5 Best Gold Stocks For Inflation

3. Barrick Gold Corp (NYSE:GOLD)

Number of Hedge Fund Investors: 36

Dividend Percentage as of February 2: 2.64%

Barrick Gold Corporation (NYSE:GOLD), headquartered in Toronto, Ontario, Canada, is a prominent mining company specializing in gold and copper production. With operations spanning across 16 sites in 13 countries, the company maintains a global presence.

In the third quarter of 2023, Barrick Gold Corporation (NYSE:GOLD) reported net earnings of $368 million, accompanied by an increase in gold production to 32.4 tons, compared to 31.5 tons in Q3 2022. Additionally, the company completed the acquisition of 7 million warrants to acquire additional shares in Hercules Silver Corp. (TSXV:BIG) on November 10, 2023, for approximately $4.76 million.

Insider Monkey’s database reflected positive hedge fund sentiment towards Barrick Gold Corporation (NYSE:GOLD)’s stock. In the third quarter of 2023, the number of hedge funds bullish on the stock increased to 36, up from 32 in the previous quarter. Ken Griffin’s Citadel Investment Group was among the top stakeholders in the company.