Today’s daily gainers are International Tower Hill Mines Ltd (NYSEMKT:THM), Whirlpool Corporation (NYSE:WHR), AngloGold Ashanti Limited (NYSE:AU) and daily losers are Pretium Resources Inc. (NYSE:PVG), Netflix, Inc. (NASDAQ:NFLX), Coach, Inc. (NYSE:COH).
International Tower is today’s top performing stock
Gold mining company International Tower Hill Mines Ltd (NYSEMKT:THM) had a major gain today and is up +12.58% to $0.39. With 17.8 million shares, THM represents 0.07% of John Paulson’s portfolio. The billionaire bought almost nine million shares last quarter and paid an average price of $2.78 for each of his assets.
Seth Klarman: Investors Can No Longer Rely On Mean Reversion
"For most of the last century," Seth Klarman noted in his second-quarter letter to Baupost's investors, "a reasonable approach to assessing a company's future prospects was to expect mean reversion." He went on to explain that fluctuations in business performance were largely cyclical, and investors could profit from this buying low and selling high. Also Read More
The second company on our daily gainers list is Whirlpool Corporation (NYSE:WHR), a manufacturer of home appliances. The stock shot up +11.06% today, reaching $145.45 after beating its expected earnings for Q3 ($2.72 as opposed to the anticipated $2.64). David Tepper owns 500,000 Whirlpool shares, representing 0.83% of his holdings. The billionaire paid $63.63 per share, meaning a gain of 126.87% in this position. Another investor with WHR stakes is Ray Dalio, who holds 9,000 shares (0.01% of his fund). Dalio paid $121.25 per share.
The last firm on our gainers list today is another gold company, AngloGold Ashanti Limited (NYSE:AU). The stock is up +8.69% and now trading at $16.20, thanks to an increase in the price of gold. Billionaire Paulson holds 27.9 million AU shares, representing 2.82% of his portfolio. Paulson paid an average price of $14.08 per share. Ray Dalio has a position in AU as well and owns 214,000 shares, representing 0.03% of his holdings. Dalio paid an average price of $27.24.
On top of the daily losers list is Pretium Resources Inc (NYSE:PVG). The mineral mining firm dropped -26.13% to $3.42 today. The cause: reported initial processing results for the material excavated from the Valley of the Kings Bulk Sample Program, which apparently misses its target. The billionaire affected by this movement is Seth Klarman, who holds 156,000 shares (0.03% of his portfolio) acquired at an average price of $7.21 each last quarter.
Following Pretium Resources is online movie service Netflix, Inc. (NASDAQ:NFLX). Its stock price fell to $324.35 (-8.33%) following an earnings report evidencing a miss in gross margin earnings. Carl Icahn holds 5.5 million Netflix shares (5.44% of his fund) and paid just $69.39 per share. With 315,000 shares, NFLX represents 1.16% of Tiger Global’s holdings. The fund paid an average price of $144.23 per share. Another billionaire with NFLX stakes is George Soros, who owns 40,000 shares, representing 0.09% of his holdings. Each asset cost Soros $144.23, less than today’s price.
Last up is Coach, Inc. (NYSE:COH). Its stock price decreased -8.02% to $49.83 after the cases and accessories company reported earnings falling short of expectations. The only billionaire tracked by iBillionaire with a position in COH is Steve Mandel, who holds 5.8 million shares (1.63% of his fund), bought at $54.45 per share.