Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Gold At 4,500 USD/Oz: Seven Ideas To Look At In the Gold Space

Gold Price Correction: Six Stocks That Are Dirt Cheap

Gold At 4,000 USD/Oz: Valuation Update Of Our Six Top Picks

Barrick Gold (B US): An Option For Investors Looking At Diversified Asset, Large-Cap Gold Exposure

Apex Mining (APX PM): Cheap Play On Gold, With Massive Growth Angle

Comparative Valuation & Gold Price Sensitivity Analysis of Four Gold Stocks

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

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Revenue / Profit Growth: Revenue +67% YoY to $5.2B; adj. net earnings +173% to $1.65B driven by a 66% higher realized gold price ($4,823/oz) and tight cost discipline.</li>
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North American Barrick IPO: IPO on track for year-end 2026 (late-summer filing, fall public access); minority stake covering NGM, Pueblo Viejo, and Fourmile to list on NYSE and TSX.</li>
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Valuation (FY26e at $45.85): P/E of 9.3x and EV/EBITDA of 4.4x, a material discount to senior gold peers, suggesting meaningful upside at current levels.</li>
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Revenue / Profit Growth: Revenue +67% YoY to $5.2B; adj. net earnings +173% to $1.65B driven by a 66% higher realized gold price ($4,823/oz) and tight cost discipline.

North American Barrick IPO: IPO on track for year-end 2026 (late-summer filing, fall public access); minority stake covering NGM, Pueblo Viejo, and Fourmile to list on NYSE and TSX.

Valuation (FY26e at $45.85): P/E of 9.3x and EV/EBITDA of 4.4x, a material discount to senior gold peers, suggesting meaningful upside at current levels.


Barrick Mining (B US): Solid Q1 FY26, NGM IPO On Track