These Gold Mining Stocks Under $10 are Poised to Explode

3. Kinross Gold Corporation (USA) (NYSE:KGC)

Investors with Long Positions (as of June 30): 23

Aggregate Value of Investors’ Holdings (as of June 30): $227.77 Million

We will now turn our attention to a pure gold play stock, Kinross Gold Corporation (USA) (NYSE:KGC). The number of hedge funds monitored by our team with positions in the stock was up by four at the end of June, but the overall value of their holdings fell by $56.77 million, which should not be attributed to the company’s stock performance. Nevertheless, the stock’s performance has surely disappointed some of the company’s shareholders, as it has lost 38% since the beginning of the year. The Canadian miner has been working on reducing costs to combat the slumping metal prices and recently reduced its capital spending forecast to $650 million from $725 million. David Dreman’s Dreman Value Management added a 493,553 share-position in Kinross Gold Corporation (USA) (NYSE:KGC) during the June quarter.