Billionaire John Paulson’s 10 Stocks with Huge Upside Potential

2. Seabridge Gold Inc. (NYSE:SA)

Paulson & Co.’s Stake: $23.62 million

Number of Hedge Fund Holders: 20

Average Upside Potential as of May 2: 208.44%

Seabridge Gold Inc. (NYSE:SA) acquires and explores gold properties in North America. It explores for gold, copper, silver, and molybdenum deposits. It was formerly known as Seabridge Resources Inc. and changed its name to Seabridge Gold Inc. in June 2002.

The company has about $150 million in cash as of Q3 2024, which puts it in a good position to push its main projects forward. Seabridge recently updated the resources at KSM’s Iron Cap and Kerr deposits and showed 5.9 million more ounces of gold, 3.3 billion more pounds of copper, and 55.4 million more ounces of silver.

In Q3, Seabridge Gold Inc. (NYSE:SA) also hit a key regulatory target when British Columbia declared the KSM project as ‘Substantially Started’. This status means KSM’s Environmental Assessment Certificate stays valid indefinitely. The company also got its Mitchell Treaty Tunnels License of Occupation extended by 20 years. Furthermore, KSM’s early-stage construction is advancing on schedule during the quarter.