The best stocks to buy in June

The best stocks to buy in June are gold stocks that have recently rebounded while Treasury yields have retreated from highs. Major gold inventories are likely to lead the way in case this rebound continues.

Newmont Corporation

Analysts’ estimates for Newmont have moved higher in recent months, despite the pullback in gold markets.

Currently, the company is expected to report earnings of $4.12 per share in the current year and $4.18 per share in the next year, so the stock is trading at 16 forward P/E.

While Newmont is not extremely cheap, traders are prepared to pay a premium for one of the world’s leading gold mining companies. The stock will remain a major bet on potential upside in the gold markets due to newmont’s size and diversified mining portfolio.

Barrick Gold

Barrick Gold is another leading gold stock that is looking to bounce back after the recent strong pullback. Currently, Barrick Gold is trading at 16 forward P/E, in line with Newmont.

Analysts’ estimates for Barrick Gold have moved a little lower in recent months, and it remains to be seen whether this trend will change in the coming weeks in case gold prices remain close to current levels.

At the same time, the stock will remain a solid bet on the gold markets for the same reasons as Newmont. A reasonable valuation and diversified portfolio of mines will serve as strong catalysts for Barrick in the event that the price of gold continues to rise and stabilizes above recent highs near the $1865 level.

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