In this piece, we will take a look at the five mining stocks to buy according to John Paulson’s Paulson & Co. If you want to discover more stocks and learn about the hedge fund, head on over to 10 Mining Stocks to Buy Today According to John Paulson’s Paulson & Co.
5. APA Corporation (NASDAQ:APA)
Paulson & Co’s Stake Value: $80 million
Percentage of Paulson & Co’s 13F Portfolio: 2.48%
Number of Hedge Fund Holders: 42
APA Corporation (NASDAQ:APA) is an oil and gas miner headquartered in Texas, United States. The company has facilities in the U.S., U.K., and in Egypt. Additionally, it also has a presence in the South American country of Suriname.
Mr. Paulson’s hedge fund owned 3 million APA Corporation (NASDAQ:APA) shares by the end of the fourth quarter of last year. This translated into an $80 million stake which represented 2.48% of the firm’s investment portfolio. During the same time period, 42 of the 924 hedge funds polled by Insider Monkey had invested in the firm.
APA Corporation (NASDAQ:APA) earned $2.3 billion in revenue and $1.29 in non-GAAP in its fourth fiscal quarter, missing analyst EPS estimates but beating them for revenue. Barclays set a $53 price target for the company in April 2022, as it reinstated coverage.
APA Corporation (NASDAQ:APA)’s largest investor is Natixis Global Asset Management’s Harris Associates which owns 19 million shares worth $514 million.
Ariel Investments mentioned the company in its fourth quarter 2021 investor letter. Here is what the firm said:
“We continue to believe recent aggressive fiscal and monetary policy will drive high levels of intransient (rather than transitory) inflation. Recent inflation numbers have exceeded our hawkish predictions. While we believed the Consumer Price Index might rise +4% in 2021, double the Fed target of +2%; it rose +7%, the highest level in forty years. Ariel Focus Fund has been well positioned for this environment as natural resource and material companies such as APA Corporation (APA) which returned +90.76% for the year. This was one of our two largest holdings at year-end and have performed well very early into 2022.”
4. Barrick Gold Corporation (NYSE:GOLD)
Paulson & Co’s Stake Value: $86 million
Percentage of Paulson & Co’s 13F Portfolio: 2.66%
Number of Hedge Fund Holders: 46
Barrick Gold Corporation (NYSE:GOLD) is a Canadian gold mining company headquartered in Toronto. It has interests in gold mines in a variety of countries such as Canada, Argentina, the Dominican Republic, Mali, Tanzania, and the U.S.
For its fiscal Q4, Barrick Gold Corporation (NYSE:GOLD) raked in $3.3 billion in revenue and $0.35 GAAP EPS for a strong set of results that pleased Wall Street by beating analyst estimates for both metrics. Jefferies raised its price target to $24 from $23 in March 2022, outlining that the mining market is ready to enter a bull year.
Paulson & Co. held 4.5 million Barrick Gold Corporation (NYSE:GOLD) shares worth $86 million as the fourth quarter of last year came to an end. The stake represented 2.66% of its portfolio. Insider Monkey’s Q4 2021 survey of 924 hedge funds revealed that 46 had held a stake in the company.
Jean-Marie Eveillard’s First Eagle Investment Management is Barrick Gold Corporation (NYSE:GOLD)’s largest investor, holding a $510 million stake that comes through 26 million shares.
3. Perpetua Resources Corp. (NASDAQ:PPTA)
Paulson & Co’s Stake Value: $117 million
Percentage of Paulson & Co’s 13F Portfolio: 3.62%
Number of Hedge Fund Holders: 9
Perpetua Resources Corp. (NASDAQ:PPTA) is an American company involved in mineral exploration in the United States. It owns a gold project in Valley County, Idaho, and is involved in the exploration of gold, silver, and antimony.
As Q4 2021 came to an end, Mr. Paulson’s hedge fund held a $117 million stake in Perpetua Resources Corp. (NASDAQ:PPTA) via owning 24 million shares. During the same time period, 9 of the 924 hedge funds polled by Insider Monkey had invested in the firm.
Perpetua Resources Corp. (NASDAQ:PPTA) reported $35.9 million net loss by the end of its fiscal year 2021, marking a significant drop over the $220 million net loss that it reported the year prior. B. Riley set a $22 price target for the company in April 2022, stating that the company’s gold project in Idaho is the strongest in the industry and that its share price does not account for this.
After Paulson & Co., Peter Franklin Palmedo’s Sun Valley Gold is Perpetua Resources Corp. (NASDAQ:PPTA)’s largest investor. It has a $20 million stake that comes through holding 5 million shares.
2. AngloGold Ashanti Limited (NYSE:AU)
Paulson & Co’s Stake Value: $125 million
Percentage of Paulson & Co’s 13F Portfolio: 3.86%
Number of Hedge Fund Holders: 15
AngloGold Ashanti Limited (NYSE:AU) is a South African gold mining company headquartered in Johannesburg. It has a mining project in Tanzania, and in addition to gold, the firm is also involved with silver and sulphuric acid.
For its fiscal H1, AngloGold Ashanti (NYSE:AU) reported $2 billion in revenue and $0.59 in non-GAAP EPS. This marked a 16% annual drop in the company’s revenue. Deutsche Bank raised its price target to $28 from $24 in March 2022, as it outlined that if the sanctions against Russia are sustained, they could lead to greater interest in the American mining industry.
Paulson & Co.’s stake in AngloGold Ashanti Limited (NYSE:AU) was equal to $125 million by the end of 2021’s final quarter. This came through the firm owning 5.9 million shares and it represented 3.86% of its investment portfolio. Insider Monkey scanned 924 hedge fund portfolios for Q4 2021 and discovered that 15 contained the company’s stock.
AngloGold Ashanti Limited (NYSE:AU)’s largest investor after Paulson & Co. is Cliff Asness’s AQR Capital Management which owns 5.4 million shares worth $114 million.
1. NovaGold Resources Inc. (NYSE:NG)
Paulson & Co’s Stake Value: $152 million
Percentage of Paulson & Co’s 13F Portfolio: 4.7%
Number of Hedge Fund Holders: 18
NovaGold Resources Inc. (NYSE:NG) is a Candian company involved in the exploration and development of gold properties in the United States. The company has a project in Alaska that covers tens of thousands of acres.
By Q4 2021 end, Mr. Paulson’s hedge fund owned 22 million NovaGold Resources Inc. (NYSE:NG) shares which were worth $152 million and represented 4.7% of its investment portfolio. Insider Monkey’s survey of 924 hedge funds for the same time period revealed that 18 had invested in the company.
NovaGold Resources Inc. (NYSE:NG) posted -$0.03 in GAAP EPS for its fiscal first quarter, meeting analyst estimates for the metric. During the same time period, the company had $155 million in cash and term deposits.
After Paulson & Co., Jean-Marie Eveillard’s First Eagle Investment Management is NovaGold Resources Inc. (NYSE:NG) largest investor, holding 11 million shares worth $79 million.
Disclosure: None. You can also take a look at 13 Best Hemp Stocks to Buy Now and Top 15 Dividend Stocks With Upside Potential.
