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Buffet Buy Sends Barrick Gold Soaring
Description
An SEC filing showed that Warren Buffett's Berkshire Hathaway bought a stake in Barrick Gold in the second quarter.
Business Insider reports that Barrick Gold surged more than 10% in premarket trading Monday.
Berkshire Hathaway bought 21 million shares of the gold and copper miner.
The total stake in Barrick Gold was worth about $564 million, according to the Friday filing.
The buy comes as a bit of a surprise.
Buffett has been a critic of gold in the past, saying that it isn't as good of an investment as businesses, farms, and real estate.
Business Insider reports that Barrick Gold surged more than 10% in premarket trading Monday.
Berkshire Hathaway bought 21 million shares of the gold and copper miner.
The total stake in Barrick Gold was worth about $564 million, according to the Friday filing.
The buy comes as a bit of a surprise.
Buffett has been a critic of gold in the past, saying that it isn't as good of an investment as businesses, farms, and real estate.
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