Commodities & Metals

5 Gold-Mining Stocks Still Expected to Surge Higher and Outperform in 2020

Newmont Goldcorp Corp. (NYSE: NEM) was last seen trading at $40.95 per share, implying 14.7% upside to its consensus target price of $46.98, before taking its 1.35% dividend yield into consideration. It has a 52-week trading range of $29.77 to $41.41. Newmont recently announced a $1 billion buyback after support from a unit sale and operational forecast for upside ahead, and the new target from Deutsche Bank was still almost $1 under the consensus rating, despite its Buy rating. The recent combination of Newmont and Goldcorp has a market cap of nearly $34 billion, and the stock was last seen up 21% so far in 2019.

Barrick Gold Corp. (NYSE: GOLD) recently traded at $17.35, with a $31 billion market cap. Its consensus target price is $20.39, implying 17.5% upside, before accounting for its 1.15% dividend yield. Toronto-based Barrick has a 52-week trading range of $11.52 to $20.07. Independent research outfit Argus recently assigned an even more aggressive $22 target price on the stock. Barrick’s recently closed acquisition of Randgold made it the second-largest pure-play gold stock traded in the United States on major exchanges. Its shares were last seen up about 28% year to date, and in recent days Barrick agreed to sell its 90% stake in the Massawa gold asset to Teranga Gold for up to $430 million.

Agnico Eagle Mines Ltd. (NYSE: AEM) has closer to a $14 billion market cap, and the $59.70 recent share price and the $69.72 consensus target price imply upside of 16.9%, before taking its 1.1% dividend into consideration. Toronto-based Agnico Eagle Mines has a 52-week trading range of $38.17 to $64.88. The shares were last seen up over 45% year to date.

AngloGold Ashanti Ltd. (NYSE: AU) still has an $8.1 billion market cap, and the recent share price of $19.50 and the consensus target price of $24.11 imply upside of 23.6%. AngloGold Ashanti is from South Africa and has a 52-week trading range of $11.29 to $23.85. That’s not bad, considering it was up more than 50% so far in 2019.

Kinross Gold Corp. (NYSE: KGC) was trading at $4.25, with a $5.3 billion market cap. The stock has pulled back handily since its summer high of close to $5.50 (but still managed well over a 40% gain in 2019), and Wall Street (despite many low analyst ratings) still somehow has a $5.69 consensus price target. This represents nearly 34% upside, and it just secured up to $300 million with the IFC and others in loans for its Tasiast operation in Mauritania. The Toronto-based gold player has a 52-week range of $2.85 to $5.47.

Investors should keep in mind that it was just about four months ago that calls for $2,000 gold were coming back into mind. That’s obviously widely more aggressive than the consensus expectations. There are many things to add up in the case for gold, and we did not even address the dollar and bitcoin for reference here.

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