Gold (GCZ24) has long been a go-to investment for those looking to protect their wealth from economic ups and downs. And with prices hovering around $2,470 per ounce, up 14.5% YTD, it's clear why. Analysts think it could even hit $3,000 before too long, and expected rate cuts are likely to add support as the U.S. dollar softens. It's no wonder investors are turning to gold mining stocks to get in on the action.
Billionaire John Paulson, who famously predicted the housing market crash in 2008, is one of them. He's got a stake in three gold mining stocks trading under $10: Equinox Gold Corp (EQX), NovaGold Resources Inc. (NG), and Perpetua Resources Corp (PPTA). Along with the billionaire's seal of approval, these stocks have “buy” ratings from analysts and are trading below their average price targets, making them a tempting opportunity for investors who want to follow in Paulson's footsteps.
