Soros More Than Doubles Stake in Barrick Gold as Shares Drop
- Holdings in miner climb by 1.78 million shares to 2.85 million
- Investor rebuilds stake during quarter when stock declined 16%
Canadian maple leafs sit on the faces of one ounce gold coins.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
After selling most of his stock in Barrick Gold Corp. in the second quarter, billionaire investor George Soros more than doubled his remaining holding in the mining company.
Soros Fund Management LLC bought 1.78 million Barrick shares in the third quarter, taking total holdings to 2.85 million, according to a regulatory filing. The fund rebuilt its stake in Barrick, one of the world’s two largest gold producers, after selling 94 percent of its holdings in the second quarter to cash in on the stock’s best first-half performance ever.