Barrick Gets Newmont’s Green Light For Gold IPO – But B Stock Slides Premarket On Q2 Earnings Miss

B stock fell premarket after Barrick’s Q2 adjusted earnings missed estimates despite stronger-than-expected gold production.

• Barrick and Newmont reached a $1.95 billion agreement that resolves their Nevada Gold Mines dispute and clears the way for Barrick’s planned North American gold assets IPO.
• Barrick said it expects to complete the IPO by the end of 2026.
• Barrick reported second-quarter revenue of $5.29 billion, while adjusted earnings of $0.82 per share came in just below Street expectations of $0.84 per share.

Barrick Mining (B) moved closer to spinning off its North American gold assets IPO into a separate listed company after reaching a $1.95 billion agreement with Newmont (NEM) that also resolves all outstanding disputes surrounding their Nevada Gold Mines joint venture.

Barrick said it expects to complete the IPO by the end of 2026, with current CEO Mark Hill to take over the reins of the new company.

The win was, however, overshadowed in premarket trading after Barrick’s second quarter earnings came in below Wall Street expectations, despite a stronger-than-expected jump in gold production. 

Newmont, Barrick To Include Three Properties For The JV

Under the agreement, both miners will contribute previously excluded properties to Nevada Gold Mines (NGM). Barrick will add its Fourmile project, while Newmont will contribute its Fiberline and Mike developments.

NGM was created in 2019 when Barrick and Newmont combined their major Nevada operations into a single joint venture. Barrick owns 61.5% of NGM and serves as operator, while Newmont holds the remaining 38.5%.

“We are on track to complete the IPO of our North American gold assets by the end of this year. We are excited to launch a pure-play gold company with high-quality, long-life assets exclusively in low-risk jurisdictions. The cooperation agreement with Newmont expands the Nevada complex to nearly 100 million ounces, and the agreement gives us great flexibility and value,” Hill said.

Barrick Q2 Earnings Miss Estimates Despite Higher Gold Output

Separately, Barrick reported second-quarter revenue of $5.29 billion, topping Wall Street's $5.08 billion estimate, according to Fiscal.ai, while adjusted earnings of $0.82 per share came in just below expectations of $0.84 per share.

Gold production rose 11% sequentially to 796,000 ounces, exceeding the company’s guidance of 730,000 to 770,000 ounces, helped by a faster ramp-up at Loulo-Gounkoto in Mali and recovery at Pueblo Viejo in the Dominican Republic.

Barrick maintained its 2026 gold production guidance of 2.90 million to 3.25 million ounces and also declared a quarterly dividend of $0.175 per share.

B shares were down 4.5% in pre-market trading on Monday, on track to snap a five-session winning streak.

B Retail Bulls Eye $60

Despite the pre-market sell-off, retail sentiment surrounding B on Stocktwits turned ‘extremely bullish’ from ‘bullish’ over the past 24 hours, amid ‘extremely high’ message volumes.

One user said, “All things considered, this stock should be trading at least around the $60 level.”  This represents a 43% potential upside from current levels.

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The stock is down around 1% so far this year.

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