Barrick Mining Corporation's stock experienced a sharp decline of 5.00% during pre-market trading on Thursday. The move came despite the company reporting strong quarterly results that exceeded analyst expectations.

Investors appeared to react negatively to the company's announcement that it is moving forward with plans to float its North American gold operations through an initial public offering. This strategic decision to separate valuable assets, which account for over 60% of the company's gold production, seems to have overshadowed positive earnings news.

The company reported fourth-quarter adjusted earnings of $1.04 per share, beating estimates of $0.91, and revenue of $6 billion, significantly above the $5.23 billion forecast. Barrick also announced a 40% increase in its quarterly dividend. However, the market's focus shifted to concerns about the complexity and potential implications of the planned IPO, which is expected to be completed later this year subject to market conditions and regulatory approvals.