Gold is heavily utilized in the manufacturing of semiconductors, solar panels, and battery cell products. For alternative investors, the gold market is a reliable area of investment. Gold prices have surged during the Coronavirus Pandemic, and stocks have strong momentum and more potential for growth. Eldorado Gold Corp. (NYSE: EGO) is one of the best picks to consider today.
Eldorado is a mining company with two solid years of revenue growth behind it. In 2019, revenue increased by 37.48%, while gross income increased by 200.76%. The company is profitable with a gross margin of 14.81% and an even stronger EBITDA margin of 33.94%.
The price is on track to reach the average target of $12.69, and there is enough momentum to carry it even higher. With gold prices at a ten year high, revenue is likely to increase in 2020. Another year of fiscal growth will drive investor activity, which could generate strong returns for investors who buy today. For a bargain focused portfolio, this alternative stock is hard to ignore.
- 1 Year Price Growth: 09%
- YTD Price Growth: 55%
- 3 Month Price Growth: 72%
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.