Barrick Gold Shares Drop 5% After Q4 Earnings Jump 151% and IPO Spin-Off Plans
Barrick Gold Corp posted Q4 net earnings of $1.43 per share, a 151% year-on-year increase, but shares fell nearly 5% after announcing plans to spin off its top North American assets through an IPO. The result was driven by higher gold prices and robust operational performance across the mining portfolio.
1. Fiscal Q2 2026 Financial Performance
Gold.com delivered robust second quarter results for the period ended December 31, 2025, with revenues climbing 136% year-over-year to $6.477 billion. Gross profit more than doubled to $93.4 million, up 109% from $44.8 million in Q2 2025, while non-GAAP EBITDA rose 109% to $33.9 million. Net income attributable to the company reached $11.6 million, a 77% increase from $6.6 million a year earlier, translating into diluted earnings per share of $0.46 compared to $0.27 in Q2 2025. Adjusted net income before provision for income taxes improved 74% to $23.2 million, and gross profit margin stood at 1.44%, down from 1.63% the prior year due to tighter spreads and higher financing costs.
2. Strategic Initiatives and Expansion
During the quarter, Gold.com completed its rebrand from A-Mark Precious Metals, transitioned its listing to the New York Stock Exchange, and relocated its headquarters to Costa Mesa, California. In January 2026 the company closed the acquisition of Monex Deposit Company, enhancing its direct-to-consumer footprint. Management highlighted strong momentum at LPM in Hong Kong, where retail showroom activity and wholesale trading volumes both increased. The company also reported progress in expense optimization and synergy realization across recent acquisitions, positioning it to leverage operational scale and capture growth in Asia and other international markets.
3. $150 Million Strategic Investment from Tether
Gold.com entered into a definitive agreement with Tether, under which Tether will invest $150 million in common shares at an issue price representing an 11.9% discount to the ten-day VWAP as of February 4, 2026. The transaction involves the issuance of 3.371 million shares, subject to registration rights and a 90-day resale restriction, and grants Tether the right to nominate a board member. Proceeds will support the development of Gold.com’s brand portfolio and digital offerings, including a $20 million investment in Tether’s XAU₮ stablecoin. The partnership aims to integrate Gold.com’s physical gold infrastructure with Tether’s stablecoin platform to expand digital gold solutions, gold leasing facilities and stablecoin acceptance across Gold.com’s channels.