Shares of Barrick Gold (ABX) are up 82% so far 2016 even though the yellow metal itself has only risen 17% in value. Larry Pitkowsky, portfolio manager for the GoodHaven Fund (GOODX), said the miner’s stock surge reflects deep changes at the company finally taking hold. ‘We had a thesis that new management was going to make enormous changes to what had once been a great company, but had stumbled. They were going to cut costs and reduce leverage,’ said Pitkowsky. ‘That is beginning to play out and we think the market is beginning to notice.’ The $241 million GoodHaven Fund is down 2% thus far in 2016, according to fund-tracker Morningstar.
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