Barrick Gold Welcomes New CEO Amidst Record Performance and Gold Price Surge
Barrick Gold has welcomed a new interim CEO, Mark Hill, succeeding Mark Bristow. This change comes amidst the company's impressive year-to-date performance and a surge in gold prices.
Barrick Gold's stock has soared by 111.2% since January, outpacing the broad market's average growth of 115.1%. The company's strong performance is reflected in its earnings estimates, with a projected 67.5% increase in 2025 and a further 13.8% growth expected in 2026.
Under Bristow's leadership, Barrick Gold returned $6.7 billion to shareholders and reduced net debt by $4 billion. The company's financial health has attracted positive analyst sentiments. Bank of America has raised its price target for gold to $5,000 per ounce, while Raymond James Financial has boosted its earnings forecast for Barrick Gold's third quarter of 2025 to $0.62 per share.
Barrick Gold's recent success is also driven by the soaring gold prices. The precious metal has hit an all-time high of over $4,000 per ounce. The company has capitalized on this trend by selling its stake in the Tongon gold mine in the Ivory Coast to the Atlantic Group for $305 million, and agreeing to sell the Canadian Hemlo gold mine to Carcetti Capital Corp. for up to $1.09 billion.
Mark Hill takes the helm at Barrick Gold as the company continues to thrive in a bullish gold market. With strong earnings projections, positive analyst sentiments, and strategic asset sales, Barrick Gold is well-positioned for future growth.
