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Barrick Gold’s stock soars after Buffett’s Berkshire reveals stake

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Barrick Gold mining

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Barrick Gold‘s stock is popping 10% in premarket trading Monday after legendary investor Warren Buffett’s Berkshire Hathaway revealed a stake in the gold miner’s stock. 

Berkshire added a $562 million position in Barrick Gold in the second quarter, according to SEC filings Friday. While the position is small for Berkshire — which owns more than $89 billion in Apple stock — the conglomerate is the 11th largest shareholder of the gold mining company, according to FactSet. 

This was an unusual move considering Buffett, a long-time value investor, has long professed a dislike for gold, preferring assets that have cash flows or pay…



Source cnbc.com

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