ClearBridge Investments: “Barrick Gold (GOLD)’s Operating Improvements Lead to Healthy FCF”

ClearBridge Investments, an investment management company, published its “ClearBridge International Growth ADR Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund invests in structural growth companies and in the second quarter it outperformed the MSCI EAFE Index benchmark. You can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter 2022 investor letter, ClearBridge Investments discussed its portfolios and the fund performance. The letter mentioned stocks like Barrick Gold Corporation (NYSE:GOLD). Barrick Gold Corporation (NYSE:GOLD) is a mining company, headquartered in Toronto, Canada, and has a market capitalization of $27.866 billion. The stock of Barrick Gold Corporation (NYSE:GOLD) closed at $15.72 per share on August 1, 2022. The one-month return of Barrick Gold Corporation (NYSE:GOLD) declined to -9.76% and its shares lost 27.62% of their value over the last 52 weeks.

Here is what ClearBridge Investments specifically mentioned about Barrick Gold Corporation (NYSE:GOLD) in its second quarter, 2022 investor letter:

“In addition to Iberdrola, new purchases among structural growers during the quarter included Canadian mining company Barrick Gold Corporation (NYSE:GOLD), which is seeing operating improvements in its business. The company has aggressively delevered its balance sheet and reduced capex spending to a lower level, directing its healthy free cash flow to dividends and buybacks.’’

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As per our research Barrick Gold Corporation (NYSE:GOLD) isn’t on our list of 30 Most Popular Stocks Among Hedge Funds. Our database shows that 45 hedge fund portfolios hold Barrick Gold Corporation (NYSE:GOLD) at the end of the first quarter compared to 46 in the previous quarter.

You can find another article on Barrick Gold Corporation (NYSE:GOLD) we published in April, where we shared ClearBridge Investments’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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

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