Five Notable Moves by Billionaire George Soros’ Fund

Adecoagro SA (NYSE:AGRO)

– Shares Owned by Soros Fund Management (as of March 31): 13.97 million

– Value of Holding (as of March 31): $161.30 million

With Soros Fund Managemnt reducing its stake in the company by 46% during the first quarter, Adecoagro SA (NYSE:AGRO) lost its spot as the fund’s top stock pick and became its second-largest equity holding at the end of March. The family office has held a stake in Adecoagro SA (NYSE:AGRO) from the first quarter of 2011, when the company had its IPO. Although shares of the agro-industrial company ended the first quarter with a loss of only 6%, they have fallen considerably in the present quarter and are currently trading down over 15% year-to-date. On May 13, the company reported EBITDA of $43.2 million and net income of $2.8 million for its fiscal 2016 first quarter, compared to EBITDA of $20.28 million and a net loss of $5.5 million posted a year earlier. Following the earnings release, on May 14, analysts at Credit Suisse reiterated their ‘Buy’ rating on the stock.

Barrick Gold Corporation (USA) (NYSE:ABX)

– Shares Owned by Soros Fund Management (as of March 31): 19.42 million

– Value of Holding (as of March 31): $263.71 million

Soros Fund Management initiated a stake in Barrick Gold Corporation (USA) (NYSE:ABX) during the first quarter and the position was the fund’s largest at the end of March. Barrick Gold Corporation (USA) (NYSE:ABX)’s stock has seen an unprecedented 147% rise so far this year led by a rally in gold prices. However, it is still trading down by over 50% from the levels seen back in 2011. According to analysts, the stock can soon bounce back if gold continues its rally going forward. The 28 leading analysts and research houses on the street that track the stock of the Canadian gold mining company currently have an average rating of ‘Overweight’ and an average price target of $21.78, which represents a potential upside of 20% from the stock’s current trading price. Bruce Kovner‘s Caxton Associates initiated a stake in Barrick Gold Corporation during the first quarter by purchasing 11.56 million shares of the company.

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