Baupost Group Boosts Stake In Novacopper Inc

Baupost Group has boosted its stake in Novacopper Inc to 10.73 %, according to a 13G filing with the SEC. The famous value hedge fund, founded by Seth Klarman, had owned 4,600,000 shares, or 9.86% of the Canadian based company. Baupost Group now controls 5,005,298 shares of the company. Baupost Group remains the third largest shareholder of the metals exploration company. The largest shareholder of Novacopper is Electrum Strategic Resources, L.L.C. with  8,872,033 shares, followed by John Paulson’s Paulson & Co with 5,921,608 shares. The metals company has a market capitalization of $82 million, making this a tiny transaction for the $25 billion hedge fund. However, it could indicate…