SCHEDULE 13G: BlackRock Discloses 5% Stake in Barrick Gold Corp
Beneficial Ownership Report
BlackRock, Inc. has filed a Schedule 13G, revealing a 5.0% beneficial ownership stake in Barrick Gold Corp as of June 30, 2025.
Summary
- BlackRock, Inc. reported beneficial ownership of 86,373,962 shares of Barrick Gold Corp common stock.
- This represents 5.0% of the total outstanding common stock of Barrick Gold Corp.
- BlackRock holds sole voting power over 83,397,894 shares and sole dispositive power over 86,373,962 shares.
- The filing indicates that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Barrick Gold Corp.
- Various BlackRock subsidiaries and affiliates contribute to this aggregate beneficial ownership, including BlackRock Life Limited, BlackRock Institutional Trust Company, National Association, and BlackRock Fund Advisors.
Sentiment
Score: 6
Explanation: The filing is a factual disclosure of a significant institutional ownership stake by BlackRock in Barrick Gold Corp. While not directly indicative of Barrick Gold's operational performance, a major institutional holding can be viewed positively as a sign of investor confidence. The sentiment is neutral to slightly positive due to the presence of a large, passive institutional investor.
Positives
- A major institutional investor, BlackRock, holds a significant 5.0% stake in Barrick Gold Corp, which can be interpreted as a sign of confidence in the company.
- The holding is stated to be for ordinary course of business, suggesting a passive, long-term investment perspective rather than an activist stance.
Negatives
- The Schedule 13G filing itself does not contain negative information regarding Barrick Gold Corp's operational performance or financial outlook.
Risks
- The Schedule 13G filing primarily discloses beneficial ownership and does not detail specific risks related to Barrick Gold Corp's operations or financial performance.
Future Outlook
NA
Management Comments
- "The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."
Industry Context
BlackRock, as one of the world's largest asset managers, routinely files Schedule 13G reports to disclose passive ownership stakes exceeding 5% in publicly traded companies. This filing indicates BlackRock's significant investment in Barrick Gold Corp, a major global gold mining company. Such institutional holdings are common for large-cap companies and reflect a fund manager's investment strategy within the materials sector.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Authorized Signatories for SEC Filings (BlackRock, Inc.) | Individuals authorized under Power of Attorney dated April 30, 2023 | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | Update and formalization of authorized individuals for compliance with ownership and control-person reporting requirements. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. updated its Power of Attorney, effective January 21, 2025, revoking the prior one dated April 30, 2023. This document formally designates specific individuals to execute various SEC and non-US regulatory filings on behalf of BlackRock and its subsidiaries. | 2025-01-21 | Streamlines the process for BlackRock to comply with ownership and control-person reporting requirements by formally designating authorized signatories for SEC filings, enhancing internal governance related to regulatory disclosures. |
Stakeholder Impact
- **Shareholders**: The disclosure of BlackRock's 5.0% stake may be viewed positively by other shareholders as it signals significant institutional confidence and a stable, long-term investment by a major asset manager.
- **Management**: Awareness of a large, passive institutional holder like BlackRock may influence management's focus on long-term value creation, though BlackRock explicitly states it is not seeking to influence control.
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Previous Power of Attorney date for BlackRock, which has been revoked. |
| 2025-01-21 | Effective date of the new Power of Attorney for BlackRock, authorizing specific individuals to execute SEC filings. |
| 2025-06-30 | Date of event which requires filing of this statement, representing the snapshot date for beneficial ownership. |
| 2025-07-17 | Filing date of the Schedule 13G with the SEC. |
Recommendation
holdKeywords
Barrick Gold Corp, BlackRock, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Gold Mining, Asset Management
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