John Feneck, partner and portfolio manager at Feneck Consulting, shared his thoughts on gold, silver, copper and uranium, outlining his outlook for these commodities and stocks he’s currently watching.
Starting with gold, he said he thinks it’s proven itself as a safe-haven asset, with more ‘smart money’ now getting involved. At the same time, he sees gold-mining companies starting to put on positive performances.
‘We’re off to the races in gold producers in terms of doing well at the earnings level, and that gets the attention of big money … (and) that’s what’s needed to generate more interest in the space,’ Feneck said.
In terms of silver, he’s encouraged to see it getting close to the crucial US$30 per ounce level after last year’s rangebound trading. Moving forward, it’s possible US$25 to US$26 may become support instead of resistance.
Precious metals stocks on his radar at the moment include Newmont Mining (TSX:NGT,NYSE:NEM), Dakota Gold (NYSEAMERICAN:DC), Golden Cariboo Resources (CSE:GCC,OTC Pink:GCCFF), PTX Metals (CSE:PTX,OTCQB:PANXF), Guanajuato Silver Company (TSXV:GSVR,OTCQX:GSVRF) and Silver X Mining (TSXV:AGX,OTCQB:AGXPF).
Copper prices have also rising in 2024, and Feneck is looking at small- and mid-cap companies that haven’t moved yet. Among those are NevGold (TSXV:NAU,OTCQX:NAUFF) and Vortex Metals (TSXV:VMS,OTCQB:VMSSF).
Moving over to uranium, Feneck remains bullish and is interested in juniors. He mentioned F3 Uranium (TSXV:FUU,OTCQB:FUUFF) and Standard Uranium (TSXV:STND,OTCQB:STTDF) as companies on his list.
Watch the interview above for more from Feneck on the resource sector and the companies he’s eyeing.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.