Should I Buy Barrick Gold Stock Now?
August 19, 2020 at 17:43 PM EDT
Warren Buffett's most recent SEC filing showed that Berkshire Hathaway (NYSE: BRK-A) purchased 20.9 million shares of Barrick Gold (NYSE: GOLD) in the second quarter. This raised some eyebrows as Buffett has been pretty outspoken about his dislike of precious metals investments over the years. In reality, it is unlikely that this was Buffett's call. Rather, it was probably one of the other portfolio managers at the firm - Ted Weschler or Todd Combs - who each manage about $15 billion of Berkshire's investment portfolio. The total purchase of Barrick Gold cost Berkshire $562 million, which is relatively small for Buffett, and more in line with Ted or Todd's position sizing. In spite of that, the headlines screamed Buffett buys a gold stock. And the headline traders piled in moving the stock price about 11% higher on Monday. Today, I'll break down what the average retail investor should do with Barrick Gold stock now... The post Should I Buy Barrick Gold Stock Now? appeared first on Money Morning - We Make Investing Profitable . Read more... Tags: gold stocks To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.