Major Funds Increase Stakes in Barrick Gold Amid Strong Results

Institutional confidence in Barrick Gold Corporation is mounting, as recent regulatory filings reveal significant new investments by heavyweight asset managers. This surge of institutional interest follows the gold producer’s announcement of robust quarterly earnings and a substantial dividend increase, even as a strategic move in North America introduces potential friction with a joint venture partner.

Robust Fundamentals Attract Capital

The financial elite’s growing appetite for Barrick shares is underpinned by solid operational performance. On February 5, the company released fourth-quarter 2025 results that surpassed market expectations. Revenue saw a year-over-year increase of nearly 45%, reaching $5.98 billion. Adjusted earnings per share came in at $1.04, exceeding consensus estimates. The company’s balance sheet remains strong, evidenced by a debt-to-equity ratio of just 0.13.

A major development for income-focused investors was the revised dividend policy. Concurrent with the earnings release, management declared a raise in the quarterly dividend payout from $0.18 to $0.42 per share. This annualizes to $1.68 per share, which, at a recent share price of $47.99, translates to a dividend yield of approximately 3.5%.

Notable Institutional Moves

Recent 13F filings with the U.S. Securities and Exchange Commission detail substantial portfolio adjustments favoring the mining giant.

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

• Mondrian Investment Partners established a new position in the third quarter, acquiring nearly 3 million shares. This stake holds a current market value of about $97.95 million.
• CIBC Asset Management aggressively expanded its existing holding by 316%. The asset manager now controls a position worth over $600 million.

These moves place the London-based Mondrian alongside other prominent Barrick investors such as Vanguard and Arrowstreet Capital. Market data indicates that roughly 90.82% of Barrick’s outstanding shares are now held by institutional investors, signaling deep conviction in the company’s long-term direction.

Strategic IPO Plans and Partner Tensions

Beyond its operational strength, Barrick is advancing plans for a separate initial public offering (IPO) of its North American gold assets. This portfolio is expected to include the prestigious Nevada Gold Mines complex as well as projects in the Dominican Republic.

However, this strategic initiative faces a challenge. Joint venture partner Newmont Corporation has expressed concerns regarding operational performance in Nevada. The competitor has signaled its intention to review contractual protective clauses should the proposed separation structure impact existing agreements.

For shareholders, a key date is February 27. Investors registered by this record date will be eligible to receive the significantly increased dividend on March 16. While Barrick’s financial foundation appears healthy, the stock’s future trajectory may largely depend on management’s ability to navigate the tensions with Newmont and execute the planned North American IPO without delays.