Gold Gold futures were up almost 13% at the end of the second quarter, the highest quarterly gain in the last four years. Some analysts are predicting that gold prices will hit record highs by the end of the year, bolstered by high demand and the market’s relative stability in the face of the Coronavirus Pandemic.

Gold isn’t just for speculators. It’s an important material used in manufacturing, especially electronics, electric vehicles, and alternative energy. For bargain investors who want a complementary stock for a solar, lithium, or electric vehicle portfolio, Kinross Gold Corp. (NYSE: KGC) is an ideal fit.

Kinross is a Canadian gold company with production and exploration activities in its home country, the United States, Russia, Brazil, Ecuador, Chile, Mauritania, and Ghana. With improved output and a competitive gold market, Kinross increased its revenue by 11.44% in 2019, while gross income increased by 94.65%. It ended the year with a gross profit margin of 24.43% and an EBITDA margin of 38.56%.

Momentum in this stock has been building as investors continue to see the value in gold. There’s still an expected upside with an average target price of $8.44. This target could be revised upwards if gold futures continue to soar. For its connection to alternative energy and its growth potential, this is a bargain stock worth considering in July.

Key Data:

  • 1 Year Price Growth: 01%
  • YTD Price Growth: 32%
  • 3 Month Price Growth: 41%

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.