Barrick's record profits & killed buybacks: Q4 2025 earnings - 2.5.2026 (055)

Barrick Gold just posted a dream quarter on paper: revenue is up 45% to $6B, gold prices are clearing $4,100/oz, and cash is pouring in. So why did the stock sell off? 📉 Susie and Miro break down the massive strategic pivot that caught the market off guard: management effectively killed the share buyback program to bet the house on dividends.We dig into the messy details hiding behind the shiny headline numbers. From the "NewCo" IPO plan to spin off North American assets to the "metallurgical reality check" happening at the Pueblo Viejo mine, there is a lot of friction in the machinery.Plus, with 2026 cost guidance creeping up nearly 20%, we ask the hard question: Is this the top of the gold cycle, or just the beginning of a new, more expensive era? 🥇