If You Thought Ron Paul's Investments In Big Gold Miners Were Doing Badly, Check Out His Investments In 'Juniors'

ron paul

Photo: Courtesy of CNN

Earlier today we revisited former Texas Congressman Ron Paul’s precious metal-heavy portfolio. Paul is one of the most famous advocates of gold as an investment, so we took a look at how his 64 per cent precious metal portfolio was handling the recent crash in the price of gold.

We took a look at the three major mining stocks that the Wall Street Journal described as the largest of Paul’s holdings. Here’s what has happened to them in the past six months:

  • Newmont Mining Company: –24.17%
  • Goldcorp Holdings: –24.21%
  • Barrick Gold: –27.14%

While those were reported as his largest holdings, Paul did report owning shares of a swathe of “junior” mining companies, considered smaller and riskier bets.
We took a look at how those mining companies performed in the past six months. The result is a series of brutal losses: 

  • Agnico Eagle Mines :  –20.6%
  • Allied Nevada Gold Corp: –49.03%
  • Alumina Common: +51.28 %
  • Anglo Gold Ashanti Ltd. –29.55%
  • BrigusGold Corp. Com MPV: –23.39%
  • Claude Research Inc: –46.67%
  • Coeur D’Alene Mines Corp: –24.92%
  • Hecla Mining Co: –26.94
  • El Dorado Gold Corp: Not Listed
  • IAM Gold Corp: –54.54%
  • Kinross: – 17.42%
  • Lexam Explorations Inc: – 29.41%
  • Mag Silver Corp: –17.39%
  • Metalline Mining Co: Not Listed
  • Pan American Silver: –17.55%
  • Silver Wheaton Corp: –15.57%
  • Virginia Mines Inc: +5.15%
  • Vista Gold Corp. –48.32%
  • Viterra Inc +0.62%
  • Wesdome Gold Mines Ltd: –38.21%

Looking at the 20-one publicly listed mining companies in the Ron Paul portfolio,  the average return on investment was a dismal –22.62% over the past six months.

Given that the Wall Street Journal reported that Paul’s portfolio was worth between $2.44 million and $5.46 million — and that 64 per cent of his assets were in these precious metal stocks — a very loose estimate is that Ron Paul has lost between $353,204 and $790,366 over the past six months, based on the average loss of his mining holdings.

The moral of the story: don’t just be in gold related assets.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In

politics-us ron paul