5 Best Gold and Silver Stocks to Buy Amid Rising Inflation

2. Barrick Gold Corporation (NYSE: GOLD)

Number of Hedge Fund Holders: 49

Barrick Gold Corporation (NYSE: GOLD) is a company working to explore, produce, and sell gold and copper properties, while also working in mine development. The company has ownership interests in producing gold mines located in Argentina, Canada, Mali, the US, and a range of other countries. The company ranks 2nd on our list of the best gold and silver stocks to buy amid rising inflation.

In the first quarter of 2021, Barrick Gold Corporation (NYSE: GOLD) had EPS valued at $0.29, beating the $0.27 estimates, alongside revenue valued at $2.96 billion, a 24.02% growth year over year. The company also has a gross profit margin of 42.66%.

By the end of the first quarter of 2021, 49 hedge funds out of the 866 tracked by Insider Monkey held stakes in Barrick Gold Corporation (NYSE: GOLD). The total value of their stakes was roughly $1.31 billion. This is compared to 53 hedge funds out of 887 in the previous quarter holding stakes valued at about $1.75 billion.