Barrick Mining keeps 'Outperform' rating as gold production rises 11% in Q2, trading at a 15% valuation discount.

Barrick Mining maintains an 'Outperform' rating from Bernstein despite a lowered price target of $56.50, down from $61.00. The company reported an 11% increase in gold production in Q2 to 796,000 ounces, with further growth expected in the coming quarters. Barrick's stock trades at a 15% discount to the industry average forward earnings multiple, suggesting it may be undervalued. However, risks like rising costs and a flat production forecast for 2026 temper the outlook, alongside a recent stock pullback amid falling gold prices.