Published on 28 May 2024 on Insider Monkey via Yahoo Finance
We recently covered billionaire Paulson's most favorite metals and mining stocks. NovaGold Resources Inc (NYSE:NG) is part of the list. In this article we take a closer look at the stock. But first, let's see what Paulson is up to these days.
Billionaire John Paulson made a strong comeback last year after suffering heavy losses from his healthcare bets in 2022. According to data from Bloomberg, Paulson's funds returned about 32% in 2023, driven by gains from some of the best-performing mining, healthcare and financial stocks. Bloomberg also said that the 68-year-old billionaire, who is one of Donald Trump's favorite candidates for the Treasury secretary role, was picking up momentum this year, with his funds gaining about $600 million in 2024 through mid-April.