{"date":"2026-01-14T00:00","headerImageUrl":"https://structuredproducts-ch.leonteq.com/product-news/product-homepage-banner/barrick+mining_leonteq-structured-products_product+homepage+banner.jpg","subTitle":"Plenty of Upside Potential","windowTitle":"Barrick Mining","category":"coupon-giant","title":"Barrick Mining","body":"<p>The dispute between the White House and the US central bank has reached a new level of escalation. At the end of last week, Fed Chairman Jerome Powell received a subpoena from the Department of Justice. It threatens him with charges in connection with the renovation of the Federal Reserve\u2019s headquarters. Powell has described the allegations as a pretext. In a video message, he explained that this is not about him or the construction project. Rather, in his view, the aim is to increase pressure on the Fed. US President Donald Trump has long been calling for the central bank to loosen its course and cut interest rates more aggressively, and he has not shied away from personal attacks on Powell. What is clear is that this latest move has intensified concerns about the independence of the Federal Reserve System: while the US dollar came under pressure at the start of the week, gold and silver reached new record highs.<\/p>\n\n<div><generic-chart title=\"Barrick Mining: Shareprice (in USD)\"> \n    <chart-line title=\"Barrick Mining\" path=\"Chart_Barrick25.csv\" format=\"date, number\"><\/chart-line> \n    <x-axis type=\"datetime\"><\/x-axis> <\/generic-chart><\/div>\n<footer>Source: Refinitiv, as of January 13, 2026<br />Historical data is not a reliable indicator of future performance.<\/footer>\n\n\n<h3>Strong cash inflows<\/h3>\n<p>Many investors\u2019 move toward \u201csafe havens\u201d has brought mining stocks back into focus. One of the leading representatives of this group is Barrick Mining. The company, headquartered in Toronto, Canada, produces gold and copper. As such, it is also benefiting from the rally in the most important industrial metal. Expectations of strong demand from China as well as from the global construction of data centers pushed copper to an all-time high earlier this year. Barrick\u2019s cash registers were already ringing before the latest advances in the two commodities. In the third quarter of 2025 alone, the company generated free cash flow of nearly USD 1.5 billion, more than tripling the inflow compared with the same period a year earlier. From January to September 2025, Barrick posted free cash flow of USD 2.25 billion, putting the Canadian miner on a good path to matching its peak full-year result from 2020 (see chart). This strong financial position allows the company to raise dividends and repurchase shares on a large scale; an ongoing buyback program was increased by half to USD 1.5 billion.<\/p>\n\n<div>\n<generic-chart title=\"Free Cash Flow (in USD Mio.)\">\n  <x-axis categories=\"2020,2021,2022,2023,2024,2025e\"/>\n      <chart-column title=\"Free Cash Flow (in USD Mio.)\" data=\"3363,1943,432,646,1317,2249\" format=\"number\"/>\n<\/generic-chart> \n<\/div>\n<footer>Source: Refinitiv, as of January 2026, e = expected<br />Historical data is not a reliable indicator of future performance.<\/footer>\n\n\n<h3>IPO plans in North America<\/h3>\n<p>How business developed in the final quarter and whether Barrick Mining met its operational production targets will become clear on February 5, 2026, when the industry giant publishes its annual results. CEO Mark Hill is also likely to use the occasion to provide an update on a potential IPO of the company\u2019s North American gold operations. In early December, the company announced that it was evaluating such a step. The IPO candidate, referred to by management as \u201cNewCo,\u201d would include Barrick\u2019s stakes in the joint-venture operations Nevada Gold Mines and Pueblo Viejo, as well as the wholly owned Fourmile gold deposit. \u201cBarrick\u2019s gold mines in Nevada and the Dominican Republic are among the best in the world and are located in some of the most prolific gold mining regions,\u201d the CEO enthused. As part of a potential IPO, however, only a minority stake would be floated, as Barrick intends to retain control of NewCo.<\/p>\n\n<h3>Investment ideas \u2013 for yield seekers and traders<\/h3>\n<p>These plans may have been influenced by the US hedge fund Elliott Management, which disclosed a stake in Barrick Mining in November 2025. The activist investor is known for pushing for far-reaching changes. An IPO could provide an opportunity to unlock hidden value at Barrick or reduce the valuation discount relative to other mining stocks. Be that as it may, high gold and copper prices, combined with IPO speculation, are likely to keep the mining stock on investors\u2019 radar. Leonteq offers various ways to gain exposure to Barrick. Yield-oriented investors may find new soft-callable barrier reverse convertibles attractive, as they combine double-digit percentage return potential with a solid risk buffer. Traders looking to position themselves ahead of the earnings date or after the results are published can choose from a wide range of leveraged products on Barrick Mining. Momentum\u2019s Leonteq offering on this underlying includes more than 80 Mini-Futures, Knock-out Warrants, and classic Warrants.<\/p>\n\n\n<h3>Callable Barrier Reverse Convertibles<\/h3>\n<div>  \n    \n    <SavedSearch :allProducts=\"false\" :filter=\"{&quot;countrySpecificTitles&quot;:[],&quot;distanceToBarriers&quot;:[],&quot;underlyings&quot;:[],&quot;maturityRangeKey&quot;:[],&quot;marketVenues&quot;:[],&quot;productTypes&quot;:[],&quot;barrierTypes&quot;:[],&quot;issuers&quot;:[],&quot;omni&quot;:&quot;\\&quot;CH1505579750\\&quot;\\&quot;CH1505579800\\&quot;&quot;,&quot;strikeLevelRanges&quot;:[],&quot;productCategories&quot;:[],&quot;displayColumns&quot;:[&quot;coupon&quot;,&quot;underlying&quot;,&quot;barrierPercentage&quot;,&quot;currency&quot;,&quot;lastTradingDate&quot;,&quot;tenor&quot;,&quot;bidAsk&quot;,&quot;subscriptionEndDate&quot;,&quot;valor&quot;,&quot;documentLinks&quot;],&quot;partner&quot;:&quot;LEONTEQ&quot;,&quot;sortFields&quot;:[{&quot;fieldName&quot;:&quot;snapshot.product.investment.investment_currency&quot;,&quot;sortOrder&quot;:&quot;ASC&quot;}],&quot;productGroups&quot;:[],&quot;conditions&quot;:{&quot;&quot;:true,&quot;-_exists_:snapshot.product.in_subscription&quot;:false,&quot;+snapshot.product.attributes.extended_trading_hours:true&quot;:false,&quot;+snapshot.product.in_subscription:(\\&quot;LEONTEQ\\&quot;)&quot;:false,&quot;+snapshot.product.secondary_market:true&quot;:false},&quot;barrierLevelRanges&quot;:[],&quot;assetClasses&quot;:[],&quot;currencies&quot;:[]}\">\n                <\/SavedSearch>\n  \n    \n    <SavedSearch :allProducts=\"false\" :filter=\"{&quot;countrySpecificTitles&quot;:[],&quot;distanceToBarriers&quot;:[],&quot;underlyings&quot;:[],&quot;maturityRangeKey&quot;:[],&quot;marketVenues&quot;:[],&quot;productTypes&quot;:[],&quot;barrierTypes&quot;:[],&quot;issuers&quot;:[],&quot;omni&quot;:&quot;\\&quot;CH1349978390\\&quot; \\&quot;CH1349978382\\&quot;&quot;,&quot;strikeLevelRanges&quot;:[],&quot;productCategories&quot;:[],&quot;displayColumns&quot;:[&quot;coupon&quot;,&quot;underlying&quot;,&quot;barrierPercentage&quot;,&quot;currency&quot;,&quot;lastTradingDate&quot;,&quot;tenor&quot;,&quot;bidAsk&quot;,&quot;subscriptionEndDate&quot;,&quot;valor&quot;,&quot;documentLinks&quot;],&quot;partner&quot;:&quot;LEONTEQ&quot;,&quot;sortFields&quot;:[{&quot;fieldName&quot;:&quot;snapshot.product.investment.investment_currency&quot;,&quot;sortOrder&quot;:&quot;ASC&quot;}],&quot;productGroups&quot;:[],&quot;conditions&quot;:{&quot;&quot;:true,&quot;-_exists_:snapshot.product.in_subscription&quot;:false,&quot;+snapshot.product.in_subscription:(\\&quot;LEONTEQ\\&quot;)&quot;:false,&quot;+snapshot.product.secondary_market:true&quot;:false},&quot;barrierLevelRanges&quot;:[],&quot;assetClasses&quot;:[],&quot;currencies&quot;:[]}\">\n                <\/SavedSearch>\n  <\/div>\n\n<h3>Leveraged products on Barrick Mining<\/h3>\n<div>  \n        \n                                                                                                                                                                                                                                                                            \n            <leverage-saved-search :columns=\"[ 'engine.isin', 'engine.valor', 'Type', 'Direction', 'engine.underlying', 'engine.currency-abbr', 'Strike', 'Leverage', 'Ratio', 'engine.maturity', 'Bid', 'Ask']\" :filter=\"{&quot;leverage&quot;:{&quot;min&quot;:4.475,&quot;max&quot;:64.546},&quot;underlyings&quot;:[&quot;67505028&quot;],&quot;productTypes&quot;:[&quot;PT_MINI_FUTURE&quot;],&quot;conditions&quot;:{&quot;-identification.status:EXPIRED&quot;:true,&quot;+_exists_:levels.stopLossLevelAbs&quot;:false,&quot;+priceIndication.extendedTradingHours:true&quot;:false,&quot;+calendar.issueDateTime:[* TO now]&quot;:true}}\" />\n  <\/div>\n    \n<ltq-button color=\"primary\" url=\"https://structuredproducts-ch.leonteq.com/leverage/WvD?language_id=1\" label=\"Discover more leveraged products!\"><\/ltq-button>\n<div>      <p>We look forward to answering all of your questions about our products and how they are traded. Please don't hesitate to get in touch! Phone: <a href=\"tel:+41588001111\">058 800 11 11<\/a>, email <a href=\"mailto:info@leonteq.com\">info@leonteq.com<\/a> or <a href=\"/contact\" title=\"Contact\">contact us here<\/a>.\n<\/p>\n  <\/div>","url":"coupon-barrick","investmentThemeVerticalImageUrl":"https://structuredproducts-ch.leonteq.com/product-news/sidenav-banner/barrick+mining_leonteq-structured-products_sidenav+banner.jpg","thumbnailUrl":"https://structuredproducts-ch.leonteq.com/product-news/thumbnail/barrick+mining_leonteq-structured-products_thumbnail.jpg"}