1911 Gold Corporation (TSXV: AUMB; OTCQX: AUMBF)
1911 Gold is Manitoba’s Gold Standard - Ready, Permitted and High-Grade 1911 Gold is an Emerging Gold Producer, with Significant Cash Flow Generation and District-Scale Growth Potential
Barrick Mining (TSX: ABX) has recently demonstrated strong stock performance, with the Canadian gold producer surging 26% in August to reach a 52-week high, delivering substantial returns to investors. Following such a notable rally, the market is closely watching whether the stock still possesses upside potential as it enters September.
The company’s second fiscal quarter earnings report, released in August, delivered outstanding results. Adjusted net earnings per share reached $0.47, a significant 47% year-over-year increase, marking the best quarterly performance since 2013. This robust performance was driven by steadily rising gold prices and improved operational efficiency. Since the beginning of 2025, gold prices have climbed by 35%, reaching an all-time high of $3,500 per ounce in September. This has enabled Barrick to sell gold at higher prices, directly boosting its revenue, profits, and free cash flow.
On the operational front, all of Barrick’s production regions are on track to meet their 2025 output and cost targets. All-in sustaining costs (AISC) decreased by 5% quarter-over-quarter, reflecting continuous improvements in management efficiency. Gold production in Nevada increased by 11% compared to the previous quarter. Additionally, Barrick is actively expanding its copper business, with copper production rising by 34% quarter-over-quarter. The expansion of copper operations has not only reduced unit costs but also enhanced the company’s overall profitability.
Even after the significant rally in August, Barrick’s stock valuation remains attractive. Its forward price-to-earnings (P/E) ratio stands at approximately 10 times, below the industry average of 24 times. The forward price/earnings-to-growth (PEG) ratio ranges between 0.3 and 0.8. A PEG ratio below 1.0 typically indicates that a stock may be undervalued, providing a compelling reason for long-term investors to hold or increase their positions. The company is also actively returning value to shareholders, having spent $410 million on share repurchases in the first half of the year, demonstrating management’s confidence in the future.
Beyond gold, Barrick is strategically expanding its copper mining business. The Reko Diq project in Pakistan, once fully operational, is expected to become one of the world’s largest copper mines. Against the backdrop of the ongoing global energy transition, copper demand is projected to grow significantly, positioning copper as a core driver of the company’s future growth.
In summary, for investors optimistic about the continued strength of gold prices and the future potential of copper as a critical metal, Barrick offers an investment opportunity that combines attractive valuation with strategic growth. The company’s stable operations, sound financial health, and clear shareholder return policy make it worthy of continued attention in September and beyond.
