Goldcorp Inc. (USA) (GG), Rio Tinto plc (ADR) (RIO) Among Billionaire Ray Dalio’s Top Mining Stock Picks

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Next up is Barrick Gold Corporation (USA) (NYSE: ABX), a $14.4 billion company engaged in mining operations, and exploration and development projects. Dalio cut his stake in the company to 1.47 million shares from 1.67 million shares held previously. The holding is valued at $16.09 million. For the first quarter of 2015, Barrick Gold Corporation (USA) (NYSE:ABX) reported a significant drop in net earnings to $57 million, or $0.05 per share, from $88 million, or $0.08 per share, in the same quarter last year. In addition, Barrick Gold Corporation (USA) (NYSE:ABX) announced that it made a new gold discovery known as Alturas, located in the Andean region of Chile. The company’s stock gained 13.12% year-to-date. David Greenspan’s Slate Path Capital owns 16.65 million shares of the company, according to its latest 13F filing.

Dalio upped his holding in Newmont Mining Corp (NYSE:NEM) to 620,187 shares, worth $13.46 million, from 529,474 shares held earlier. Newmont Mining Corp (NYSE:NEM) is a $13.50-billion market cap producer of gold and copper. The company posted first-quarter net income of $229 million, or $0.46 per basic share, versus $121 million, or $0.24 per share, in the same period last year. Revenue increased to $2.0 billion from $1.8 billion in the first quarter of the last year.The company’s stock has gained 40.24% year-to-date. Among the largest shareholders of the company is William B. Gray’s Orbis Investment Management, which held 6.19 million Newmont Mining Corp (NYSE:NEM) shares at the end of the first quarter.

The fourth spot is held by Rio Tinto plc (ADR)(NYSE:RIO), in which Dalio disclosed ownership of 317,400 shares, valued at $13.14 million, up from 299,500 shares held previously. With a market cap of $99.53 billion, Rio Tinto plc (ADR)(NYSE:RIO) is a global mining group that focuses on finding, mining and processing the Earth’s mineral resources. Currently, the company intends to raise up to $6 billion in financing for the expansion of its Oyu Tolgoi underground mine in Mongolia. As a result of this project, the company will be able to boost copper and gold extraction, and reduce dependency on iron ore. In its latest 13F, Steve Cohen’s Point72 Asset Management reported holding 1.38 million shares of Rio Tinto plc (ADR)(NYSE:RIO).

Disclosure: none

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