Glittering Gains: 3 Stocks to Buy as Precious Metals Prices Surge

InvestorPlace05-28

As gold and silver prices reach multi-year highs, investors are targeting stocks that may capitalize on central banks’ demand and potential Fed rate cuts. Franco-Nevada (FNV): It is ripe for ...

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Load up before they take off.","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","LU1223083913.SGD":"Schroder ISF Global Gold A Acc SGD-H","LU0055631609.USD":"贝莱德世界黄金基金A2","LU1223082196.USD":"施罗德环球黄金A Acc","LU0075056555.USD":"贝莱德世界矿业基金A2","FNV":"Franco Nevada Corp","GOLD":"巴里克黄金","LU0368265764.SGD":"Blackrock World Gold Fund A2 SGD-H","BK4588":"碎股","LU0496367417.USD":"富兰克林黄金和贵金属A（acc）","LU0330918003.SGD":"Blackrock World Mining A2 SGD-H","LU2177674079.SGD":"Fidelity Asia Pacific Opportunities A-ACC-SGD (hedged)","BK4570":"地缘局势概念股","EQX":"EQUINOX GOLD CORP","LU0498741890.SGD":"FTIF - Franklin Gold and Precious Metals A (acc) SGD","SG9999001143.SGD":"United Gold and General A Acc SGD","LU0498741114.HKD":"FRANKLIN GOLD & PRECIOUS METALS \"A\" (HKD) ACC","BK4017":"黄金","BK4532":"文艺复兴科技持仓","LU1023059493.AUD":"Blackrock World Mining A2 AUD-H"},"translate_title":"闪闪发光的收益：贵金属价格飙升，可买入3只股票","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EQX":1,"FNV":1,"GOLD":1},"content_text":"As gold and silver prices reach multi-year highs, investors are targeting stocks that may capitalize on central banks’ demand and potential Fed rate cuts.\nFranco-Nevada (FNV): It is ripe for investment with a P/E of 35x and $2.3 billion in cash, poised for growth in a falling interest rate environment.\nBarrick Gold (GOLD): It plans to boost production by 30%, leveraging low-cost “tier 1” assets and low-interest rates, offering a stable 30% upside.\nEquinox (EQX): It aims to hit one million ounces of gold annually, with Greenstone Mine set to bolster margins and potentially increase its price.\n\n\n\n\n\n \n\nSource: corlaffra / Shutterstock\n\n\n\nLast week, gold and silver hit record highs and investors are pondering which precious metals stocks may follow suit. Gold reached its highest level on record, and silver reached an 11-year high. While precious metal prices have retreated slightly since then, the general trend has been on the upside over recent months. Expectations also rise that this will continue for the rest of the year.Several factors are currently coinciding to push gold and silver prices higher, potentially dragging precious metals stocks up on their way. Demand from central banks remains solid. That is despite higher prices, as banks seek to build reserves in an effort to reduce reliance on the dollar’s dominance as a reserve currency. At the same time, interest rates are forecast to fall in the coming months as the Fed moves to ease monetary policy. Lower interest rates are typically correlated with higher prices for precious metals.\nWith the Fed anticipated to cut rates later this year, three precious metals stocks, including mining and royalty firms, could surge.\nFranco-Nevada (FNV)\nSource: ©iStock.com/TomasSeredaFranco-Nevada (NYSE:FNV) is one of the largest mining royalty companies in the world. It generates income through royalties without the operational risks faced by mining companies owning mines. Precious metals make up over 75.5% of the company’s revenue. Notably, 82.8% of its royalties come from mines in the Americas. This reduces exposure to geopolitical tensions impacting transport routes like the recent Red Sea crisis.\nThe company provides financing for new mining exploration, though its activities have been constrained in the previous two years due to rising interest rates. As interest rates are expected to fall, Franco-Nevada is one of the precious metals stocks that could gain from expanding into new markets. Franco-Nevada has no debt and over $2.3 billion in cash reserves available to expand its operations. The FNV stock trades at a price-to-earnings (P/E) ratio of 35x, which is low relative to its history. Analysts have a positive outlook, with an average price target suggesting over 17% upside from current prices.\nBarrick Gold (GOLD)\nSource: ShutterstockConsidering its ticker, it would be rather strange to leave Barrick Gold (NYSE:GOLD) outside a list of precious metals stocks that could gain from higher precious metals prices. Barrick is the second-largest gold miner in the world by market cap. Its value to investors offers stability in a growing environment over fast but riskier growth in smaller precious metals stocks.\nBarrick has been driven to increase production by 30% by the decade’s end. It follows taking advantage of the low-interest rate environment to buy up assets in the last couple of years. It focuses on so-called “tier 1” assets, such as large gold mines offering economies of scale and reducing costs. In fact, it owns one of the world’s lowest-cost gold mines, Pueblo Viejo in Panama, where it is working hard to increase production.The Barrick stock trades at a P/E ratio of 20.7x, below the average S&P 500 benchmark of 27.5x. According to the average of analyst estimates, Barrick’s stock price could reach $22.08, a potential 30% upside from current levels.\nEquinox Gold (EQX)\nSource: Alexander Limbach / ShutterstockEquinox (NYSEMKT:EQX) is the last pick in this list of precious metals stocks. Currently, in a ramp-up phase, the company operates eight mines, and more are under development. Although it is not generating a profit, it is working to reach its production target of one million ounces of gold per year.\nThe company recently acquired the remaining interest in Canada’s Greenstone gold mine. Greenstone Mine is expected to begin production in the third quarter and will be one of the largest gold mines in Canada. Analysts estimate Equinox will produce gold at a cost of $879 per ounce, less than half the current gold price. That offers Equinox the potential to increase its profit margins substantially.The sole analyst who has reviewed the company remains positive about its prospects. The forecast shows the Equinox stock price could increase to $7.30, representing a 31% rise from the current price.\nOn the date of publication, Stavros Tousios did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nStavros Tousios, MBA, is the founder and chief analyst at Markets Untold. With expertise in FX, macros, equity analysis, and investment advisory, Stavros delivers investors strategic guidance and valuable insights.Industrial, Precious MetalsGrowth Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/05/glittering-gains-3-stocks-to-buy-as-precious-metals-prices-surge/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.0","shortVersion":"4.24.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2438244353"}