Several Of John Paulson's favourite Gold Stocks Are Getting Utterly Pulverized Today

John Paulson $16 billion

Gold prices are in meltdown mode today and gold stocks are also getting crushed.

The precious metal fell below $1,300 an ounce, the lowest level in two years. 

Let’s do a quick scoreboard check of closely-followed billionaire hedge fund manager John Paulson, who has been long a bunch of gold stocks.     

Here’s a rundown of his gold stock holdings based on the most recent securities filing for the first quarter ended March 31.  Keep in mind, it is possible that he could have pared back some of his stakes in these stocks.   

  • Allied Nevada Gold (1,502,184 shares in Q1): The stock was last trading down at $6.52 per share or down about 8.68%.  The stock hit a 52-week low of $6.51 today.
  • Anglogold Ashanti (31,290,050 shares in Q1):  The stock was last trading down at about $14.59 per share or down about 3.81%. The stock hit a 52-week low of $14.35 today.
  • Barrick Gold (360,000 shares in Q1):  The stock was last trading down at about $17.00 per share or down about 5.63%. It hit a 52-week low of $16.45 today. 
  • Gold Fields (6,529,748 shares in Q1): The stock was last trading down at about $5.50 a share or down about 3%.  The stock hit a 52-week low of $5.30 a share today.
  • IAmGold Corp (3,863,912 shares in Q1): The stock was last trading down at about $4.73 per share or down about 3.86%. The stock hit a session low of $4.64 a share. 
  • NovaGold Res (35,933,514 shares in Q1): The stock was last trading down at about $2.1990 per share or down 2.70%.
  • Randgold (926,192 shares in Q1): The stock was last trading down at about $67.19 or down about 4.33%. It hit a session low of $67.03.
  • SPDR Gold Trust (21,837,552 shares in Q1):  Shares were last trading down at about $125.87 or down 3.61%. It hit a 52-week low of $124.87. 

Based on our calculations, Paulson could have lost about $129,368,198 on these holdings so far today. 

Paulson, who famously bet against the subprime housing market, has had a rough go of it during the last two years.  His big bet on gold has not come to fruition, yet. 

Bloomberg News reported earlier this month that Paulson’s gold fund down 54%, according to an investor letter.  

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