Is Barrick Gold (GOLD) a Great Investment Choice?

ClearBridge Investments, an investment management firm, published its “International Growth ACWI ex-U.S. Strategy” first quarter 2022 investor letter – a copy of which can be downloaded here. During the first quarter, the ClearBridge International Growth EAFE Strategy underperformed its MSCI EAFE Index benchmark. The Strategy had losses across nine of the 10 sectors in which it was invested (out of 11 total), driven by the subsector and stock-specific allocations toward growth areas versus the benchmark. IT, health care, and industrials sectors were the primary detractors while the energy sector was the sole contributor. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, ClearBridge Investments  International Growth EAFE Strategy mentioned Barrick Gold Corporation (NYSE:GOLD) and explained its insights for the company. Founded in 1983, Barrick Gold Corporation (NYSE:GOLD) is a Toronto, Canada-based mining company with a $44.8 billion market capitalization. Barrick Gold Corporation (NYSE:GOLD)  delivered a 32.63% return since the beginning of the year, while its 12-month returns are up by 14.65%. The stock closed at $25.20 per share on April 14, 2022.

Here is what ClearBridge Investments  International Growth EAFE Strategy has to say about Barrick Gold Corporation (NYSE:GOLD) in its Q1 2022 investor letter:

“Also within the structural bucket, we have selectively added to our commodity exposure with the purchase of Barrick Gold (NYSE:GOLD). Canadian mining company Barrick Gold is a play on operating improvements. The company has aggressively delevered its balance sheet and reduced capex spending to a lower level more permanently, directing its healthy free cash flow to dividends and buybacks.”

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Our calculations show that Barrick Gold Corporation (NYSE:GOLD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Barrick Gold Corporation (NYSE:GOLD) was in 46 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 41 funds in the previous quarter. Barrick Gold Corporation (NYSE:GOLD) delivered a 33.83% return in the past 3 months.

In September 2021, we published an article that includes Barrick Gold Corporation (NYSE:GOLD) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.