(GuruFocus, December 3, 2009) Yahoo! Financial has a two-part series (Part 1 and Part 2 on John Paulson, the second part of which deals with his next big bet on Gold.
Watch the videos featuring Gregory Zuckerman, author of _The Greatest Trade Ever
:
Like Jean-Marie Eveillard, whose Gold Mining companies we just reviewed, John Paulson invests in Gold bullions as well as in Gold Mining stocks. As of September 30, 2009, he has a total of $2.7 billion or 13.35% of his equity portfolio invested in Gold Mining companies:
A brief survey of these stocks:
AngloGold Ashanti Limited (AU, Financial)
AngloGold Ashanti Limited (AngloGold Ashanti) is a global producer of gold. AngloGold Ashanti has 21 operations and a number of exploration programs in gold-producing regions of the world. During the year ended December 31, 2008, the Company produced 4.98 million ounces of gold from its operations. AngloGold Ashanti’s main product is gold. Revenue is also derived from the sales of silver, uranium oxide and sulphuric acid.
The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia. Anglogold Ashanti Ltd. has a market cap of $13.19 billion; its shares were traded at around $46.93 with a P/E ratio of 41.1 and P/S ratio of 3.5. The dividend yield of Anglogold Ashanti Ltd. stocks is 0.3%.
Kinross Gold Corporation (KGC, Financial)
Kinross Gold Corporation (Kinross) is engaged in the mining and processing of gold and as a by-product, silver ore, and the exploration for, and the acquisition of, gold bearing properties in the Americas, the Russian Federation and worldwide.
Kinross Gold Corp. has a market cap of $15.27 billion; its shares were traded at around $21.97 with a P/E ratio of 68.7 and P/S ratio of 9.5. The dividend yield of Kinross Gold Corp. stocks is 0.5%. Kinross Gold Corp. had an annual average earning growth of 12% over the past 5 years.
Gold Fields Limited (GFI, Financial)
Gold Fields Limited is a South Africa-based gold producing company with a production of 3.6 million ounces per annum from eight operating mines in South Africa, Ghana, Australia and Peru. A ninth mine, Cerro Corona Gold/Copper mine in Peru was opened in 2008.
Gold Fields Ltd. has a market cap of $11.15 billion; its shares were traded at around $15.82 with a P/E ratio of 24.7 and P/S ratio of 3.4. The dividend yield of Gold Fields Ltd. stocks is 0.9%. Gold Fields Ltd. had an annual average earning growth of 2.8% over the past 10 years.
Conclusion
John Paulson is managing something like $30 billion. The pursuit for performance demands him making mega-bets on a finite number of investment theses. Gold is just one them, financial companies is another.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and John Paulson for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
Watch the videos featuring Gregory Zuckerman, author of _The Greatest Trade Ever
: Like Jean-Marie Eveillard, whose Gold Mining companies we just reviewed, John Paulson invests in Gold bullions as well as in Gold Mining stocks. As of September 30, 2009, he has a total of $2.7 billion or 13.35% of his equity portfolio invested in Gold Mining companies:
| Symbol | Price ($) | Region | Market Cap ($M) | Number of Shares | Value ($1000) | Percentage (%) | % of Company |
|---|---|---|---|---|---|---|---|
| AU | 46.93 | Africa | 13187.3 | 42849864 | 1,746,560 | 8.54 | 15.25 |
| KGC | 21.97 | Canada | 15267.7 | 30780800 | 667,943 | 3.26 | 4.43 |
| GFI | 15.82 | Africa | 11150.7 | 23000000 | 316,940 | 1.55 | 3.26 |
| Total | 2,731,443 | 13.35 |
A brief survey of these stocks:
AngloGold Ashanti Limited (AU, Financial)
AngloGold Ashanti Limited (AngloGold Ashanti) is a global producer of gold. AngloGold Ashanti has 21 operations and a number of exploration programs in gold-producing regions of the world. During the year ended December 31, 2008, the Company produced 4.98 million ounces of gold from its operations. AngloGold Ashanti’s main product is gold. Revenue is also derived from the sales of silver, uranium oxide and sulphuric acid.
The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market, particularly in Asia. Anglogold Ashanti Ltd. has a market cap of $13.19 billion; its shares were traded at around $46.93 with a P/E ratio of 41.1 and P/S ratio of 3.5. The dividend yield of Anglogold Ashanti Ltd. stocks is 0.3%.
Kinross Gold Corporation (KGC, Financial)
Kinross Gold Corporation (Kinross) is engaged in the mining and processing of gold and as a by-product, silver ore, and the exploration for, and the acquisition of, gold bearing properties in the Americas, the Russian Federation and worldwide.
Kinross Gold Corp. has a market cap of $15.27 billion; its shares were traded at around $21.97 with a P/E ratio of 68.7 and P/S ratio of 9.5. The dividend yield of Kinross Gold Corp. stocks is 0.5%. Kinross Gold Corp. had an annual average earning growth of 12% over the past 5 years.
Gold Fields Limited (GFI, Financial)
Gold Fields Limited is a South Africa-based gold producing company with a production of 3.6 million ounces per annum from eight operating mines in South Africa, Ghana, Australia and Peru. A ninth mine, Cerro Corona Gold/Copper mine in Peru was opened in 2008.
Gold Fields Ltd. has a market cap of $11.15 billion; its shares were traded at around $15.82 with a P/E ratio of 24.7 and P/S ratio of 3.4. The dividend yield of Gold Fields Ltd. stocks is 0.9%. Gold Fields Ltd. had an annual average earning growth of 2.8% over the past 10 years.
Conclusion
John Paulson is managing something like $30 billion. The pursuit for performance demands him making mega-bets on a finite number of investment theses. Gold is just one them, financial companies is another.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and John Paulson for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
