The presidential election is less than one month away. The stock market will likely prove quite volatile leading up to the big day. Most expect that the election results will be contested, which will add to the volatility even after the election.
Gold is an investment that investors often turn to in uncertain times like these. Which is why this might be a good time to establish positions in gold mining stocks.
However, there are all sorts of mining companies to choose from. Instead of analyzing the pros and cons of each mining stock on your own, narrow your focus to those highlighted by our investing gurus.
Here is a look at three gold mining stocks every investor should consider adding to their portfolio as November 3rd quickly approaches: Barrick Gold Corporation (GOLD), Agnico Eagle Mines Limited (AEM) and Kinross Gold Corporation (KGC).
Barrick Gold Corporation (GOLD)
GOLD is a Toronto-based mining business focused on exploration and development.
GOLD’s operations span five continents, making it the largest gold miner on the planet. GOLD has more than 70 million ounces of gold in its reserves. The company also has 13 billion pounds of copper. Even if GOLD’s operations are not significantly improved in the short-term and little changes in terms of its fourth-quarter outlook, the stock will likely increase as money shifts out of overpriced tech stocks into safe havens such as precious metals.
GOLD has “B” grades in each POWR Rating component but for its Industry Rank. However, of 30 stocks in the Miners – Gold category, GOLD is ranked #1. According to TipRanks, the top analysts are quite bullish on GOLD, setting a price target of $32.27, indicating there is nearly 20% upside remaining.
The fact that GOLD has reduced its debt load by more than 10% is icing on the cake. GOLD could move toward its 52-week high over $31 if the price of the precious metal rises above $2,000.
Agnico Eagle Mines Limited (AEM)
AEM is one of the world’s top gold producers. The company has mining operations throughout Canada, Finland and Mexico. AEM is also conducting gold exploration in Europe, the United States and Latin America.
AEM has solid POWR Ratings, highlighted by an “A” Peer Grade. AEM is ranked second of 30 Miners – Gold stocks. Check out the top analysts’ take on AEM and you will find the outlook is…
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