#7 - Coeur Mining (NYSE:CDE)
The last stock on our list of precious metals stocks to buy is Coeur Mining (NYSE:CDE). The company is a diversified precious metals producer that operates five mines across North America. This is one of the oldest miners, with over 90 years of experience which makes it a stable alternative despite being in a high beta sector. This is partly evidenced in the nearly 60% institutional ownership in the stock.
The company has seen a gain of over 400% since the selloff sparked by the novel coronavirus. Part of that was due to the company’s ability to get mining operations up and running at the same time that commodity prices were rising.
Investors looking to buy Coeur Mining may want to wait until the company’s earnings report is released in late April. Around that time, analysts may weigh in with a more favorable outlook. Right now, they project CDE stock to fall about 8%.
About Coeur Mining
Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.
Read More - Current Price
- $5.75
- Consensus Rating
- Buy
- Ratings Breakdown
- 5 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $7.81 (35.9% Upside)
Some investors may believe that rising yields and a stronger dollar will dilute the value of precious metals. Hopefully as you’ve gone through this presentation, you can see that just as Bitcoin may be the building block for a lot of cryptocurrencies; gold is only the beginning of building a precious metals portfolio.
In fact, the “typical” precious metals portfolio is likely to include gold, silver, platinum, and palladium. The latter two are used in many of the sectors that will drive the economy forward.
And with many of those sectors expected to continue to be the growth sectors for the next several years, the table is set for nice growth in precious metals. Plus you get the peace of mind that comes from knowing they will always be a port in the storm.
Investors who are concerned about investing in a single metal or any single company (like the ones in this presentation) may want to consider one of the many precious metals exchange-traded funds that focus on precious metals.
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