Barrick Gold Stock: Buy, Sell, or Hold in 2026?

After a year when the price of gold rose substantially, and gold stocks across the board saw massive rallies as a result, many investors are wondering how to play the sector heading into 2026, especially with some of the biggest names like Barrick Mining (TSX: ABX).

In 2025, the price of gold recorded a gain of roughly 65%, its sharpest annual rise in over four decades, driven by shifting central bank policies and rising geopolitical risk.

Gold is often viewed as a hedge. Investors tend to turn to it during periods of economic uncertainty, high inflation, geopolitical tension, or when confidence in fiat currencies starts to weaken.

Unlike stocks or bonds, though, gold doesn’t generate cash flow. Its value is driven largely by supply and demand, real interest rates, currency movements, and overall investor sentiment.

That’s why gold often becomes more attractive when central banks start buying, or interest rates are expected to fall. The same is true when markets are volatile or when investors are concerned about long-term economic stability.

However, owning gold directly is very different from owning gold stocks, and there’s a reason many investors choose to own a high-quality gold stock like Barrick over the yellow metal.

Why Barrick is one of the best gold stocks to own

Barrick is a popular investment for investors looking for exposure to the precious metal because it’s one of the highest-quality gold mining companies in the world. Because of its massive size and scale, it operates a diversified portfolio of long-life, low-cost mines across multiple regions, which helps reduce operational and geopolitical risk.

In addition to gold, Barrick also has exposure to copper, which gives it some diversification beyond precious metals. That’s important because copper plays a key role in electrification, infrastructure, and long-term global growth trends.

Furthermore, unlike physical gold, a gold stock like Barrick offers leverage, which is why many investors prefer to own companies instead of bullion.

For example, if the price of gold is at $3,000 and a company produces gold for $2,500, it would make a $500 profit on each ounce. However, if the price of gold were to quickly rise to $3,500, although that’s just a 16% increase in the price, the miner would see its profit rise by $500 per ounce, a 100% increase in profit.

It’s that leverage that makes gold stocks so attractive to own when the price of gold is rising. The downside, of course, is that operating costs, mine disruptions, and political risks can all impact performance in ways that physical gold wouldn’t.

That’s why, although gold stocks offer exposure to a safe-haven asset, they themselves are inherently more volatile, but it also creates the potential for stronger returns when conditions are favourable.

Buy, sell, or hold Barrick in 2026?

In 2025, as gold prices gained 65%, Barrick’s share price saw a jump of roughly 160%, which naturally raises the question of whether the opportunity has already passed.

The stock has continued to rally to start 2026 and is trading at its 52-week high right now. However, although Barrick is nowhere near trading cheaply, it also doesn’t look overvalued either.

Furthermore, in the current environment, the case for gold remains intact. Inflation may be lower than it was at its peak, but uncertainty around global growth, government debt, and interest rate policy continues to persist.

That’s why, for most investors who already own Barrick, the stock still makes sense as a long-term hold. It’s one of the best gold stocks you can buy for exposure to the sector and a company that’s built to be owned for the long haul.

If you lack exposure to gold stocks, it may make sense to be patient, wait for a more attractive entry point, or gradually build exposure over time rather than chasing the rally.

The post Barrick Gold Stock: Buy, Sell, or Hold in 2026? appeared first on The Motley Fool Canada.

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More reading

• Top Canadian Stocks to Buy Right Now With $2,000
• Outlook for Barrick Mining Stock in 2026
• 2 TSX Giants to Buy for the Next 20 Years
• These Are the Top 4 Undervalued Stocks to Buy Right Now
• Energy and Mining Stocks Are Outshining Tech in 2025

Fool contributor Daniel Da Costa has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.