Top 5 Stock Picks of David Iben’s Kopernik Global Investors

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).