Billionaire John Paulson’s 5 Biggest Stock Picks

4. NovaGold Resources Inc. (NYSE:NG)

Paulson’s Stake Value: $178 million

Percentage of John Paulson’s 13F Portfolio: 4.25%

Number of Hedge Fund Holders: 18

NovaGold Resources Inc. (NYSE:NG) ranks fourth on our list of billionaire John Paulson’s 10 biggest stock picks. Operating as a mining company, NovaGold Resources Inc. (NYSE:NG) is focused on the exploration and development of gold mining properties, with an increasing interest in the Donlin gold mine in Alaska.

For the second quarter of 2021, John Paulson’s hedge fund held more than 22.2 million shares of NovaGold Resources Inc. (NYSE:NG), amounting to more than $178 million in worth and representing 4.25% of the fund’s portfolio. By the end of the second quarter of 2021, 18 hedge funds out of the 873 tracked by Insider Monkey held stakes in NovaGold Resources Inc. (NYSE:NG) worth roughly $292 million, up from 15 hedge funds in the preceding quarter with stakes worth approximately $310 million.

NovaGold Reources Inc. (NYSE:NG) reported its second quarter earnings per share at -$0.03, in-line with the estimated EPS for that quarter. Additionally, the company received $75 million from Newmont Corporation (NYSE:NEM) according to their Share Purchase Agreement established in 2018, with an additional $25 million expected in July of 2023.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm First Eagle Investment Management is one of the leading shareholders in NovaGold Resources Inc. (NYSE:NG), with over 11.5 million shares worth more than $92 million.