In this article, we discuss the 5 best stocks under $20 according to Jim Simons’ Renaissance Technologies. If you want our detailed analysis of these stocks, go directly to 10 Best Stocks Under $20 According to Jim Simons’ Fund.
5. Barrick Gold Corporation (NYSE:GOLD)
Renaissance Technologies’ Stake Value: $196,941,000
Percentage of Renaissance Technologies’ 13F Portfolio: 0.25%
Number of Hedge Fund Holders: 41
Share Price as of December 7: $18.56
Barrick Gold Corporation (NYSE:GOLD), a Toronto-based gold and copper mining company, is one of the best stocks in Jim Simons’ fund priced at under $20. Barrick Gold Corporation (NYSE:GOLD), on November 4, announced earnings for Q3. EPS in the period amounted to $0.24, beating estimates by $0.01. The quarterly revenue came in at $2.83 billion, down 20.17% year-over-year, missing estimates by $48.74 million.
Renaissance Technologies holds 10.91 million Barrick Gold Corporation (NYSE:GOLD) shares as of September 2021, worth almost $197 million, representing 0.25% of the fund’s total Q3 securities.
One of the leading Barrick Gold Corporation (NYSE:GOLD) stakeholders from the third quarter is Kerr Neilson’s Platinum Asset Management, holding a $128.8 million position in the company. Overall, 41 hedge funds monitored by Insider Monkey were long Barrick Gold Corporation (NYSE:GOLD) in Q3, down from 47 funds in the previous quarter.
On November 17, Canaccord analyst Carey MacRury lowered the price target on Barrick Gold Corporation (NYSE:GOLD) to C$31 from C$32 and kept a Buy rating on the shares.
Ariel Investments mentioned Barrick Gold Corporation (NYSE:GOLD) in its Q2 2021 investor letter. Here is what they said:
“We re-initiated a position in Barrick Gold Corp. (GOLD) in the quarter. Its shares fell -5.56% from our initiation to the end of the quarter as the price of gold trended lower. Gold exceeded $2,000 per ounce in 2020 but has since declined to approximately $1,812 per ounce. Barrick’s shares have often traded at elevated PE multiples. However, at the current reduced stock price, it is trading at a PE multiple of only 16 times next year’s earnings, an attractive opportunity in our opinion, given our expectation of higher inflation and gold’s historic role as an inflationary hedge.”
4. Mobile TeleSystems Public Joint Stock Company (NYSE:MBT)
Renaissance Technologies’ Stake Value: $204,420,000
Percentage of Renaissance Technologies’ 13F Portfolio: 0.26%
Number of Hedge Fund Holders: 6
Share Price as of December 7: $7.97
In Q3 2021, Jim Simons’ Renaissance Technologies reduced its stake by 5% in Mobile TeleSystems Public Joint Stock Company (NYSE:MBT), which is the largest mobile network operator from Moscow, Russia. The hedge fund holds a $204.42 million position in Mobile TeleSystems Public Joint Stock Company (NYSE:MBT), which accounts for 0.26% of the Q3 13F securities.
Mobile TeleSystems Public Joint Stock Company (NYSE:MBT) announced Q3 results on November 17. EPS in the period amounted to $0.27, missing estimates by -$0.04. The revenue equaled $1.90 billion, missing estimated revenue by $14.64 million.
Renaissance Technologies is the leading stakeholder of Mobile TeleSystems Public Joint Stock Company (NYSE:MBT), followed by Israel Englander’s Millennium Management holding a $13.37 million stake in the company in the third quarter. Overall, 6 hedge funds were bullish on Mobile TeleSystems Public Joint Stock Company (NYSE:MBT) in Q3, down from 10 funds in the preceding quarter.
3. Palantir Technologies Inc. (NYSE:PLTR)
Renaissance Technologies’ Stake Value: $311,547,000
Percentage of Renaissance Technologies’ 13F Portfolio: 0.40%
Number of Hedge Fund Holders: 35
Share Price as of December 7: $19.69
Palantir Technologies Inc. (NYSE:PLTR) is an American tech company specializing in big data analytics. In the third quarter, Renaissance Technologies increased its stake by 1520% in Palantir Technologies Inc. (NYSE:PLTR), holding almost 13 million shares worth $311.5 million. The Palantir Technologies Inc. (NYSE:PLTR) stock accounts for 0.4% of Renaissance Technologies’ Q3 portfolio.
On November 9, Palantir Technologies Inc. (NYSE:PLTR) reported earnings for Q3, announcing an EPS of $0.04, in line with analysts’ consensus estimates. The revenue equaled $392.15 million, increasing 35.52% year-over-year, outperforming estimates by $5.86 million.
Palantir Technologies Inc. (NYSE:PLTR) and Kinder Morgan, Inc. (NYSE:KMI) announced on December 2 a partnership deploying Palantir Technologies Inc. (NYSE:PLTR)’s data integration software platform, Foundry, in Kinder Morgan, Inc. (NYSE:KMI)’s storage operations to increase efficiency and safety, in order to optimize the company’s US based gas storage operations.
Cathie Wood’s ARK Investment Management is the largest stakeholder of Palantir Technologies Inc. (NYSE:PLTR) as of Q3, with 37.2 million shares amounting to $895.3 million. Overall, 35 hedge funds in the third quarter were long Palantir Technologies Inc. (NYSE:PLTR), up from 26 funds in the preceding quarter.
2. Exelixis, Inc. (NASDAQ:EXEL)
Renaissance Technologies’ Stake Value: $370,954,000
Percentage of Renaissance Technologies’ 13F Portfolio: 0.47%
Number of Hedge Fund Holders: 30
Share Price as of December 7: $16.62
Exelixis, Inc. (NASDAQ:EXEL) is a California-based drug discovery company employing genomics technology to conduct clinical trials for cancer treatments. Reducing its stake in Exelixis, Inc. (NASDAQ:EXEL) by 3% in the third quarter, Renaissance Technologies holds 17.54 million shares in Exelixis, Inc. (NASDAQ:EXEL), worth approximately $371 million, with the stock accounting for 0.47% of the hedge fund’s total portfolio.
On November 2, Exelixis, Inc. (NASDAQ:EXEL) posted its Q3 results. EPS in the quarter came in at $0.20, missing estimates by -$0.07. The $328.42 million revenue was up 42.12% year-over-year, but missed estimates by $28.64 million.
Piper Sandler analyst Do Kim on November 18 assumed coverage of Exelixis, Inc. (NASDAQ:EXEL) with an Overweight rating and a $34 price target, down from $36, stating that the company’s products had potential to grow revenues despite ongoing patent litigation.
Farallon Capital is one of the largest Exelixis, Inc. (NASDAQ:EXEL) stakeholders as of Q3 2021, with 9.65 million shares valued at $204.2 million. Overall, 30 hedge funds in the Q3 database of Insider Monkey were bullish on Exelixis, Inc. (NASDAQ:EXEL), down from 33 funds in the preceding quarter.
1. Vodafone Group Public Limited Company (NASDAQ:VOD)
Renaissance Technologies’ Stake Value: $441,526,000
Percentage of Renaissance Technologies’ 13F Portfolio: 0.57%
Number of Hedge Fund Holders: 18
Share Price as of December 7: $14.86
Vodafone Group Public Limited Company (NASDAQ:VOD) stock accounts for 0.57% of Jim Simons’ Renaissance Technologies’ Q3 portfolio, with the hedge fund holding a $441.5 million stake in the company, making it the best stock under $20 according to Jim Simons’ fund. Vodafone Group Public Limited Company (NASDAQ:VOD) is a British multinational communications company operating in Asia, Africa, Europe, and Oceania.
On November 18, UBS analyst Polo Tang raised the price target on Vodafone Group Public Limited Company (NASDAQ:VOD) to £188 from £187 and kept a Buy rating on the shares.
Vodafone Group Public Limited Company (NASDAQ:VOD) announced a semi-annual €0.045 per share dividend on November 23, payable on February 4 2022 to shareholders of record on November 25.
Arrowstreet Capital owns 3.6 million shares of Vodafone Group Public Limited Company (NASDAQ:VOD), valued at $55.6 million, making it one of the leading company stakeholders out of the 18 hedge funds that were bullish on Vodafone Group Public Limited Company (NASDAQ:VOD) in the third quarter.
You can also take a look at 11 Best Robinhood Stocks To Buy According To Hedge Funds and 10 New Stocks in Kamyar Khajavi’s MIK Capital.
