Inflation concerns are disrupting the stock market, but some picks could benefit from the rise in commodity prices. Gold is a promising target for investment because it usually rises in value along with inflation. Gold is also a strong investment from the viewpoint of alternative investors because the metal is used extensively in future-focused technologies like microprocessors, batteries, and solar panels. Kinross Gold Corp. (NYSE: KGC) is a bargain stock that is ideal for the current market conditions.
Kinross is based in Canada but operates internationally. It has major assets in the United States. In addition to gold, it is also a major silver producer. Earnings are expected to grow at a rate close to 30% over the next year, which could help to attract new investment and boost the stock price.
The stock has underperformed in the year to date. Rising inflation and potential increased demand for gold could change this. The current average target price of $11.71 suggests a strong upside is available for investors who buy now. The high-end target of $15.77 suggests even stronger gains if market momentum favors this pick. For its low cost and high potential, Kinross is one of the best bargain stock picks today.
- 1 Year Price Growth: 46%
- YTD Price Growth: -6.27%
- 3 Month Price Growth: -5.36%
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.