5 Best Stocks Under $20 According to Jim Simons’ Fund

In this article, we discuss the 5 best stocks under $20 according to Jim Simons’ Renaissance Technologies. If you want our detailed analysis of these stocks, go directly to 10 Best Stocks Under $20 According to Jim Simons’ Fund. 

5. Barrick Gold Corporation (NYSE:GOLD)

Renaissance Technologies’ Stake Value: $196,941,000

Percentage of Renaissance Technologies’ 13F Portfolio: 0.25%

Number of Hedge Fund Holders: 41

Share Price as of December 7: $18.56

Barrick Gold Corporation (NYSE:GOLD), a Toronto-based gold and copper mining company, is one of the best stocks in Jim Simons’ fund priced at under $20. Barrick Gold Corporation (NYSE:GOLD), on November 4, announced earnings for Q3. EPS in the period amounted to $0.24, beating estimates by $0.01. The quarterly revenue came in at $2.83 billion, down 20.17% year-over-year, missing estimates by $48.74 million. 

Renaissance Technologies holds 10.91 million Barrick Gold Corporation (NYSE:GOLD) shares as of September 2021, worth almost $197 million, representing 0.25% of the fund’s total Q3 securities. 

One of the leading Barrick Gold Corporation (NYSE:GOLD) stakeholders from the third quarter is Kerr Neilson’s Platinum Asset Management, holding a $128.8 million position in the company. Overall, 41 hedge funds monitored by Insider Monkey were long Barrick Gold Corporation (NYSE:GOLD) in Q3, down from 47 funds in the previous quarter. 

On November 17, Canaccord analyst Carey MacRury lowered the price target on Barrick Gold Corporation (NYSE:GOLD) to C$31 from C$32 and kept a Buy rating on the shares.

Ariel Investments mentioned Barrick Gold Corporation (NYSE:GOLD) in its Q2 2021 investor letter. Here is what they said: 

“We re-initiated a position in Barrick Gold Corp. (GOLD) in the quarter. Its shares fell -5.56% from our initiation to the end of the quarter as the price of gold trended lower. Gold exceeded $2,000 per ounce in 2020 but has since declined to approximately $1,812 per ounce. Barrick’s shares have often traded at elevated PE multiples. However, at the current reduced stock price, it is trading at a PE multiple of only 16 times next year’s earnings, an attractive opportunity in our opinion, given our expectation of higher inflation and gold’s historic role as an inflationary hedge.”