5 Best Dividend Stocks to Buy Now According to Billionaire Kerr Neilson

4. Barrick Gold Corporation (NYSE: GOLD)

Neilson’s Stake Value: $151,933,000
Percentage of Kerr Neilson’s 13F Portfolio: 3.38%
Dividend Yield: 1.54%
No. of Hedge Fund Holders: 49

Barrick Gold Corporation (NYSE: GOLD) is a mining company specializing in the production of gold and copper. The company operates 16 sites in 13 countries and is based in Toronto, Ontario, Canada. It is ranked 4^th on our list of the best dividend stocks to buy now according to billionaire Kerr Neilson.

Recently, Barrick Gold Corporation (NYSE: GOLD) has announced its plans to restart operating the Porgera Gold Mine this year after entering into an agreement on the matter with the government of Papua New Guinea.

GoodHaven Capital Management, in their Q4 2020 investor letter, mentioned Barrick Gold Corporation (NYSE: GOLD). Here is what the fund has to say about Barrick Gold Corporation in its Q4 2020 letter:

“Barrick’s recent results have been consistent with our expectations. Barrick has begun inching up the dividend as planned, which should continue increasing absent them finding a large acquisition (they want more copper assets) or a materially lower price of gold. We’d also expect periodic special dividends during stronger gold price environments. At current gold prices we estimate normalized free cash flow at Barrick of over $1.60/share. The company is now about net-debt free. We see plenty of upside and absent a collapse in gold not too much downside. Missing from much of the public discussions about gold, but potentially interesting, is the supply/demand backdrop. As the Wall Street Journal (8/16/20) recently said “gold is amongst the rarest metals in the earth’s crust and much of the easier to get to ore has already been mined. What is left is harder to find and more expensive to extract…” According to the World Platinum Council, it was forecasted that there will be a supply and demand imbalance of 1.2 million ounces globally. The potential macro tailwinds that could add value to an alternate currency like gold including currency concerns, excessive debt and continuing negative real interest rates are still out there. While the shares performed well for the year they were weak in the second half and now stand more attractively priced.”