The precious metal also benefited from the weaker US dollar. Berkshire Hathaway purchased a 20.9 million-share stake in Barrick Gold, valued at about $564m, reported FOX News Network.
What price did Warren Buffett pay for Barrick Gold?
Legendary investor Warren Buffett’s decision to buy into Canadian gold giant Barrick Gold could trigger a stampede of retail investors into gold shares, according to analysts. Buffett’s company Berkshire Hathaway bought 20.92 million shares in Barrick Gold during the June quarter at a cost of $US563.
Why did Warren Buffett buy Barrick Gold?
Why Buffett sold Barrick
Berkshire’s decision to invest in the company was likely based on profiting from the company’s performance, and that is precisely what happened. A rally in gold and copper prices can boost the company’s profitability. Conversely, declining prices decrease its profit margins.
Is Barrick Gold a Good Investment?
Barrick Gold’s (NYSE:GOLD) size and scale of operations, and its hunger for growth, make its stock one of the best bets in the gold industry. … In 2020, Barrick earned $2.3 billion in net income and generated record free cash flow of $3.4 billion.
Does Warren Buffet invest in gold?
Buffett has not shied away from ridiculing those who invest in gold, which he believes is a non-productive asset. So, his decision to buy shares of a gold miner, though not exactly similar to buying gold, made headlines in August last year, when Berkshire made the holding public.
Which gold stocks did Warren Buffett buy?
He is still following the same investing strategy at 90-years. In the second quarter of 2020 Berkshire Hathaway purchased a 20.9 million shares stake in Barrick Gold ( a gold mining company).
Does Warren Buffett own silver?
Warren Buffett does not invest in gold. He has invested almost $1 billion in silver, so the reason for his aversion is not simply a dislike for precious metals. … Silver has a myriad of industrial and medical uses.
What has Warren Buffett invested in recently?
Stocks that Warren Buffett recently bought
|Stock||Number of Shares Owned||Value of Total Stake|
|Chevron (NYSE:CVX)||23,672,271||$2.5 billion|
|General Motors (NYSE:GM)||67,000,000||$3.8 billion|
|Liberty Global Class A (NASDAQ:LBTYA)||3,359,831||$86.2 million|
|Merck (NYSE:MRK)||17,882,388||$1.4 billion|