Shares of Barrick Mining (TSX: ABX), one of the largest gold producers in the world, have been rallying all year long and have surged to a fresh 52-week high, climbing to more than $52 per share after it reported third-quarter earnings earlier this week.
In total, Barrick stock is up by more than 120% on the year, which is a massive gain for a company with a market cap of more than $80 billion.
So, let’s look at why Barrick has seen such a significant rally this year and why it once again just hit a new 52-week high.
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The price of gold is having a huge impact on Barrick stock
The number one reason why Barrick continues to outperform the TSX this year is due to the significant rally in the price of gold throughout 2025.
At the start of the year, gold was trading at just over US$2,600, and today it’s trading closer to $4,200 per ounce, a roughly 60% increase, which is a massive leap for the price of gold.
In addition to the broad-based rally in the gold sector, though, Barrick has also been performing exceptionally well.
For example, not only did Barrick continue to generate strong free cash flow in the third quarter, but it also increased both its dividend and its buybacks as a result.
So, with gold continuing to rally higher and Barrick firing on all cylinders, it’s no surprise the stock keeps hitting new highs.
