According to BI gold prices are in meltdown mode today and gold stocks are also getting crushed. The precious metal fell below $1,300 an ounce, the lowest level in two years.
Let's do a quick scoreboard check of closely-followed billionaire hedge fund manager John Paulson, who has been long a bunch of gold stocks. Here's a rundown of his gold stock holdings based on the most recent securities filing for the first quarter ended March 31. Keep in mind, it is possible that he could have pared back some of his stakes in these stocks.
Allied Nevada Gold (1,502,184 shares in Q1): The stock was last trading down at $6.52 per share or down about 8.68%. The stock hit a 52-week low of $6.51 today.
(31,290,050 shares in Q1): The stock was
last trading down at about $14.59 per share or down about 3.81%. The stock hit
a 52-week low of $14.35 today.
Barrick Gold (360,000 shares in Q1): The stock was last trading down at about $17.00 per share or down about 5.63%. It hit a 52-week low of $16.45 today.