Barrick Gold Corporation GOLD

Competitive advantage analysis · basic-materials

Corporate Default
Overall moat score
46/100
Developing

Ranked against 48 peers in Gold

About Barrick Gold Corporation

Gold.com, Inc., together with its subsidiaries, operates as a precious metals company. It operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins. This segment also offers complementary services, such as receiving, … Full GOLD analysis →

Key strengths

  • Margins Stable Across Cycles Operating margin volatility is low (stability score 1.00), demonstrating pricing resilience across cycles.

Key risks

  • Scale Without Profitability Despite scale, profitability lags peers (score 0.25), suggesting limited competitive advantage.
  • Revenue Volatility Signals Weak Stickiness Revenue volatility is high (stability score 0.33), suggesting weak customer stickiness.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
48
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where GOLD ranks in Gold

Barrick Gold Corporation ranks #26 of 49 scored companies in Gold by moat score — the top 53%. The widest moat in the group is Agnico Eagle Mines Limited (AEM) at 78/100.

# Company Moat score Rating
22 Iamgold Corporation IAG 56/100 Moderate
23 SSR Mining Inc. SSRM 49/100 Developing
24 New Gold Inc. NGD 48/100 Developing
25 TRX Gold Corporation TRX 47/100 Developing
26 Barrick Gold Corporation GOLD 46/100 Developing
27 Equinox Gold Corp. EQX 45/100 Developing
28 Gold Royalty Corp. GROY 44/100 Developing
29 International Tower Hill Mines, THM 42/100 Developing
30 Aris Mining Corporation ARMN 42/100 Developing

See every Commodities & Mining company ranked by moat score →

How GOLD scores on the Corporate Default defenses

Pricing Power

Score 48 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 65 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 38 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 52 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 48 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 23 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding GOLD's moat

What is Barrick Gold Corporation's moat score?

Barrick Gold Corporation (GOLD) scores 46 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #26 of 49 scored companies in Gold, the top 53%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 48 companies in Gold. Its strongest defense is Cost Advantage (65/100) and its weakest is Scale & Market Position (23/100).

How does Barrick Gold Corporation compare with other Gold companies?

Barrick Gold Corporation ranks #26 of 49 scored companies in Gold by moat score. The widest moat in Gold is Agnico Eagle Mines Limited (AEM) at 78/100. The companies ranked closest are TRX Gold Corporation (TRX) at 47 just above it and Equinox Gold Corp. (EQX) at 45 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 48 companies in Gold. The defenses are then weighted to produce the overall score out of 100.

Why is Barrick Gold Corporation scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Barrick Gold Corporation?

The Corporate Default template measures 6 defenses, and GOLD scores: Pricing Power (48), Cost Advantage (65), Customer Stickiness (38), Capital Efficiency (52), Resilience (48), Scale & Market Position (23). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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