In the wake of the Brexit vote, energy, materials and commodity-related companies have come under pressure. And the strong U.S. dollar will continue to pinch the profits of these companies. However, there is one commodity that is prospering in the current environment: gold.
The low interest rate environment, strong U.S. dollar and waning confidence in major central banks has spurred on a stunning rally in the yellow metal. In fact, gold prices are currently trading around $1,375 per ounce, which is up $16 from yesterday.
So it’s no surprise that many analysts have come out of the woodwork, making bullish calls on gold. This morning, UBS analysts predicted that gold prices would climb as high as $1,400 per ounce in the next six months. A Credit Suisse analyst is forecasting gold to surge to $1,500 per ounce by the end of the year or in early 2017. And an HSBC analyst lifted his 2016 price target to $1,275 per ounce and his 2017 target to $1,310 per ounce.
Clearly, most analysts are predicting that gold prices will continue to climb higher in the upcoming months. But what’s the best way to invest in the yellow metal? According to Portfolio Grader, a few precious metals mining companies might be worth a second look…
| Ticker | Company Name | Quantitative Grade | Fundamental Grade | Total Grade |
| AEM | Agnico-Eagle Mines Limited |
A
|
B
|
A
|
| BTG | B2Gold Corp. |
A
|
C
|
A
|
| DRD | DRDGOLD Limited Sponsored ADR |
A
|
B
|
A
|
| GOLD | Randgold Resources Limited Sponsored ADR |
A
|
B
|
A
|
| KGC | Kinross Gold Corporation |
A
|
C
|
A
|
| NG | NovaGold Resources Inc. |
A
|
C
|
A
|
| PVG | Pretium Resources Inc. |
A
|
C
|
A
|
| RIC | Richmont Mines Inc. |
A
|
B
|
A
|
| VGZ | Vista Gold Corp. |
A
|
C
|
A
|
For more ratings on gold companies, be sure to run them through Portfolio Grader.
Have a great weekend,
Louis Navellier