4500美元/盎司的保守金价假设编制的。综合全球货币环境与通胀预期，EasyMarkets易信认为，随着矿 业巨头通过IPO和高额派息强化资本回报，黄金板块的价值重估进程将伴随金价的长牛走势而继续深 化。 新浪合作大平台期货开户 安全快捷有保障 新浪合作大平台期货开户 安全快捷有保障 2月6日，去年第四季度黄金价格的爆发式增长，不仅重塑了贵金属市场的估值逻辑，也直接推动了全球 第二大金矿商巴里克黄金的业绩冲向顶峰。EasyMarkets易信认为，矿业巨头利润的超预期增长是金价 进入"抛物线阶段"的直接体现。数据显示，该公司第四季度运营现金流达到27.3亿美元，自由现金流为 16.2亿美元，环比增幅分别录得13%和9%。在EasyMarkets易信看来，这种历史性的盈利水平不仅得益 于金价在高位的强劲支撑，也反映了资深生产商在成本波动环境下的卓越运营韧性。 从生产运营细节来看，巴里克在2025年结束之际表现稳健，第四季度黄金产量升至87.1万盎司，铜产量 则增长13%至6.2万吨。尽管全年黄金总产量326万盎司略低于上年，但EasyMarkets易信表示，实现价格 的走高成功抵消了特许权使用费及通胀带来的成本压 ...

2月6日，在全球矿业资源价值重塑的浪潮下，巴里克黄金公司近期披露的北美资产独立上市计划成为了 市场的焦点。RYOEX认为，这一战略举措标志着矿业巨头正在通过更灵活的资本运作模式来应对复杂 的市场估值环境。根据授权，管理层已着手筹备新实体（NewCo）的IPO，该实体将集合内华达金矿及 普韦布洛维耶荷等顶尖资源。 从资产配置的角度来看，RYOEX表示，将最优质的北美黄金资产进行独立IPO，能够有效地消除大型跨 国企业的"多元化折价"。分析显示，即便在分拆之后，巴里克母公司仍计划保留控股权，这意味着在实 现估值溢价的同时，核心运营的稳定性将得到延续。这种资本运作手段在当今资源稀缺的背景下显得尤 为明智。 在管理层看来，此举的核心逻辑在于实现股东价值的最大化。首席执行官马克·希尔表示，分拆决定是 基于深度财务审查后的结果，旨在不牺牲运营纪律的前提下，让市场更清晰地审视北美业务的盈利潜 力。RYOEX认为，通过这种垂直化的资产梳理，巴里克不仅能优化区域管理结构，还能在提升安全性 与运营效能方面获得更大的操作空间。 市场分析机构杰富瑞对此也持正面态度，认为董事会的决定为估值上修亮起了绿灯。RYOEX通过数据 观察到，巴 ...

Gold.com (GOLD) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.7 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +30.00%. A quarter ago, it was expected that this precious metals trading company would post earnings of $0.86 per share when it actually produced earnings of $0.2, delivering a surprise of -76.74%.Over the last four quart ...

Tether gold Stablecoin issuer Tether is deepening its exposure to gold with a $150 million investment in Gold.com, Inc. (NYSE: GOLD), according to an announcement on Thursday. Tether has agreed to initially purchase approximately $125 million worth of GOLD common shares and an additional $25 million upon regulatory approval, the firm said. The stablecoin issuer will be allowed to nominate a Gold.com board member. "The Investment establishes a strategic partnership designed to bridge physical precious meta ...

Transaction represents investment with Tether acquiring 3.371 million Common Shares at an issue price of $44.50 Gold.com will invest $20 million in Tether’s XAU₮ stablecoin COSTA MESA, Calif., Feb. 05, 2026 (GLOBE NEWSWIRE) -- Gold.com, Inc. (NYSE: GOLD) (“Gold.com” or the “Company”), a fully-integrated alternative assets platform offering an extensive range of precious metals, numismatic coins, and collectibles, announced today that it has entered into a definitive agreement with TPM, S.A. de C.V., (“Tethe ...

Q2 FY 2026 Diluted Earnings Per Share of $0.46 $11.6 Million in Net Income and $33.9 Million in non-GAAP EBITDA in Q2 FY 2026 Company Announces Quarterly Cash Dividend Completes Rebrand to Gold.com and Transition to New York Stock Exchange (NYSE: GOLD) COSTA MESA, Calif., Feb. 05, 2026 (GLOBE NEWSWIRE) -- Gold.com, Inc. (NYSE: GOLD), (“Gold.com” or the “Company”), a fully integrated alternative assets platform that offers an extensive range of precious metals, numismatic coins, and collectibles to consume ...

Neils ChristensenNeils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @Neils_cShareDisclaimer: The views expressed ...

Financial Data and Key Metrics Changes - The company achieved record financial results in Q4 2025, with a 45% increase in revenues from Q3, driven by increased production and a 21% rise in realized gold prices [9][10] - Net earnings nearly doubled from the prior quarter, and the company reported record quarterly cash flow, free cash flow, earnings per share, and a cash balance [9][10] - For the year, cash flow from operations reached $7.7 billion and free cash flow was $3.9 billion, up 71% and 194% year-over-year, respectively [10][11] - The company ended the year with a net cash position of $2 billion, indicating a strong balance sheet [11] Business Line Data and Key Metrics Changes - Gold production increased by 5% from Q3, with a full-year total of 3.26 million ounces, aligning with guidance [7][22] - Copper production rose by 13% from Q3, driven by higher throughput at Lumwana [7] - The company restructured its business units, placing key processing facilities under common leadership to enhance operational efficiency [7] Market Data and Key Metrics Changes - The company reported a significant increase in EBITDA, with a 53% rise compared to the prior quarter, reflecting higher margins due to the increased gold price [11] - The company anticipates gold production in 2026 to be between 2.9-3.25 million ounces, with expectations of higher production in the latter half of the year [22] Company Strategy and Development Direction - The board has decided to prepare for an initial public offering (IPO) of Barrick's North American gold assets, targeting completion by late 2026 to maximize shareholder value [4][25] - The company is focusing on operational discipline and safety as top priorities, with plans to adjust remuneration frameworks to attract and retain talent [17][5] - The company aims to maintain a strong focus on high-quality assets and will continue to invest in gold while divesting non-core assets [102] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production guidance for 2026, citing a strong start to the year and improved operational performance [15][22] - The company is committed to safety and health, emphasizing the need for improvement following past incidents [5][6] - Management acknowledged challenges in attracting and retaining talent but is implementing changes to address these issues [17] Other Important Information - The company has a robust reserve and resource base, with attributable proven and probable gold reserves totaling 85 million ounces [24] - The new dividend policy targets a payout of 50% of attributable free cash flow, with a significant increase in the quarterly dividend [12][13] Q&A Session Summary Question: IPO potential and strategic value - Management believes a partial IPO of North American assets will unlock more value than a full separation, as the current portfolio is undervalued [30][32] Question: Intended proceeds from the IPO - The specifics of the intended proceeds will be determined as part of the preparation work for the IPO [34][36] Question: Reko Diq financing status - Management is reviewing the security situation in Balochistan before proceeding with financing [39] Question: Changes in mine plans and guidance - The company has conducted a comprehensive review of mine plans, leading to more confidence in production delivery [43][46] Question: Importance of Veladero asset - Veladero is considered a core asset and has not been explored for divestiture [56][57] Question: Recovery rates at PV - The company is targeting a recovery rate of 84%, with ongoing efforts to optimize stockpile blending [62][64] Question: Cost outlook post-2026 - Management indicated that costs are expected to remain flat, without providing specific guidance [92][93]

Financial Data and Key Metrics Changes - Barrick achieved record financial results in Q4 2025, with revenues increasing by 45% from Q3, driven by higher production and a 21% increase in realized gold prices [10] - Net earnings nearly doubled from the prior quarter, and the company reported record quarterly cash flow, free cash flow, earnings per share, and cash balance [10][11] - For the year, cash flow from operations reached $7.7 billion and free cash flow was $3.9 billion, up 71% and 194% year-over-year, respectively [11][12] - The company ended the year with a net cash position of $2 billion, indicating a strong balance sheet [12] Business Line Data and Key Metrics Changes - Gold production increased by 5% from Q3, with a full-year total of 3.26 million ounces, aligning with guidance [8][23] - Copper production rose by 13% from Q3, driven by higher throughput at Lumwana [8] - The operational review led to a restructuring of business units, enhancing operational efficiency [8] Market Data and Key Metrics Changes - The gold price increased by 21%, contributing to higher margins and cash flow [10][12] - The company anticipates gold production in 2026 to be between 2.9-3.25 million ounces, with a focus on ramping up production at Loulo-Gounkoto [23] Company Strategy and Development Direction - Barrick plans to proceed with an IPO of its North American gold assets, targeting completion by late 2026 to maximize shareholder value [5][26] - The company is focused on safety as its top priority for 2026, following operational achievements overshadowed by fatalities in the previous year [6][7] - The management team has been restructured to enhance operational experience and efficiency [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production guidance for 2026, citing a strong start to the year and improved operational discipline [16][17] - The company is committed to maintaining a focus on high-quality assets and strategic growth, particularly in North America [33][103] Other Important Information - The board has authorized a new dividend policy, increasing the base dividend by 40% to $0.175 per quarter, with a target to pay out 50% of attributable free cash flow [13][14] - The company has successfully resolved disputes in Mali, regaining operational control and ramping up production [21][76] Q&A Session Summary Question: Can you discuss the strategic rationale behind the IPO of NGM and PV? - Management believes a partial IPO will unlock more value than a full separation, as the North American assets are undervalued within Barrick [31][34] Question: What are the intended proceeds from the IPO? - The specifics of the use of proceeds will be determined as part of the preparation work for the IPO [36] Question: Can you provide an update on the Reko Diq financing? - Management is reviewing the security situation in Balochistan before proceeding with financing [40] Question: How has the mine plan review impacted guidance, particularly for Carlin? - The review has led to more realistic production targets based on actual performance, with a focus on achieving consistent delivery [44][46] Question: Is Veladero considered a non-core asset? - Veladero is not non-core and has been one of the top-performing assets in the last year [57] Question: What is the expected recovery rate at PV? - The target recovery rate is 84%, with ongoing efforts to optimize stockpile blending [62][64] Question: Will Barrick sell more gold assets in the future? - The focus remains on high-quality assets, and any dispositions will align with the strategic filter [103]

Barrick Mining (NYSE:GOLD) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Speaker11Welcome everyone to Barrick's fourth quarter 2025 results presentation. At this time, all participants are in listen-only mode. As a reminder, this event is being recorded, and a replay will be available on Barrick's website later today. I will now turn the call over to Cleve Rueckert, Head of Investor Relations. Please go ahead.Speaker2Thank you, Mariana, and good morning, everyone. We hope you've had an opportunity to ...