Billionaire John Paulson’s Latest Portfolio: Top 5 Stock Picks

4. NovaGold Resources Inc. (NYSE:NG)

Paulson & Co’s Stake Value: $152,472,000

Percentage of Paulson & Co’s 13F Portfolio: 4.70%

Number of Hedge Fund Holders: 18

NovaGold Resources Inc. (NYSE:NG) is a Canadian company that owns and develops gold mineral properties in the United States. John Paulson’s Paulson & Co held 22.2 million shares of NovaGold Resources Inc. (NYSE:NG) in the fourth quarter of 2021, worth $152.4 million, representing 4.70% of the hedge fund’s total 13F portfolio. 

On February 7, RBC Capital analyst Michael Siperco assumed coverage of NovaGold Resources Inc. (NYSE:NG) with a Sector Perform rating and an $8.00 price target. The analyst is positive on the top quality deposits and the likelihood of over 1 million oz per year production for the company’s Donlin project for the next 30 years. However, he maintains a “more conservative” long-term gold price projection of $1,500 per oz. 

According to Insider Monkey’s Q4 data, 18 hedge funds were bullish on NovaGold Resources Inc. (NYSE:NG), up from 16 funds in the previous quarter. First Eagle Investment Management is a prominent stakeholder of the company, with 11.5 million shares worth $79.5 million.