Basic materials led all 11 primary sectors for most of the year. Gold stocks, in particular, helped the TSX breach the 30,000-point milestone on September 30, 2025. The parabolic run was in step with rising gold prices, which peaked at over $4,380 per ounce on October 30.
If you have $5,000 right now, Barrick Mining (TSX: ABX) is not only a golden opportunity but also the smartest Canadian stock to invest in. This large-cap stock has had a good year like physical gold. The share price is below $50, with a 110.7% year-to-date return. Also, at $46.44 per share, ABX pays a modest 1.79% dividend.
Gold’s historic rally has paused in November. However, it remains a safe-haven asset due to the uncertain and volatile geopolitical environment. Similarly, the basic materials sector pulled back, although the year-to-date gain is +70.3% compared with the TSX’s +20.9%.
Long-term growth foundation
The mining industry is inherently risky, but it’s safe to buy Barrick Mining and hold the stock long term. Its liquidity position and cash flow are solid and healthy. This $80.8 billion company owns tier-one gold and copper assets.
“We’re growing production, lowering costs, and advancing the industry’s most exciting pipeline of gold and copper projects,” said Mark Bristow, CEO of Barrick Mining. He added that the company’s long-term growth foundation continues to strengthen through reserve replacement and exploration. Also, Barrick will replace more than 80% of the gold it mines in 2025.
Barrick has operating mines in North America, Latin America, Asia Pacific, Africa, and the Middle East. According to management, the Fourmile project in Nevada is this century’s greatest gold discovery. Based on preliminary economic assessment, its combined grade, scale, and exploration upside is rare.
In Nevada alone, Barrick has nine underground mines in a large gold mining complex. The on-site construction of the Reko Diq Project in Pakistan, one of the world’s largest undeveloped copper-gold projects, is ongoing. Its first production from phase one is scheduled for year-end 2028.
Production and cash flows
A good investment prospect in the mining sector must have at least a high-quality portfolio and a robust balance sheet. Barrick both and more. In the first half of 2025, revenues and net earnings increased 15% and 93%, respectively, to $6.8 billion and $1.3 billion versus the same period in 2024.
Notably, free cash flow rose 107% year over year to $770 million. The 24% growth in copper production offset the 18% drop in gold production. Bristow notes the benefits of consistent delivery and disciplined execution across the business. He stressed that Barrick’s performance and growth are clear.
Regarding dividend safety and sustainability, this premier gold stock boasts a 38-year dividend track record. The payout ratio is 25.16%, while the payout frequency is quarterly. Barrick established a performance-based dividend policy in 2022. It means a quarterly performance dividend will be added to the regular dividend when liquidity is strong.
Sustainable value creation
You can liken Barrick Mining’s durability to gold. Bristow believes that the company is built for sustainable value creation. His pitch is that ABX offers a peerless investment case in the gold and copper space.
