Clinton-Backer George Soros Gets Out of Gold ETF Just in Time, Whiffs on Barrick Gold (ABX)

Barrick Gold Corporation (USA) (NYSE:ABX)

– Shares Held By Soros Fund Management (as of September 30): 2.85

– Value of the Holding (as of September 30): $50.54 Million

While Soros Fund Management sold its entire holding in the SPDR Gold Trust (ETF) during the third quarter, it increased its stake in Barrick Gold Corporation (USA) (NYSE:ABX) by 166% during the same time. Due to the decline in gold prices, Barrick Gold Corporation (USA) (NYSE:ABX)’s stock has also cooled down a little in the current quarter, but it is still trading up by 133.41% for the year. For its most recent quarter, the gold mining company reported EPS of $0.24 on revenue of $2.30 billion versus analysts’ estimate of EPS $0.20 on revenue of $2.25 billion. For the same quarter of the previous year, Barrick Gold had declared EPS of $0.11 on revenue of $2.32 billion.

 – Related Reading : The Biggest Mines in the World

TiVo Corp (NASDAQ:TIVO)

– Shares Held By Soros Fund Management (as of September 30): 4.12 Million

– Value of the Holding (as of September 30): $80.28 million

TiVo Corp (NASDAQ:TIVO)’s stock was a new addition to Soros Fund Management’s equity portfolio during the third quarter. Prior to that, the fund held convertible debt of the company, which it had acquired during the second quarter and liquidated during the third quarter. Although shares of the software services company have remained mostly range-bound since mid-2012, they have appreciated by 26.5% so far in 2016. On November 3, TiVo Corp (NASDAQ:TIVO) reported its fiscal 2016 third quarter numbers, declaring net income of $49.9 million on revenue of $153.1 million. For the same quarter of last year, the company had declared a net loss of $18.5 million on revenue of $114.9 million.

Williams Companies Inc (NYSE:WMB)

– Shares Held By Soros Fund Management (as of September 30): 3.17 Million

– Value of the Holding (as of September 30): $97.45 Million

Williams Companies Inc (NYSE:WMB) made its debut in Soros Fund Management’s equity portfolio during the third quarter and was the fund’s eighth-largest position, in terms of value, at the end of that period. Williams Companies Inc (NYSE:WMB) lost a major chunk of its market cap during the second-half of 2015, but has managed to recoup some of that this year. A significant amount of the gain that the stock has seen this year can be attributed to Keith Meister and his hedge fund Corvex Capital, which has held an active stake in the company for the past several quarters and forced it to revamp its Board recently. Earlier this year, Williams Companies slashed its quarterly dividend from $0.64 per share to $0.20 per share, which still translates into a respectable forward yield of 2.65%. According to a lot of analysts, while the dividend cut may have made the stock unattractive to potential investors in the short-term, it will help the company in the long run. On November 11, analysts at Citigroup reiterated their ‘Buy’ rating on the stock, while upping their price target on it to $32 from $30.

Disclosure: None