In this article, we discuss the top 5 stock picks of David Iben’s Kopernik Global Investors. If you want to read our comprehensive analysis of Iben’s history, investment philosophy, and hedge fund performance, go directly to Top 10 Stock Picks of David Iben’s Kopernik Global Investors.
5. Range Resources Corporation (NYSE:RRC)
Kopernik Global Investors’ Stake Value: $79.24 million
Percentage of Kopernik Global Investors’ 13F Portfolio: 8.89%
Number of Hedge Fund Holders: 25
Range Resources Corporation (NYSE:RRC) is up next on our list of the top stock picks of David Iben’s Kopernik Global Investors. According to 13F filings for the third quarter, David Iben owns 3.5 million shares worth $79.24 million in Range Resources Corporation (NYSE:RRC), amounting to an 8.89% slice of his overall portfolio.
25 hedge funds had bullish bets on the company shares at the end of the third quarter, holding stakes worth roughly $527 million. With 4.74 million shares, SailingStone Capital Partners is the leading shareholder of Range Resources Corporation (NYSE:RRC) stock at the close of the third quarter.
On January 3, Mizuho analyst Vincent Lovaglio lowered the firm’s price target on Range Resources Corporation (NYSE:RRC) to $24 from $28, and reiterated a ‘Neutral’ rating on the company shares, noting that price target was lowered taking into account lower price expectations for natural gas in 2022 and 2023, although he believes the energy sector is “poised for another year of outperformance” in comparison to the broader market.
4. Southwestern Energy Company (NYSE:SWN)
Kopernik Global Investors’ Stake Value: $97.88 million
Percentage of Kopernik Global Investors’ 13F Portfolio: 10.98%
Number of Hedge Fund Holders: 22
Southwestern Energy Company (NYSE:SWN) is a Texas-based energy company that deals in oil, natural gas, and natural gas liquids (NGLs).
On January 3, Mizuho analyst Vincent Lovaglio reiterated a ‘Buy’ rating on Southwestern Energy Company (NYSE:SWN) shares, and lowered the price target to $7 from $8, noting that the energy segment was well-positioned for yet another year of outperformance.
Kopernik Global Investors reported owning 17.66 million shares in Southwestern Energy Company (NYSE:SWN) at the end of the third quarter, with a combined value of $97.88 million which represents 10.98% of the fund’s total holdings. 22 hedge funds out of 867 tracked by Insider Monkey were long Southwestern Energy Company (NYSE:SWN) at the end of Q3 2021, down from 27 in the quarter before.
3. KT Corporation (NYSE:KT)
Kopernik Global Investors’ Stake Value: $106.48 million
Percentage of Kopernik Global Investors’ 13F Portfolio: 11.95%
Number of Hedge Fund Holders: 12
According to regulatory filings for the third quarter, KT Corporation (NYSE:KT) was the third-largest holding of Kopernik Global Investors, with 7.81 million shares valued at $106.48 million, which accounts for 11.95% of the fund’s overall portfolio. This is an increase of 14% over the preceding quarter, where Kopernik Global held 6.89 million shares in the company.
KT Corporation (NYSE:KT) is a provider of integrated telecommunication services and is based in South Korea. It also provides internet, media content and software development services. The company’s revenue for Q3 stood at $3.94 billion, which was above estimates by $30.61 million.
In December, KT Corporation (NYSE:KT) announced a $5 million equity investment in NeuroSigma, which is the maker of the first device-based, non-drug therapy to treat pediatric ADHD approved by the FDA.
Out of all the hedge funds tracked by Insider Monkey, 12 reported holding stakes in KT Corporation (NYSE:KT) at the close of the third quarter, with a combined value of $166.76 million. This is down from 14 hedge funds holding stakes worth $181.36 million in the company in Q2 2021.
Investment firm Bonhoeffer Capital Management talked about KT Corporation (NYSE:KT) in its Q1 2021 investor letter. Here’s what the fund said:
“For one of our telecom holdings, KT Corp, we are seeing signs of corporate actions (such as spinoff and JVs) in both foreign comparables (as described above for TI) and domestic competitors like SK Telecom, which recently announced spinoff plans for its non-telecom assets. As mentioned previously, KT has a treasure trove of non-telecom assets, like real estate and media content, that could be spun off. KT has also announced a share buyback of 5% of its stock and returning 50% of its net profits as dividends to shareholders, in addition to investing in growth strategies. In my opinion, these changes are not reflected in the current stock price.”
2. Turquoise Hill Resources Ltd. (NYSE:TRQ)
Kopernik Global Investors’ Stake Value: $169.81 million
Percentage of Kopernik Global Investors’ 13F Portfolio: 19.05%
Number of Hedge Fund Holders: 10
Turquoise Hill Resources Ltd. (NYSE:TRQ) is a Canadian mining company that explores copper, gold, and silver deposits.
David Iben’s Kopernik Global Investors owns 11.5 million shares in Turquoise Hill Resources Ltd. (NYSE:TRQ), as reported by filings for the third quarter. This represents 19.05% of the fund’s overall portfolio and is an increase of 15% over Q2 2021 where the fund held 10.05 million shares in the company.
On January 10, Canaccord analyst Dalton Baretto upgraded Turquoise Hill Resources Ltd. (NYSE:TRQ) to ‘Hold’ from ‘Sell’, revising the price target to C$21 from C$12.50. Baretto cited the positive outlook on commodities in 2022 and the company’s pending agreement with the Mongolian government to restructure their mining contract as reasons for the upgrade. In partnership with Rio Tinto (NYSE:RIO) and the Mongolian government, Turquoise Hill Resources Ltd. (NYSE:TRQ) operates the Oyu Tolgoi gold and copper mine in Mongolia.
As of the third quarter, 10 out of 867 elite hedge funds tracked by Insider Monkey reported owning shares in Turquoise Hill Resources Ltd. (NYSE:TRQ), worth roughly $563 million. With 18.7 million shares valued at $276 million, Pentwater Capital Management is the leading shareholder in Turquoise Hill Resources Ltd. (NYSE:TRQ).
1. Cameco Corporation (NYSE:CCJ)
Kopernik Global Investors’ Stake Value: $194.86 million
Percentage of Kopernik Global Investors’ 13F Portfolio: 21.87%
Number of Hedge Fund Holders: 35
With approximately 9 million shares valued at $194.86 million and representing 21.87% of its overall portfolio, Cameco Corporation (NYSE:CCJ) is the largest holding of David Iben’s Kopernik Global Investors in the third quarter of 2021. This holding shows a decrease of 3% over the previous quarter.
Cameco Corporation (NYSE:CCJ) is a mining company based in Saskatoon, Canada, that deals in the provision of Uranium. On November 3, BofA analyst Lawson Winder upgraded Cameco Corporation (NYSE:CCJ) to ‘Buy’ from ‘Neutral’, upping the price target to C$40 from C$36.25. The analyst cited a bullish outlook on uranium prices in 2022, and the rising acceptability of nuclear energy as an alternative to carbon sources as reasons for his upgrade.
You can also take a look at 10 Best Stock Picks and Investments Of Billionaire Chamath Palihapitiya and 11 Best Natural Gas Stocks To Buy Now.
