10:59 AM EDT, 09/25/2025 (MT Newswires) -- RBC Capital Markets Thursday assessed valuation trends for the broader gold equity sector amid surging gold prices.

Despite recent substantial relative outperformance, Barrick Mining ( B ) shares still trade at a larger discount compared to peers, RBC said.

The company's shares trade at premium now to 12-month trailing valuation, but this is less relevant given recent development at the Fourmile project and a reduction of value previously attributable to the suspended mine in Mali, which was historically an overhang, RBC said.

Meanwhile, companies including Agnico Eagle (AEM.TO), Newmont ( NEM ) and Wheaton Precious Metals ( WPM ) have underperformed peers recently and are beginning to screen slightly more attractive on a relative basis, RBC said.

Nonetheless, following broader sector valuation expansion, shares are trading in line with 12-month trailing valuation, RBC added.

Osisko Gold Royalties Ltd (OR.TO) is among the gold companies with notable valuations, RBC said.

Price: 52.21, Change: +0.94, Percent Change: +1.83