Gold and silver are two of the most valuable and most important metals found on earth. These metals can be found in automotive products, batteries, solar panels, and even microprocessors. Alternative investors looking for a strong complementary stock for their energy picks can consider Gold Resource Corp. (NYSE: GORO) in 2020.
Gold Resource Corp. produces gold and silver in Mexico and Nevada. It also produces other materials including copper, lead, and zinc, all of which are used in battery manufacturing and the electric vehicle industry. Recently, the price of gold has been soaring, which could help to boost the company’s 2020 revenue. Both investors and analysts are optimistic that growth is on the horizon. The stock has rallied this year thanks to investor activity, and analysts still see an upside with an average target price of $7.25 today.
The company has recently increased its production, thanks to the successful opening of its Isabella Pearl mine in Nevada. Reserves are likely to increase, thanks to more efficient drilling and exploration methods on its existing properties. With no major capital expenditure plans on the immediate horizon, cash flow is also likely to increase in the short term. All of this combines to make one of the most promising gold picks in the bargain market today.
- 1 Year Price Growth: 21%
- YTD Price Growth: 15%
- 3 Month Price Growth: 37%
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.