Top 5 Stocks Picks of Apocalyptic Investor Crispin Odey

3. Barrick Gold Corporation (NYSE:GOLD)

Odey’s Stake Value: $34,525,000

Percentage of Crispin Odey’s 13F Portfolio: 7.76%

Number of Hedge Fund Holders: 47

Barrick Gold Corporation (NYSE:GOLD) is a gold and copper exploration, mine development, production, and selling company.

The hedge fund managed by Crispin Odey owns 1.67 million shares in Barrick Gold Corporation (NYSE:GOLD) worth over $34.53 million, representing 7.76% of their portfolio. Odey Asset Management Group has reduced its stake in the firm by 1% in the second quarter of 2021. Jonathan Dawson’s Southport Management is a leading shareholder in Barrick Gold Corporation (NYSE:GOLD), with 50,000 shares worth more than $1.03 million.

GoodHaven Capital Management, in its fourth-quarter 2020 investor letter, mentioned Barrick Gold Corporation (NYSE:GOLD). Here is what the fund said:

“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.”