Billionaire John Paulson Bullish On Gold Miners, Including This Penny Stock

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.

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. 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. NG which owns 50% of the Donlin Gold project located in southwestern Alaska.

International Tower Hill Mines, Ltd. 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. TMQ with mineral resource properties including the Upper Kobuk Mineral Projects in Alaska.

Seabridge Gold, Inc. SA, Equinox Gold Corp. EQX and Iamgold Corp. IAG round out the remainder of Paulson's gold mining holdings.

Notably, the fund closed its position in AngloGold Ashanti Plc AU, selling nearly 2 million shares in the third quarter of 2024.

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