Barrick Gold Unveils Major Strategic Shift with Spin-Off and Enhanced Payouts

Barrick Mining CA0679011084

In a significant strategic move, Barrick Gold Corporation has announced a sweeping set of initiatives aimed at unlocking shareholder value, supported by robust full-year 2025 results. The announcements extend well beyond typical quarterly earnings, signaling a major pivot for the gold mining giant.

Investors are set to receive an immediate boost from a revised capital returns framework. The company has committed to distributing 50% of its attributable free cash flow to shareholders. Implementing this new policy, Barrick’s board has declared a fourth-quarter dividend of $0.42 per share. The record date for this payment is February 27, 2026, with a payout scheduled for March 16, 2026.

In a separate leadership decision, Mark Hill has been confirmed as the permanent Chief Executive Officer, providing continuity at the helm.

Core Strategy: A Planned North American Spin-Off

The centerpiece of Barrick’s new direction is a proposal to separate its North American gold assets into a new, publicly traded entity. This planned spin-off would include holdings such as the Nevada Gold Mines joint venture and the Fourmile project. While Barrick intends to retain a majority stake in the new company, the initial public offering (IPO) is designed to highlight the standalone value of these core assets for its equity holders.

Market analysts view the dual announcement of the spin-off and the increased dividend as a clear strategy to bolster the share price amidst ongoing commodity market volatility. The near-term dividend record date offers a specific incentive for investors to maintain their positions.

Key Financial and Operational Data:

• Q4 2025 Revenue: $6.0 billion.
• Earnings: Adjusted earnings per share of $1.04.
• Q4 Dividend: $0.42 per share (Payable: March 16, 2026).
• 2026 Gold Production Forecast: 2.9 to 3.25 million ounces (reflecting a slight decline due to the sale of two mines).
• 2026 Copper Production Forecast: 190,000 to 220,000 tonnes.

Production Outlook for the Coming Year

Looking ahead to 2026, the company’s operational forecast appears somewhat more conservative. Gold production is projected to experience a modest decrease, guided in a range between 2.9 and 3.25 million ounces, a result of the recent divestiture of two mining operations. Copper output for the year is anticipated to be between 190,000 and 220,000 tonnes.