Barrick Gold Considers North American Spin-Off to Unlock Value

Following a robust close to 2025, Barrick Gold is entering the new year with a clear strategic focus. Rather than resting on the laurels of last year's gold rally, the company's leadership is prioritizing aggressive value-creation measures. A potential initial public offering (IPO) for its North American gold assets is now at the forefront of investor discussions, a move that could fundamentally reshape the mining giant's valuation.

Significant momentum for this strategic shift comes from a crucial resolution in West Africa. In late December 2025, Barrick settled its disputes with the government of Mali, securing full operational control over the critical Loulo-Gounkoto complex. This agreement removes a major geopolitical overhang, allowing investors and management to concentrate fully on growth initiatives in core regions without distraction.

The Rationale for a Strategic IPO

The core proposal under evaluation involves spinning off a minority stake in Barrick's premium North American operations while the parent company retains majority control. The primary assets in focus are the "Nevada Gold Mines" joint venture and the Fourmile project. The objective is to highlight the latent value of these top-tier assets, which analysts have long argued are undervalued within Barrick's broader corporate structure.

Should investors sell immediately? Or is it worth buying Barrick Mining?

This strategic review aligns with broader market dynamics. Despite a remarkable 62 percent surge in the gold price during 2025—fueled by central bank purchases and geopolitical uncertainty—producer equities, including Barrick's, periodically lagged this performance. The proposed corporate action is seen as a direct effort to close this valuation gap.

Key Performance and Market Data:
* Financial Strength: The company demonstrated solid cash flow generation, reporting revenue of $4.19 billion for the third quarter.
* Analyst Sentiment: Major firms, including Raymond James and Jefferies, have recently reaffirmed their buy ratings, lifting their price targets to a range of $42 to $55.
* Recent Trading: Barrick shares concluded the first trading week of 2026 with a gain of 1.1 percent.

All eyes are now on February, when the market anticipates detailed timelines for the potential North American listing alongside the company's full-year results. Should management present a compelling roadmap and confirm production forecasts, the recent positive momentum in the stock stands a strong chance of continuing.