Barrick Mining Stock Climbs Near 52‑Week High as Board Shake-Up, Mali Deal and Reko Diq Reassurances Dominate Headlines

Barrick Mining Corporation (NYSE: B, TSX: ABX) extended its powerful 2025 rally on Wednesday, with investors digesting a fresh board change, a landmark settlement in Mali, and renewed assurances on the giant Reko Diq copper project in Pakistan — all against the backdrop of record-breaking gold prices.

Barrick Mining stock price today (NYSE: B, TSX: ABX)

On Wednesday, November 26, 2025, Barrick Mining’s New York–listed shares traded around $40.60, up roughly 3.8% on the day and sitting right at the upper end of their 52‑week range of $15.11–$40.69. Daily volume was close to 19 million shares, above the three‑month average, underlining strong interest in the name. ^[1]

Key snapshot for NYSE: B today: ^[2]

Last price: ~$40.6
Day’s range: ~$39.4–$40.7
Previous close: $39.12
1‑year performance: +121%
Market cap: about $68.6 billion
Dividend (annualised): about $0.70 per share, implying a yield near 1.8% at today’s price

In Toronto, TSX: ABX traded around C$56, with quotes showing the stock near its own 52‑week high after spiking in response to the Mali settlement earlier in the week. ^[3]

According to Simply Wall St, Barrick’s share price is now up about 139.8% year‑to‑date and 127.7% over the past 12 months, putting it among the standout performers in global large‑cap mining. ^[4]

Fresh board shake‑up adds to leadership transition story

Before the opening bell, Barrick announced that Ben van Beurden has stepped down as a Director and Lead Independent Director. Loreto Silva, already a non‑executive director, has been appointed as the new Lead Independent Director. ^[5]

In a statement, Chairman John Thornton thanked van Beurden for his service and emphasised that the board remains focused on “delivering long‑term value for shareholders” and executing on Barrick’s global gold and copper strategy. ^[6]

Reuters notes that the board move comes amid a broader leadership transition: Barrick is currently led by interim CEO Mark Hill, following the abrupt departure of long‑time CEO Mark Bristow earlier this year. The search for a permanent chief executive is ongoing and is being closely watched by investors, especially with activist pressure and strategic options — including a potential break‑up of the company — on the table. ^[7]

For governance‑focused investors, today’s board reshuffle adds another piece to a fast‑moving corporate‑strategy puzzle.

Mali settlement: Loulo–Gounkoto dispute resolved, production reboot in sight

One of the biggest drivers behind Barrick’s recent share price strength is the resolution of its high‑stakes dispute with the government of Mali.

A Bloomberg/Reuters‑syndicated report published today via ClaimsJournal says Barrick has agreed to pay 244 billion CFA francs (about $430 million) to settle a two‑year conflict that had effectively shuttered the Loulo–Gounkoto gold complex, one of the company’s most important assets. Under the deal: ^[8]

Barrick regains full operational control of Loulo–Gounkoto.
Mali drops charges against Barrick, its affiliates and employees, and moves to release jailed staff.
Barrick accepts Mali’s tougher 2023 mining code, and the Loulo permit is extended by 10 years.
State provisional control of the mine ends, allowing normal operations to resume.

Analysts at BMO estimate that if production restarts quickly, Loulo–Gounkoto could produce around 670,000 ounces of gold next year, generating roughly $1.5 billion in operating cash flow. ^[9]

Kalkine Media’s coverage today highlights how the settlement and restored control of Loulo and Gounkoto have been key catalysts for Barrick’s share price and for its role in the S&P/TSX Composite Index, which Barrick helps anchor. ^[10]

For investors, the Mali resolution removes a major overhang:

It reduces legal and political risk in a key jurisdiction.
It restores a large, high‑margin production base just as gold prices surge.
It strengthens Barrick’s hand in ongoing strategic reviews, including any potential corporate split.

Reko Diq: Reassurances on a $7 billion copper‑gold giant

If Mali was the short‑term flashpoint, Reko Diq is the long‑term lightning rod.

After weeks of media reports that Barrick’s board was weighing a two‑entity split, potentially including an outright sale of Reko Diq and some African assets, investors were looking for clarity. Reuters reported earlier this month that the board had discussed separating the business into a North America–focused company and an Africa/Asia‑focused company, with Reko Diq possibly on the block. ^[11]

Today, that narrative was partially countered. In a Reuters interview picked up globally and echoed in Pakistan’s Daily Times, interim CEO Mark Hill stressed that Barrick “remains committed to the Reko Diq project and to Pakistan.” ^[12]

Key Reko Diq details reiterated today: ^[13]

Project size: about $7 billion capex, 50/50 joint venture with Pakistan.
Status: one of the world’s largest undeveloped copper‑gold deposits.
Timeline: first production targeted for end‑2028.
Expected output: ~200,000 tonnes of copper per year in Phase 1, with the potential to double later.
Reserves impact: added about 13 million ounces of gold to Barrick’s reserves in 2024.
Economics: projected to generate over $70 billion in free cash flow over a 37‑year mine life.
Financing: lenders including the IFC and Asian Development Bank are assembling more than $2.6 billion in project financing.

The Daily Times notes that Hill’s comments directly address fears that Reko Diq could be sacrificed in a break‑up or asset‑sale scenario, and emphasise the project’s strategic importance both to Barrick and to Pakistan’s effort to attract foreign investment. ^[14]

For Barrick shareholders, Reko Diq is a double‑edged sword: it offers decades of copper‑linked growth, but also concentrates risk in a region with security and infrastructure challenges. Today’s reaffirmation signals that, for now, management sees the project as central rather than expendable.

Analyst reaction: TD Cowen, Cormark and a bullish Street consensus

The flood of company‑specific news has been met with a notably bullish sell‑side response.

TD Cowen this morning reiterated its Buy rating on Barrick Mining with a $46 price target, calling the stock one of its “Best Ideas 2026”. ^[15]

According to Investing.com’s summary of the note, TD Cowen argues that: ^[16]

Barrick trades at a discount to peers that the firm views as unwarranted.
There is “significant value to unlock” through potential portfolio streamlining or reorganisation, higher capital returns, and a sharper focus on North America.
Barrick’s perfect Piotroski score of 9 and robust share buybacks underline balance‑sheet strength and management confidence.
Upside from Nevada operations and the Fourmile discovery is not fully reflected in current pricing.

Separately, a MarketBeat piece today highlights that Cormark has nudged its FY2025 EPS forecast for Barrick up to $2.38 per share (from $2.35) while maintaining a “Moderate Buy” view. Street‑wide, the consensus full‑year earnings estimate remains around $1.47 per share, suggesting meaningful expected growth ahead. ^[17]

That same report notes that, across coverage, Barrick currently carries: ^[18]

2 Strong Buy ratings
14 Buy ratings
2 Hold ratings

for an overall “Buy” consensus and an average price target of roughly $44.78, modestly above today’s level.

Valuation perspective:

A fresh Simply Wall St analysis out today frames Barrick as still undervalued despite its near‑140% year‑to‑date surge. Their discounted cash‑flow work suggests fair value far above the current price, and they also note Barrick’s price‑to‑earnings multiple (~19x) is below many global mining peers when adjusted for growth. ^[19]

AI and quant models flag Barrick as a top‑ranked pick

Beyond traditional analysts, AI‑driven rating tools are also leaning bullish.

Danelfin’s latest update (dated today) shows Barrick Mining with one of the highest AI Scores in its sector, ranking among the top US‑listed “Machinery/Industrials” names in its framework and identifying the stock as a potential market‑beater over the next few months. ^[20]

The platform cites factors such as: ^[21]

Strong balance sheet and low leverage
High‑quality, long‑life asset base
Diversified geographic footprint (albeit with elevated geopolitical risk)
Robust profitability metrics (EBITDA, margins, and returns on capital)

While AI scores should never replace independent research, they reinforce the picture emerging from human analysts: Barrick is viewed as a high‑quality, cash‑generative miner still trading below some models of intrinsic value.

Gold and silver at record levels: powerful tailwind for Barrick

The macro backdrop for a large gold and copper producer could hardly be more favourable.

MarketMinute/ChronicleJournal reports that gold prices today are hovering around $4,100–$4,200 per ounce, near a two‑week peak, as softer U.S. economic data fuels expectations of an imminent Federal Reserve rate cut. ^[22]

In a separate piece, the same outlet notes that both gold and silver have surged to unprecedented record highs, with gold recently topping $4,380 per ounce and silver touching about $54.5 per ounce on heightened global uncertainty and inflation worries ahead of the Fed’s December decision. ^[23]

For Barrick, this environment matters because:

It is one of the largest gold producers in the world and the largest in the United States, with six Tier One gold mines in its portfolio. ^[24]
Higher gold prices typically drop straight through to cash flow at established operations like Nevada Gold Mines, Loulo–Gounkoto, Pueblo Viejo, and North Mara. ^[25]
Elevated precious‑metal prices can improve project economics for copper‑gold projects like Reko Diq, especially when by‑product gold credits offset copper costs. ^[26]

In short, Barrick is hitting operational and strategic milestones just as its core commodities move into super‑strong pricing territory.

Dividend and capital returns: ex‑dividend date just ahead

Income‑oriented investors have another date circled on the calendar.

Barrick’s official dividend schedule shows a record date of November 28, 2025 and a payment date of December 15, 2025 for its next regular cash dividend of $0.175 per share. ^[27]

A Nasdaq ex‑dividend reminder published today points out that: ^[28]

Barrick shares go ex‑dividend on November 28, 2025.
The $0.175 quarterly payout equates to an annualised yield of roughly 1.8% at recent prices.
All else equal, the stock would be expected to open about 0.45% lower on ex‑dividend day to reflect the cash distribution.

Since 2022, Barrick has also operated a performance‑linked dividend policy, which allows for higher quarterly distributions when net cash on the balance sheet exceeds set thresholds. ^[29]

Combined with ongoing share buybacks referenced in TD Cowen’s report, the company is clearly signalling that cash returns to shareholders are a core pillar of its capital‑allocation strategy. ^[30]

Key risks and what investors will watch next

Despite today’s strong tape and a wave of positive headlines, Barrick Mining is not without risk. Major themes to monitor:

Strategic split decision: Multiple Reuters and industry reports confirm that the board is actively evaluating a two‑entity break‑up into North American and international businesses. The outcome — and whether crown‑jewel assets like Reko Diq or parts of the African portfolio are sold — will have a significant impact on valuation and risk profile. ^[31]
Geopolitical exposure: Mali, Pakistan and other jurisdictions present ongoing security, regulatory and community‑relations challenges, even after headline deals are signed. ^[32]
Gold and copper price volatility: Today’s record‑high prices are a tailwind, but any sharp reversal in gold, silver or copper could pressure margins and sentiment. ^[33]
Leadership stability: With an interim CEO in place and today’s board reshuffle, investors will be looking for clarity on long‑term leadership and strategic direction. ^[34]

Near‑term, the next major catalysts for Barrick shares are likely to be:

Any formal announcement on a corporate split or portfolio restructuring
Updates on the Loulo–Gounkoto restart schedule and production guidance
Progress on Reko Diq financing and construction milestones
The Fed’s December rate decision and its impact on precious‑metal prices

Bottom line

On November 26, 2025, Barrick Mining’s stock is trading near record highs after a year‑long surge, powered by:

A resolved Mali dispute and the impending restart of a key gold complex
Reaffirmed commitment to Reko Diq, one of the world’s most important copper‑gold growth projects
A board reshuffle and active strategic review that could restructure the company
Record or near‑record prices for gold and silver, boosting cash‑flow potential
A supportive analyst and AI‑model backdrop with Buy ratings and upside‑skewed targets

For investors following gold miners, Barrick has moved firmly back into the global spotlight. Whether today’s optimism leads to further gains will depend on how management navigates its strategic crossroads — and on whether the gold rally has more room to run.

Note: This article is for informational purposes only and does not constitute financial advice, investment recommendation, or a solicitation to buy or sell any security. Always do your own research or consult a licensed financial adviser before making investment decisions.

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