Canadian business news: gold at US$4,243 an ounce just handed Barrick a US$1.32 billion quarter, and the miner is using the windfall to buy back US$761 million of its own shares while spinning its North American mines into a separate company. The Barrick American Barrick IPO filing landed November 10, and the market answered with a 5.6 percent drop.
The Barrick American Barrick IPO would list Barrick’s North American gold assets as a new company, American Barrick Gold Corporation, on the NYSE under the ticker ABGC. Barrick filed the S-1 on November 10, 2026, after a third quarter profit of US$1.32 billion, and it expects to return the IPO proceeds to shareholders.
By Maplestime News Desk | Winnipeg, Manitoba | November 13, 2026
Sources: Kitco, Barrick | Last updated: November 13, 2026
Key Takeaways
- Net earnings of US$1.32 billion, or US$0.80 per share, with adjusted earnings of US$0.82 per share beating the US$0.79 consensus.
- Revenue rose 22 percent to US$5.07 billion as the realized gold price jumped 23 percent to US$4,243 per ounce.
- Gold production of 816,000 ounces, down 2 percent from a year earlier but up 3 percent from the second quarter, with copper output of 50,000 tonnes.
- Barrick filed November 10 to list its North American gold assets as American Barrick Gold Corporation on the NYSE under the ticker ABGC.
- Barrick returned US$1.04 billion to shareholders in the quarter: US$761 million in buybacks plus a US$0.175 per share dividend.
- JPMorgan cut its price target to $53 from $55, and Barrick shares fell 5.6 percent in the November 11 session.
What did Barrick earn in the third quarter?
Barrick Mining Corp., listed in New York as B and in Toronto as ABX, reported third quarter 2026 net earnings of US$1.32 billion, or US$0.80 per share, up from US$1.30 billion, or US$0.76 per share, a year earlier. The results were released November 9, 2026.
Adjusted net earnings came in at US$1.35 billion, or US$0.82 per share, up 41 percent from US$0.58 a year earlier and ahead of the US$0.79 consensus estimate. Revenue rose 22 percent year over year to US$5.07 billion, and attributable adjusted EBITDA rose 22 percent to US$2.47 billion.
Gold production was 816,000 ounces, down 2 percent year over year but up 3 percent from the second quarter. Extreme weather at Veladero and delayed access to higher grade ore at North Mara held output back. Copper output was 50,000 tonnes.
The price did the heavy lifting. Barrick realized an average US$4,243 per ounce for its gold, up 23 percent from US$3,457 a year earlier. Costs climbed too, with all in sustaining costs up 24 percent year over year to US$1,911 per ounce and total cash costs up to US$1,386 per ounce.
An open pit gold mine. The Sunrise Dam pit in Western Australia shows the scale of open pit mining. Photo: Calistemon, CC BY-SA 4.0, via Wikimedia Commons
What does the Barrick American Barrick IPO mean for shareholders?
On November 10, 2026, Barrick filed a Form S-1 for an initial public offering of its North American gold assets as a new company, American Barrick Gold Corporation, to list on the NYSE under the ticker ABGC. The share count and price range are not yet set.
Net proceeds from the offering would go to Barrick, which expects to return them to shareholders. That fits the pattern of the third quarter, when Barrick returned US$1.04 billion through US$761 million of share repurchases plus a quarterly dividend of US$0.175 per share. The dividend has a record date of November 30, 2026, and is payable December 15, 2026. Barrick ended the quarter with net cash of about US$0.9 billion.
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Why did Barrick shares fall after a beat?
The market did not celebrate. JPMorgan cut its Barrick price target to $53 from $55 after the results, while keeping an Overweight rating, and Barrick shares fell 5.6 percent in the November 11 session alongside weaker gold. A beat on earnings means little on a day when the metal itself is sliding, and Barrick now has to prove the North American listing is worth more than the company it leaves behind.
What happens next?
Barrick reaffirmed full year 2026 guidance of 2.90 to 3.25 million ounces of gold and 190,000 to 220,000 tonnes of copper, and management expects fourth quarter gold output slightly above the third quarter. The IPO timetable, share count and price range are still to come, and those details will tell investors whether the new listing is a genuine unlock of value or just a new wrapper on the same mines.
Frequently Asked Questions
What is the American Barrick IPO?
It is the planned listing of Barrick’s North American gold assets as a separate company, American Barrick Gold Corporation, on the NYSE under the ticker ABGC. Barrick filed the Form S-1 on November 10, 2026, and the share count and price range are not yet set.
How much did Barrick return to shareholders in the third quarter?
US$1.04 billion, through US$761 million of share repurchases and a quarterly dividend of US$0.175 per share.
When is Barrick’s dividend paid?
The dividend of US$0.175 per share has a record date of November 30, 2026, and is payable December 15, 2026.
Gold ingots on display at the Banque de France. Barrick realized US$4,243 per ounce in the third quarter. Photo: Ibex73, CC BY 4.0, via Wikimedia Commons
Maplestime will provide updates from Barrick and the American Barrick IPO as announcements are made.
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