Barrick Pins Hopes On North American IPO With $3B Buyback – B Stock Edges Lower Pre-Market Despite Q1 Beat

• Barrick’s earnings of $0.96 per share for the first quarter easily beat consensus estimates of $0.81 per share.
• The gold miner approved plans to buy back up to $3 billion in shares at ‘prevailing market prices.’
• Barrick said it remains on track to meet its full-year 2026 guidance, reaffirming gold and copper production targets.

Barrick Mining Corp. (B) sparked a wave of investor enthusiasm on Monday after the gold mining giant unveiled a massive $3 billion share buyback program alongside stronger-than-expected first-quarter earnings.

The stock edged around 1% lower in pre-market trading, while B was also among the top trending tickers at the time of writing.

$3B Buyback Tied To Barrick’s North American IPO

Barrick said its board approved a plan to buy back up to $3 billion in company shares at “prevailing market prices.”

“This authorization is intended to return cash to shareholders at a time when Barrick sees exceptional value in its own shares, particularly in anticipation of the planned IPO of North American Barrick,” the company said.

Barrick first unveiled plans for the IPO last December, proposing the creation of North American Barrick, a new entity that would house its stakes in Nevada Gold Mines, Pueblo Viejo, and the wholly owned Fourmile project in Nevada.

Under the proposed structure, Barrick would offer only a minority stake to public investors while retaining majority control, with the IPO targeted for completion by the end of 2026.

B’s Q1 Beat Drives Optimism

While the company’s first-quarter (Q1) revenue declined 13% to $5.22 billion, it far exceeded Wall Street’s estimates of $4.84 billion, according to Fiscal.ai data. Its earnings of $0.96 per share also easily beat consensus estimates of $0.81 per share. Barrick also announced a dividend of $0.175 per share for Q1.

Barrick said it remains on track to meet its full-year 2026 guidance, reaffirming gold production targets of 2.90 million to 3.25 million ounces and copper output of 190,000 to 220,000 tonnes. However, cost sensitivity tied to oil prices, the miner added.

What Do Retail Traders Think Of B?

Retail sentiment for B on Stocktwits turned ‘extremely bullish’ from ‘bullish’ a day earlier, amid ‘high’ message volumes.

One bullish investor called it a “sick quarter.”

The stock has declined 1.4% lower so far in 2026.

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