Barrick Gold Secures Key Assets and Investor Confidence

A significant overhang for Barrick Gold has been lifted, with the company resolving a protracted dispute concerning its operations in Mali. This development removes a major source of uncertainty that had weighed on investor sentiment for months. Concurrently, fresh regulatory filings reveal substantial new investments by several major funds, signaling strong institutional belief in the miner's prospects.

The most critical update involves Barrick's African portfolio. The company confirmed on Friday that it has officially regained full operational control over the crucial Loulo-Gounkoto gold complex following an agreement with the Malian government. As part of the settlement, Barrick will make a payment of $430 million to the state.

This resolution is pivotal. The previous ambiguity surrounding one of Barrick's cornerstone assets had acted as a persistent geopolitical discount on the stock. By securing long-term access to these essential production sites, the company stabilizes its footing in the region and creates clear operational visibility for future financial years. Market experts view this as the elimination of a substantial risk premium.

Institutional Investors Place Major Bets

Filings dated December 19, 2025, underscore a notable surge in activity from professional money managers. The most striking move came from Crocodile Capital Partners GmbH. The fund established a new position in the third quarter, purchasing 1,569,973 shares valued at approximately $51.45 million. This single holding now constitutes nearly 41.9% of the fund's entire portfolio—an allocation that demonstrates an exceptionally high conviction in the stock's potential.

Other market participants also increased their exposure during the recent period:
* Pacifica Partners Inc. initiated a new position, acquiring just over 150,000 shares.
* Patriot Financial Group added to its holdings, purchasing more than 56,000 additional shares.
* Systrade AG now lists Barrick as its largest portfolio position in its latest disclosure.

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

While there were sellers, such as Phraction Management LLC, the aggressive buying behavior from firms like Crocodile Capital suggests sophisticated investors see further upside now that regulatory hurdles have been cleared.

Strong Fundamentals Support the Rally

The interest from major investors is backed by robust operational performance. For the third quarter, Barrick reported earnings per share (EPS) of $0.58, surpassing consensus estimates of $0.57. Revenue saw a year-over-year increase of 23.2%, reaching $4.19 billion. This operational efficiency is benefiting shareholders directly; the company raised its quarterly dividend, which now implies an annualized payout of $0.70 per share.

The market is responding positively to this combination of reduced political risk and financial strength. The stock reached a new 52-week high of €37.35 on Friday. Since the start of the year, the share price has more than doubled, recording a gain exceeding 140%.

The outlook for 2026 appears highly favorable for the mining giant. With the gold price trading at historic highs in late 2025 and the situation in Mali now resolved, management can refocus entirely on production and margin optimization. The extraordinarily heavy weighting of Barrick shares in certain fund portfolios indicates that institutional investors likely view the end of political uncertainty as the beginning of a comprehensive re-rating for the company.