhance Barrick’s appeal as an income and capital growth proposition, consistent with prudent risk management and shareholder-aligned corporate governance.

The current consensus target for Barrick Gold’s NYSE stock projects 32% upside, reflecting strong growth and gold price tailwinds. Analyst consensus, updated at the end of May 2025, places Barrick’s 12-month target price at $25.07 per share, almost 32% above the $19.00 spot price, citing the company’s robust financials, world-class assets, and continued benefits from high gold prices (now near $3,317/ounce). This positive outlook is especially relevant for New Zealand investors looking for strategic international exposure to gold, at a time when currency diversification and inflation hedging remain key regional themes.

Barrick’s ongoing expansion into copper and its announced projects in Zambia and Pakistan support future resilience and diversification. Barrick is aiming for 30% gold-equivalent production growth by 2029 via major projects like Reko Diq in Pakistan and the Lumwana Super Pit in Zambia, with project financing already secured up to $3 billion. The increased copper exposure not only strengthens ties to the global energy transition but also diversifies income streams, a factor closely monitored by New Zealand superannuation and sovereign wealth funds as they adjust allocations toward companies embrace both gold and green/critical minerals.

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.