Investing in gold stocks is a time-proven idea, and knowing this, Insider Monkey has come up with their latest compilation about the best gold stocks to buy now using billionaire quant hedge fund Renaissance Technologies’ stock picks. Jim Simons established his Renaissance Technologies Corporation in 1982, and since then he has become one of the most successful and billionaire hedge fund managers in the world. According to Insider Monkey, “Jim Simons, like to play with market volatility based on the strategy that almost takes the human element out of investing.” Despite Jim Simons use a computer-based model of forecasting market trends, it failed regarding to the impacts and shock caused by the pandemic. This caused quite a loss in the first half of the year, but in the second half the company managed to regain those losses.
So what are the best golds stocks to purchase now? Keep up reading, as we have brought two stocks from Insider Monkey’s list. At first, on the fourth spot here’s Kinross Gold Corporation (NYSE: KGC). Kinross Gold Coro. has been a part of Renaissance Technologies portfolio since 2013. It’s a gold mining firm and accounts for 0.39% of the overall portfolio valued at $393 million. Its share price has shown 60% growth for the past twelve months. As for the last 5 years, the shares have generated 250%. The company also offers a dividend yield of 0.83%. What’s more its earnings almost tripled to $310 million in the third quarter. Barrick Gold Corporation (NYSE: GOLD) stands on the second spot and has been among Jim Simons stock portfolio for six years. Its value is $603 million, accounting for 0.60% of the overall portfolio. Barrick is a Canada-headquartered company that has had a pretty good year now as its shares grow 30% in 2020. The quarterly dividend has recently been increased by 12%, and its third-quarter free cash flow hit a record level of $1.3 billion. If you would like to get more interesting information about these companies and would like to read the entire list, please click the best gold stocks to buy now.
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