If you like to read about stocks, keep up reading as we have brought up with Insider Monkey’s latest article about best gold stocks to buy now using billionaire quant hedge fund Renaissance Technologies’ stock picks. Jim Simons is one of the most successful billionaire hedge fund managers, since he launched Renaissance Technologies Corporation in 1982. His company had profits investments in gold stocks for the whole of this year, but as a matter of fact, RenTech’s computer-based model of forecasting market movements failed to foretell the impacts of pandemic shock on the market. Nevertheless, the company was able to recover the losses in the third quarter of 2020.
And now without a further ado, let’s check out what Insider Monkey has brought up with. We have picked up two companies from the list, as usual. The first one, B2Gold Corp. (NYSEMKT: BTG) stands on the fifth spot of the list. The billionaire hedge fund has been interested in B2Gold for more than five years now. Its stake is $275 million, accounting for 0.28% of the portfolio. B2Gold is a Canada-headquartered gold mining company, that operates in the Philippines, Mali and Namibia. Its shares soared 47% in the last twelve months. according to Insider Monkey’s research, Jim Simmons sold 3% of the stake, gaining the advantage of share price. B2Gold Corp has reported 56% growth in the last quarter. The dividend yield is 2.90%. B2Gold Corp. is followed by Newmont Corporation (NYSE: NEM) on the third spot. Newmont Corporation is a gold producer and explorer company, and is actually the third largest investment of Jim Simons, accounting for 0.51% of the overall portfolio. Newmont had outstanding profits in the third quarter of 2020, and its net income doubled to $697 million. The company has recently increased its quarterly dividend by 60% to $0.40 per share. If you want to get more thought provoking information and data, please click best gold stocks to buy now