IFC
Financially intact (TSX:IFC) fits that profile because insurance never goes away. It operates a large property and casualty platform in Canada, plus sizeable businesses in the United States and the United Kingdom. It collects the premiums up front, pays the claims later and invests the balance in between. This structure rewards stable pricing and tight risk selection.
TSX shares are on the move, but the company has remained steady. Over the past year, the shares are up 9%, but after falling earlier this year, they are back up 12% since October. Investors worry about storms, claims and interest rate trends, but Intact still benefits from scale, data and distribution that smaller insurers can’t easily match.
The third quarter of 2025 put some meat on the bones. Intact delivered net operating income per share of $4.46 and diluted earnings per share (EPS) of $4.73, and a combined ratio of 89.8%. Book value per share reached $103.16, up 14% year over year, and the board declared a quarterly dividend of $1.33 per share. It also looks valuable, trading at around 17 times earnings, with a 2% yield. Management said it still targets annual net operating income per share growth of 10% and 500 basis points of return on equity outperformance over the next decade. Claims inflation and severe weather can still hurt results, so you have to accept the occasional ugly quarter.
ABX
Barrick Mining (TSX:ABX) brings a different kind of sustainability. It manages a global gold and copper portfolio and converts ore into cash flow if production remains on schedule and commodity prices cooperate. Gold often helps when investors feel uneasy, while copper aligns with electrification and data center demand.
The TSX stock can swing hard, which comes with the territory. The shares have risen by as much as 192% in the past year, along with the price of gold. That range can punish short-term trading, but it can also create attractive entry points for patient buyers. Commodity stocks rarely feel comfortable when you should be buying them.
The third quarter of 2025 showed why the market was paying attention. Barrick reported revenues of $4.1 billion, operating cash flow of $2.4 billion and free cash flow of $1.5 billion. Net income was $1.3 billion, or $0.76 per share, and adjusted net income was $982 million, or $0.58 per share. Barrick increased its base quarterly dividend by 25% to US$0.125 per share and added a US$0.05 performance dividend, for a total of US$0.175 in the quarter. The company repurchased $1 billion worth of stock last year and expanded its buyback program by $500 million to $1.5 billion.
Additionally, it offers a dividend yield of 1.5%, which trades at 23 times earnings. Barrick kept full-year 2025 guidance unchanged, expecting gold production of 3.15 to 3.50 million ounces and copper production of 200,000 to 230,000 tonnes. Gold price fluctuations and country risk are still lurking, so patience and position discipline are needed.
In short
Together, IFC and ABX cover a large area of twenty years. Intact can be strengthened by underwriting discipline and steady premium growth, while Barrick can make a positive contribution as uncertainty increases and copper demand accelerates. You don’t need perfection every quarter. You just need sustainability and a cash flow that keeps showing up, and then you need the discipline to persevere. When you reinvest dividends, you convert volatility into more shares, which can make the next decade much easier.
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