Billionaire hedge fund manager John Paulson appears to be bullish on gold miners as his fund, Paulson & Co., holds several mining stocks.
What To Know: Paulson is well-known for betting against the housing market in 2006 and profiting about $20 billion when subprime mortgage bonds collapsed. He has been gathering gold mining stocks for years and with the price of gold climbing more than 29% in 2024, investors may be interested in which companies Paulson & Co. holds.
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Paulson's Holdings: The Paulson & Co. fund is heavily invested in mining stocks which together make up more than 33% of the total portfolio. Paulson's other holdings include mostly shares of healthcare and financial services companies.
According to the fund's most recent 13F filing, Paulson & Co.'s largest gold miner holding is a $231.6 million stake in Perpetua Resources Corp. (NASDAQ:PPTA), a development-stage mining company primarily focused on the exploration and restoration of the Stibnite Gold Project in Idaho.
Perpetua Resources stock is up nearly 300% in 2024.
The fund also holds a $111 million stake in Novagold Resources Inc. (AMEX:NG) which owns 50% of the Donlin Gold project located in southwestern Alaska.
International Tower Hill Mines, Ltd. (AMEX:THM), a gold miner with mines in Canada, Mexico, Finland, and Australia, is one of two penny stock holdings found in Paulson's fund. The other is Trilogy Metals Inc. (AMEX:TMQ) with mineral resource properties including the Upper Kobuk Mineral Projects in Alaska.
Seabridge Gold, Inc. (NYSE:SA), Equinox Gold Corp. (AMEX:EQX) and Iamgold Corp. (NYSE:IAG) round out the remainder of Paulson's gold mining holdings.
Notably, the fund closed its position in AngloGold Ashanti Plc (NYSE:AU), selling nearly 2 million shares in the third quarter of 2024.
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