Barrick Gold Clears Major Obstacle as Bullion Rally Continues

Barrick Gold is capitalizing on an exceptionally favorable market environment. The price of gold continues to set new records, having recently surpassed the $4,800 per ounce threshold. Concurrently, the mining giant has resolved a significant source of uncertainty by settling a dispute in Mali. With its share price having surged more than 177% over the past twelve months, investors are questioning whether this marks the start of a new growth phase or if the valuation has already peaked.

The broader economic landscape is providing a powerful boost to the company's fundamentals. Analysts at Goldman Sachs have raised their year-end 2026 price target for gold to $5,400 per ounce, citing ongoing geopolitical tensions and a shift by private investors toward diversifying into precious metals. For Barrick, this price strength translates directly to the bottom line. With production costs expected to remain stable in the near term, nearly every incremental dollar in the gold price expands the company's profit margins.

Settlement in Mali Removes a Key Overhang

A persistent conflict with the government of Mali, which had weighed on the stock, has now been concluded. Through a settlement valued at approximately $430 million, Barrick regains full operational control of the Loulo-Gounkoto mining complex. Furthermore, the company will receive a restitution of roughly three tonnes of gold.

Market observers view this development as critical. The geopolitical discount that previously pressured Barrick's valuation has been eliminated. Stabilizing operations at one of its most important African sites significantly enhances planning certainty for the business and its investors.

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

Management Shift Hints at Strategic Pivot

A forthcoming change in Barrick's executive team is also drawing attention. Helen Cai is set to assume the role of Chief Financial Officer on March 1, 2026. Her appointment is notable: Cai brings over two decades of experience, with a particular focus on mergers and acquisitions (M&A). Industry experts interpret this personnel move as a potential signal that Barrick may leverage the current high-price environment to pursue a more aggressive acquisition strategy.

Valuation Divergence and Upcoming Catalyst

Despite the powerful rally—shares currently trade at €42.10, just shy of their 52-week high of €42.88—opinions on the stock's valuation are mixed. Some analytical models suggest the equity may be overvalued, while other calculations indicate there could still be substantial upside potential.

All focus now turns to February 5, 2026. On this date, Barrick will release its fourth-quarter and full-year financial results. This report is anticipated to provide crucial guidance on the production forecast for 2026 and reveal how quickly the normalization of operations in Mali is reflected in the company's financial performance.