These Gold Mining Stocks Under $10 are Poised to Explode

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1. Barrick Gold Corporation (USA) (NYSE:ABX)

Investors with Long Positions (as of June 30): 42

Aggregate Value of Investors’ Holdings (as of June 30): $1.64 Billion

Barrick Gold Corporation (USA) (NYSE:ABX) is by far the most favorite gold mining stock under $10 among the hedge funds within our database. The number of hedge funds invested in the stock at the end of the second quarter was up by one, while the value of these investments increased by $236.25 million during that period. The world’s largest gold producer has been undergoing massive cost reduction efforts lately. At the same time, the company intends to sell six of its US gold mines and projects, in an attempt to reduce its debt by at least $3 billion and strengthen its balance sheet. First Eagle Investment Management, founded by Jean-Marie Eveillard, boosted its stake in Barrick Gold Corporation (USA) (NYSE:ABX) by 39% during the recent quarter to a holding of 40.38 million shares.

Disclosure: None

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