Barrick Mining Corporation (NYSE:B) is one of the best copper stocks to buy right now. On December 5, Barrick Mining Corporation (NYSE:B) was upgraded to Outperform from Neutral by BNP Paribas Exane analyst Alan Spence, who set a $50 price target on the stock. The firm supported the rating upgrade with the copper sector’s momentum-fueled entry into 2026.
Separately, on December 2, Barrick Mining Corporation (NYSE:B) announced the completion of the divestiture of its interests in the Tongon gold mine and certain of its exploration properties in Côte d’lvoire to the Atlantic Group for total consideration of up to $305 million.
Management reported that the consideration comprises a “cash consideration of $192 million, inclusive of a $23 million shareholder loan repayment within six months of closing, and contingent cash payments totalling up to $113 million payable based on the price of gold over 2.5 years and resource conversions over 5 years”.
In addition, Barrick Mining Corporation (NYSE:B) announced on December 1 that its Board of Directors unanimously authorised its management team to explore an initial public offering (IPO) of a subsidiary that would hold the company’s premier North American Gold Assets.
Management reported that if an IPO is pursued, NewCo would be anchored by Barrick Mining Corporation’s (NYSE:B) joint venture interests in Pueblo Viejo and Nevada Gold Mines, along with Barrick’s wholly owned Fourmile gold discovery in Nevada.
The company further reported that it is contemplated that NewCo would be listed “through an initial public offering of a small minority interest”, and following the IPO, Barrick would “intend to retain a significant controlling majority interest in NewCo, while also retaining and driving value in the Company’s other world-class global gold and copper assets in its portfolio”.
Barrick Mining Corporation (NYSE:B) added that this action is complementary to the “Board’s ongoing operational review and focus on maximising value across Barrick’s portfolio for shareholders”, especially in North America.
Barrick Mining Corporation’s (NYSE:B) management has been authorized to explore this potential value creation initiative through early 2026, and the company would provide updates regarding its progress at its full year 2025 results in February 2026.
Barrick Gold Corporation (NYSE:B) is a Canada-based gold and copper producer and seller. The company also engages in related activities, such as exploration and mine development. It has ownership interests in producing gold mines in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of the Congo, the Dominican Republic, Mali, Tanzania, and the United States.
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Disclosure: None. This article is originally published at Insider Monkey.
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