Barrick Mining (NYSE: B) Just Broke Out on a Landmark Deal – Could Soar 25%

Barrick Mining Corporation (NYSE: B) just broke out and looks headed even higher.

As we’ll get to just ahead, the combination of a landmark strategic deal that unlocks a major planned spinoff, a blockbuster quarterly earnings and production beat, and a fresh technical breakout makes B one of the more interesting setups on the board. Here’s what’s going on…

The Themes Behind the Move

In plain English, Barrick Mining is one of the world’s largest gold miners. Beyond gold, the company also explores for and produces copper, silver, and energy materials across a global footprint of mines in North America, Africa, Latin America, the Middle East, and Asia Pacific. Formerly known as Barrick Gold Corporation, the company rebranded to Barrick Mining in May 2025 to reflect its broader multi-metal identity.

B’s latest move reflects a confluence of developments — corporate, operational, and macro — that have come together in rapid succession to reshape the company’s near-term trajectory. Here’s a breakdown of what’s driving the momentum:

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Put it all together, and B is looking less like just another gold miner riding a commodity cycle and more like a company on the verge of a structural re-rating — with a de-risked spin-off catalyst, a blowout quarter under its belt, and a macro backdrop doing heavy lifting on margins.

The story is getting stronger, but the chart is what could determine whether this move has more room to run in the near term. Here are the bullish technical signals traders should be watching now.

Bullish Technical Signals

#1 Downtrend Channel Breakout (Daily): B spent the last six months compressing inside a well-defined descending channel (purple rails on the daily chart), grinding lower from the January peak near $52 through a series of lower highs and lower lows. That structure has now been decisively invalidated — price has broken through the upper boundary and closed at $47.60, well outside the channel. Descending channel breakouts carry weight beyond a simple resistance clear: they confirm that buyers have absorbed every layer of distribution the channel was delivering and are still bidding the stock higher. This reframes the entire Feb–Aug decline as a corrective phase inside a larger uptrend, not the start of a sustained leg lower — and it is the structural trigger that anchors the rest of the setup.

B – Daily Chart

#2 Price Above Both Key Moving Averages (Daily): B is now trading well above its 50-day SMA ($38.86) and 200-day SMA ($42.00), with the 50-day still holding beneath the 200-day for now but curling higher — the alignment is repairing rather than fully stacked, so this is a trend that’s reasserting itself rather than a mature uptrend. Both averages now define a tiered support shelf: $42.00 first, then $38.86 as the deeper defense. One caveat worth flagging plainly — at $47.60, price sits roughly 13% above the 200-day and over 22% above the 50-day, meaning the stock is meaningfully extended after the breakout candle. That doesn’t invalidate the thesis, but it does mean a pullback toward the $42–$44 zone would be a normal, healthy breather and arguably the higher-quality entry versus chasing the vertical move.

#3 ADX and DI Configuration (Daily): The directional read here is textbook early-trend. +DI has surged to 45.98 while –DI has collapsed to 17.38 — a wide 28-point spread that puts directional control unambiguously with the buyers. ADX itself sits at 21.13, positioned between the two DI lines and still below the 25 threshold that formally denotes a trending market — which is precisely what makes this signal interesting rather than a caveat. Because ADX is direction-agnostic and measures only trend strength, an inflection higher from a compressed base — with a massive DI spread already in place — is the indicator’s way of saying a new trend is forming and has runway before it becomes obvious. A print already at 40 or 50 would flag a mature move; at 21 and rising, the trend is still in its early innings.

#4 Bullish Aroon Configuration (Daily): Aroon is pinned at the bullish extreme: Aroon Up at 100 while Aroon Down has collapsed to 0 — the strongest possible reading this indicator can print. Aroon Up at its ceiling means B has registered a fresh high within the lookback window on the most recent bar, entirely consistent with today’s breakout, while Aroon Down at zero says sellers have gone completely silent — no new lows anywhere across the same window. The maximum-width separation between the two lines removes any internal conflict from the read; this is not a fledgling signal but a fully expressed one, and it corroborates the channel breakout, MA reclaim, and DI spread that precede it.

#5 Weekly Flag Pattern Breakout Above Key MAs: Zooming out, the weekly chart shows a textbook bull flag resolved to the upside. The “pole” is the vertical Aug 2025–Feb 2026 rally that carried B from ~$16 to ~$52 — a roughly 3x move in six months. The “flag” is the orderly, downward-sloping consolidation that followed inside a tight pink channel from February through mid-August, giving back a portion of the pole while never threatening the larger uptrend. Price has now broken decisively above the flag’s upper boundary this week on a +14.42% weekly gain, with the close at $47.60 sitting comfortably above both the 50-week SMA ($40.54) and the 200-week SMA ($23.56). Because flags are continuation patterns, the breakout argues the parent uptrend is resuming — and when the weekly structure agrees with the daily channel breakout in Signal #1, the multi-timeframe confluence carries more weight than either would alone.

B – Weekly Chart

#6 Bullish RSI (Weekly): Weekly RSI reads 61.31 with its signal line at 48.74 — a two-part confirmation worth unpacking. First, the cross back above 50 marks the formal momentum handoff from sellers to buyers on the higher timeframe; on a weekly chart, the 50-line is the momentum equator, and clearing it flips the durable read from bearish to bullish. Second, the continued upslope — with RSI still well shy of the 70 overbought threshold — tells us the move has runway before momentum becomes a headwind rather than a tailwind. That gap between the current reading and the 70 line is the operative point: buyers have taken control without yet exhausting themselves.

#7 Bullish MACD (Weekly): On the weekly, the MACD line (0.5455) has crossed above its signal line (0.3856) with both lines now firing just above the zero line — the highest-quality version of this signal. Crossovers that occur deep in negative territory are directionally correct but early and noisy; crossovers that fire well above zero simply confirm a trend already visible on the chart. A cross firing right at the zero line, with the histogram flipping positive as price breaks out of the weekly flag, tends to mark the start of sustained trend legs rather than the middle of one. Stacked against the weekly RSI turning up from 50 (Signal #6), both weekly momentum reads are pointing the same direction — and both are corroborating rather than diverging from the price action.

Risks to Consider

Even strong setups can fail, especially in a commodity-linked stock like Barrick Mining. A few things could knock the stock off course:

• The breakout could fail. If B fails to hold above the breakout level and closes back below the $44.00 stop, the descending-channel escape would be invalidated and the technical thesis would break down.
• Broader market weakness, a sudden risk-off move, or unexpected negative company or sector news could pressure the stock regardless of the setup’s quality.
• The whole thesis is levered to commodity prices. A meaningful pullback in gold from current $4,600+/oz levels — or a drop in copper — would compress the margin story that’s driving cash flow.
• Cost inflation is real. Q2 cost of sales rose 20% year-over-year to $1,993 per ounce, and AISC increased 11% to $1,866 per ounce. If commodity prices soften while costs stay elevated, margin compression could accelerate quickly.
• Free cash flow squeezed. Attributable free cash flow actually declined 33% year-over-year in Q2 due to timing effects and heavy capital spending — a reminder that headline earnings and cash generation can diverge in capital-intensive businesses.
• Geopolitical and operational risk. Barrick operates across Africa, Pakistan (Reko Diq), and other jurisdictions where regulatory, security, and political conditions can shift quickly. Prior Mali-related items impacted some free-cash-flow comparisons.
• IPO execution risk. The North American spin-off is a major catalyst, but valuation, market conditions, and structural details could all disappoint if the market backdrop cools by year-end.
• Competition. Barrick competes with Newmont, Agnico Eagle, and other major gold miners for reserves, capital, and investor attention — persistent underperformance vs. peers could weigh on relative valuation even in a strong gold tape.

The Bottom Line

B has broken out of a six-month descending channel on the daily chart while simultaneously resolving a textbook bull flag to the upside on the weekly — a dual-timeframe technical setup that historically signals the start of a sustained move higher. The fundamental story underneath the chart is just as strong: a landmark $1.95 billion strategic deal with Newmont, a Q2 revenue and production blowout, and an aggressive $1.2 billion in quarterly buybacks. With multiple catalysts staggered through the balance of 2026 — the North American IPO in Q4, another sequentially stronger production quarter due in November, and a dividend just around the corner — B looks like one of the more compelling risk-reward setups on the board right now.

If this is a trade you want to get in on, here’s how we’d play it. Below you’ll find our exact entry level, both price targets that imply 15%–25% potential upside, and the stop-loss we’re using to manage the downside.

Recommended Trade Setup

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For a risk of approximately $4.00 per share, the target rewards are about $7.00 and $12.00 per share. That makes this roughly a 1:2 and 1:3 risk-reward trade. In other words, the setup offers nearly 2x to 3x more potential upside than downside.

Note on Trade Invalidation: This recommendation stays active as long as the technical structure holds. If B drops to or below the $44.00 stop-loss before the $48.00 entry triggers, the trade is automatically void — the support underpinning the thesis would have broken, and the risk-reward setup would no longer justify entry.

Happy Trading!

Tara and Greg