continues to reach new heights, driven by hopes of a geopolitical crisis, the US-China trade war and the US government shutdown. On Thursday morning, it hit a record $4,254 an ounce, up 26% over the past three months.
which had been slower to move, also posted strong gains, hitting a record high of $52.86 today, up 36% over the past six months.
Many experts expect this progress to continue. Several banks, including BofA, now expect gold to reach $5,000 an ounce by the end of next year.
Silver looks even stronger, with analysts at Solomon Global and BNP Paribas targeting $100, nearly double its current price.
The sharp rise in precious metals helped companies in the metals and mining sector. The leading ETF in this space, the SPDR S&P Metals and Mining ETF (NYSE: XME), has gained 48% over the past three months.
In this context, investing in stocks in this sector could be a wise decision. The sector has also been supported by recent strategic investments by the US government, not in gold or oil, but in companies focused on metals and rare earths.
To find the best opportunities in metals and mining stocks in the coming months, we used the Investing.com filter. Our goal was to identify the most undervalued stocks in the sector.
We used the following filters:
Industry: metals and mining Market capitalization: more than $50 million Upside potential: more than 10% according to InvestingPro Fair Value InvestingPro Health Score: greater than 2.5 out of 5
Note: InvestingPro Fair Value calculates an intelligent average of several recognized valuation models for each stock on the market. The Health Score, for its part, is based on several key financial indicators and comparisons with peers to assess the financial strength of companies. If you are not already an InvestingPro subscriber, click here to subscribe now!
This research identified 11 actions:
Although the basic functions of the screener are available for free, some criteria used in this search are reserved for subscribers to the InvestingPro, Pro+ plans. If this applies to you, click here to access this research…
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