5 Gold Stocks that Pay Dividends

2. Barrick Gold Corporation (NYSE:GOLD)

Number of Hedge Fund Holders: 46   

Dividend Yield as of May 12: 1.88%    

Barrick Gold Corporation (NYSE:GOLD) is a mining firm with prime interests in gold and copper. On May 4, the firm posted earnings for the first quarter of 2022, reporting earnings per share of $0.26, beating market estimates by $0.02. The revenue over the period was $2.85 billion, beating expectations by $100 million. The firm also disclosed that it had generated free cash flows of $393 million during the quarter. The company has paid a dividend to shareholders consistently for the past 25 years. 

On April 20, National Bank analyst Mike Parkin maintained a Sector Perform rating on Barrick Gold Corporation (NYSE:GOLD) stock and raised the price target to C$38 from C$29. Barclays also recently raised the price target on the stock. 

At the end of the fourth quarter of 2021, 46 hedge funds in the database of Insider Monkey held stakes worth $958 million in Barrick Gold Corporation (NYSE:GOLD), up from 41 the preceding quarter worth $917 million.

In its Q1 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Barrick Gold Corporation (NYSE:GOLD) was one of them. Here is what the fund said:

“Also within the structural bucket, we have selectively added to our commodity exposure with the purchase of Barrick Gold Corporation (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.”