B (Barrick Mining) Cyclically Adjusted PB Ratio: (As of Sep. 22, 2026)

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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

B Barrick Mining Corp B
90 GF Score
Price $43.12
GF Value $33.93
Valuation Modestly Overvalued
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What is Barrick Mining Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Barrick Mining  (NYSE:B) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Barrick Mining Cyclically Adjusted PB Ratio Related Terms


Barrick Mining Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Barrick Mining's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Barrick Mining Cyclically Adjusted PB Ratio Chart

Barrick Mining Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.26 1.17 1.19 0.97 2.49

Barrick Mining Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.26 1.95 2.55 2.32 2.03

B vs NEM, AU, RGLD: Cyclically Adjusted PB Ratio Comparison

For the Gold subindustry, Barrick Mining's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Barrick Mining Cyclically Adjusted PB Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Barrick Mining's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Barrick Mining's Cyclically Adjusted PB Ratio falls into.


B
90GF Score
Barrick Mining Corp B
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Barrick Mining Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Barrick Mining's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Barrick Mining's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=22.389/133.5265*133.5265
=22.389

Current CPI (Jun. 2026) = 133.5265.

Barrick Mining Quarterly Data

Book Value per Share CPI Adj_Book
201609 8.412 101.765 11.037
201612 8.815 101.449 11.602
201703 9.474 102.634 12.326
201706 9.989 103.029 12.946
201709 9.933 103.345 12.834
201712 9.454 103.345 12.215
201803 9.622 105.004 12.236
201806 9.483 105.557 11.996
201809 9.152 105.636 11.568
201812 8.036 105.399 10.181
201903 10.446 106.979 13.038
201906 10.537 107.690 13.065
201909 15.975 107.611 19.822
201912 16.776 107.769 20.786
202003 17.072 107.927 21.121
202006 17.292 108.401 21.300
202009 17.802 108.164 21.976
202012 17.833 108.559 21.934
202103 18.038 110.298 21.837
202106 18.083 111.720 21.613
202109 18.035 112.905 21.329
202112 18.157 113.774 21.309
202203 18.336 117.646 20.811
202206 18.371 120.806 20.305
202209 18.335 120.648 20.292
202212 17.825 120.964 19.676
202303 17.601 122.702 19.154
202306 17.935 124.203 19.281
202309 18.056 125.230 19.252
202312 18.229 125.072 19.461
202403 18.351 126.258 19.408
202406 18.540 127.522 19.413
202409 18.819 127.285 19.742
202412 19.255 127.364 20.187
202503 19.520 129.181 20.177
202506 19.592 129.892 20.140
202509 20.099 130.287 20.599
202512 21.438 130.366 21.958
202603 21.947 132.262 22.157
202606 22.389 133.527 22.389

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Barrick Mining (B) Overvalued in 2026?

Based on GuruFocus' analysis, Barrick Mining stock appears to be overvalued. The current stock price of $43.12 is trading 27.1% above its estimated GF Value™ of $33.93. GuruFocus considers Barrick Mining to be Modestly Overvalued.

Key valuation signals for B:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $33.93 vs. price of $43.12 (27.1% above fair value)
  • GF Score™: 90/100

No single metric tells the full story. See the B stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Barrick Mining Business Description

Address 161 Bay Street, Suite 3700, P.O. Box 212, Brookfield Place, TD Canada Trust Tower, Toronto, ON, CAN, M5J 2S1
Based in Toronto, Barrick is one of the world's largest gold miners. In 2025, the firm sold about 3.3 million attributable ounces of gold and about 220,000 metric tons of copper. At end-2025, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure, driven by the expansion of its Lumwana mine in Zambia and the development of its Reko Diq copper and gold project in Pakistan. It intends to undertake an IPO of its joint venture stakes in Nevada Gold Mines and Pueblo Viejo along with its Fourmile deposit later in 2026.
90GF Score

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Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$43.12
Price
$33.93
GF Value