Barrick Gold (ABX), Kinross Gold (KGC), Turquoise Hill (TRQ): Top Basic Material Stocks of Kopernik Global Investors

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Kinross Gold Corporation (USA) (NYSE:KGC) is the second largest basic materials stock holding of the fund. It is the seventh-largest gold company in the world, with its primary operations in the United States, Brazil, Ghana, Chile, Russia, and Mauritania. Kopernik held 16.56 million shares of the gold producer at the end of the first quarter with a market value of $37.10 million. Kinross Gold Corporation (USA) (NYSE:KGC) reported net revenue of $781.4 million in the first quarter of 2015 against revenue of $817.4 million in the prior year’s quarter. Net earnings were lower as well, at $15.3 million in comparison to last year’s quarterly earnings of $34.1 million. First Eagle Investment Management and Renaissance Technologies are among the primary investors of Kinross Gold Corporation (USA) (NYSE:KGC).

Turquoise Hill Resources Ltd (NYSE:TRQ) comes in at number three in the ranking of the largest basic materials holdings of Kopernik Global Investors. Turquoise is a mineral exploration company headquartered in Vancouver, BC, Canada that has been active for the past two decades. The fund had 8.99 million shares of Turquoise Hill Resources Ltd (NYSE:TRQ) in its portfolio with a market value of $28.06 million. The shares of the Canadian mining company have grown 38.55% year-to-date, lifting its market cap to $8.70 billion. Turquoise Hill had a minor setback earlier this week after its deal to sell-off its remaining shares of Mongolian coal miner SouthGobi Resources fell through. Turquoise Hill has been trying to unload its stake in SouthGobi primarily because of the declining share value of the coal miner. Some of the other major investors of Turquoise Hill Resources Ltd (NYSE:TRQ) include Pentwater Capital Management, Mason Capital Management, and Dalton Investments.

Disclosure: None

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