The Zacks Analyst Blog Highlights: Kirkland Lake Gold, Equinox Gold, DRDGOLD, Franco-Nevada And Kinross Gold
Zacks Investment Research | Mar 03, 2020 08:41PM ET
For Immediate Release
Chicago, IL – March 4, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Kirkland Lake Gold Ltd. (TSX:KL) , Equinox Gold Corp. (TSX:EQX) , DRDGOLD Ltd. (NYSE:DRD) , Franco-Nevada Corp. (TSX:FNV) and Kinross Gold Corp. (NYSE:KGC) .
Here are highlights from Tuesday’s Analyst Blog:
5 Gold Stocks to Abate Coronavirus-Driven Fears
The Federal Reserve and other central banks across the global are planning to take counter measures to calm investors’ concerns about coronavirus outbreak. With stocks taking a beating, investors are hunting for safe haven assets like gold. With central banks expected to cut rates to stimulate the global economy, investing in gold mining stocks seems prudent. After all, a low interest rate environment bodes well for gold prices.
Confirmed Covid-19 Cases 90,933 and Counting
Coronavirus has spread to various countries, with the global death toll rising to 3,119. So far, it has infected 90,933 people worldwide. It has also blocked global supply chain and forced countries to quarantine and shut down factories.
In the United States, six deaths due to Covid-19 have raised fears of a bigger outbreak. What makes things worse is that there is no cure yet. Drug makers hope to have antiviral treatments ready within a few months and vaccines by next year. Till then, health officials have no option but to issue advisories for prevention. Limiting overseas travel, especially to Japan, Iran and South Korea, can also help to reduce cases of transmission.
In fact, Twitter, Hewlett Packard Enterprise and many more companies have asked employees to work from home and also canceled events or closed offices due to the risk of infections.
The coronavirus outbreak continues to weigh heavily on global economy, with major benchmarks declining more than 10% in the last week of February. However, governments and central banks are preparing to adopt emergency measures and economic packages to fight the slump.
Why Buy Yellow Metal?
With the global economy in turmoil caused by the coronavirus scare, investors are selling off their holdings and hunting for safe-havens like gold. The yellow metal had hit a new seven-year high on Feb 24,and seems to be the most attractive investment right now. In fact, Gold for April delivery rose $28.10, or 1.8%, to settle at $1,594.80 an ounce, on Mar 2. In fact, Gold Apr 20 has gained 4.6% so far this year. (Read More: Original post
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