#7 - Kinross Gold (NYSE:KGC)
In times of market volatility, precious metals are usually considered to be a safe haven asset and a hedge against inflation. But that hasn’t been the case so far in 2022. However, true believers in the value and importance of having precious metals in your portfolio may find Kinross Gold (NYSE:KGC) attractive.
The Canadian-based company is involved in the acquisition and development of gold properties primarily in eight countries. The company is also involved in the extraction and processing of gold-containing ores, reclamation of gold-mining properties as well as the production and sale of silver.
The headwind for the company at the moment is that it’s seeing falling year-over-year earnings. And KGC stock is down 21% in the last 12 months and 8% in 2022 alone. For most of 2021, that was understandable as investors flooded to cryptocurrency. However, with crypto assets being whipsawed by the current market sell-off, gold is likely to start looking more attractive which is a bullish argument for Kinross Gold.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.
Read More - Current Price
- $9.25
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 2 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $11.13 (20.3% Upside)
If you're still not sure that mid-cap stocks are right for you, a good way to gain exposure to mid-cap stocks is through mutual funds and exchange-traded funds (ETFs) that focus on mid-cap stocks. Last year, mid-cap stocks outperformed the broader market. And investing in a fund that focuses on mid-cap companies is a way to get diversification with companies that are still growing.
Today, there are mutual funds for just about every investment objective and risk tolerance. For example, the Fidelity Index Mid Cap Fund (NYSEARCA:FSMD) closely tracks the Russell Midcap index and is heavily weighted to the technology, industrials, consumer cyclical and financial services sectors.
And we all know that homebuilder stocks have done well. So it should be no surprise that one of the best-performing mid-cap ETFs is the SPDR S&P Homebuilders ETF (NYSEARCA:XHB).
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