In an interview Tuesday, Evercore ISI’s senior managing director Julian Emanuel talked about the market volatility we’ve experienced in 2022 and what he expects for the market going forward. According to Emanuel, “The Fed basically came out sounding more hawkish than expected,” and the “yield-sensitive growth sector” went through a significant sell-off due to increasing bond rates. Evercore ISI analysts state that “post-midterms tend to be very good for stocks.”
The Nasdaq has lost 35% of its value since the start of the year, the S&P 500 has plummeted 22.3%, and the Dow has lost 12.38% as of November 4th. Stocks are falling to new lows while yields are rising. However, for the long-term investor, this may be the time to buy some dips. Finding reputable businesses whose shares have declined dramatically and are currently trading at a P/E ratio of under 15x is the goal.
Join me while I break down three lucrative opportunities for long-term investors that shouldn’t be overlooked. Priced at a bargain, economists agree that we should be buying:
Barrick Gold Corp (GOLD)
Barrick Gold Corporation (GOLD) explores, develops, produces, and sells assets for gold and copper. GOLD holds ownership stakes in producing gold mines in Canada, Argentina, the Dominican Republic, Tanzania, the Democratic Republic of the Congo, and the United States. Additionally, GOLD owns stakes in several projects spread across the Americas and Africa, including copper mines in Zambia, Saudi Arabia, and Chile. GOLD, based in Canada, was established in 1983 and headquartered in Toronto.
At the end of 2022’s second quarter, 40 hedge funds collectively owned positions in GOLD worth $1.13 billion. As an investor, this tells me that experienced financial institutions are on board; GOLD’s performance can do most of the talking: For its Q3 earnings report, GOLD showed revenue of $2.53 billion (beating analysts’ projections by 17.97%), with an EPS of 13 cents per share. As of early November, it has a P/E ratio of 13.81, and GOLD boasts a market cap of $24.64 billion. GOLD currency has a dividend yield of 3.87%, with a quarterly payout of 55 cents per share. Thanks to the analysts that provide 12-month pricing estimates; GOLD has a consensus median price target of 21.00, with a high of 27.00 and a low of 15.00. This is a 34.49% increase over current pricing and is considered one of the most undervalued across the entire market. The buy rating makes perfect sense.
Marathon Oil Corp (MRO)
Marathon Oil Corp (MRO) is an American hydrocarbon exploration firm founded in Ohio and has its headquarters in Houston, Texas’ Marathon Oil Tower. MRO’s worldwide gas activities are concentrated in Equatorial Guinea, off the coast of Central Africa, and it is a direct descendant of Standard Oil. MRO had 972 million barrels of oil equivalent in estimated proved reserves last year, with 86% of those located in the U.S. and the other 14% in Equatorial Guinea. Petroleum made up 52% of the MRO’s proven reserves, followed by natural gas (30%) and natural gas liquids (18%). MRO sells hundreds of thousands of barrels of oil equivalent per day.
MRO is popular among investors and traders alike. MRO has shown the market how resilient it can be to the point where you have to wonder if the business was even concerned about the pandemic. MRO has consecutively exceeded analysts’ forecasts for EPS and revenue for a good time now, making it look easy. Q3 resulted in MRO beating EPS and revenue by 5.98% and 10.58%, respectively. Now, for some insane year-over-year growth figures: Revenue is currently +73.07%; Net Income +5,937.5%; EPS +6,750%; Net Profit Margin +3,390.55%; and Operating Income +2,025.93%. MRO has a P/E ratio of 7.59 and can rest easy at night with the $1.26 billion investment in their firm through 41 hedge funds. MRO has a dividend yield of 1.10%, with a quarterly payout of 9 cents a share. From analysts that offer yearly price forecasts, MRO has a consensus median price target of 32.00, with a high of 42.00 and a low of 66.00. MRO’s stock is up 99.24% year-to-date; no wonder it’s been holding a steady buy rating.
Micron Technology Inc (MU)
Micron Technology Inc (MU) is an American company that manufactures computer memory and data storage devices such as USB flash drives, flash memory, and dynamic random-access memory. Under the “Crucial” brand name, MU sells consumer goods, including the Ballistix memory modules. IM Flash Technologies, which developed NAND flash memory, was a joint venture between MU and Intel (INTC). Headquartered in Boise, Idaho, MU was founded on October 5th, 1978.
MU is a world leader in semiconductors and is positioned to increase its market share and maintain its position. You might find MU the right stock to add to your portfolio, particularly if you’re a long-term investor. Like its peers but moreso, MU is regarded as one of the most undervalued stocks on the market today, if not the most. Sixty-nine individual hedge funds own shares of MU, which collectively amounts to $2.16 billion. MU continuously succeeds in beating analysts’ quarterly projections on EPS, having beaten forecasts for a long time now. MU currently has a P/E ratio of 7.25x, and the market cap as of November is $61.06 billion. MU currently has a dividend yield of 0.80%, with a quarterly payout of 11 cents per share. From the analysts that do annual pricing estimates, MU has a consensus median price target of 67.00, with a high of 100.00 and a low of 45.00. This shows an increase of 16.56% from the last price, and MU has a buy rating that feels like it belongs there.
Banking Regulator Warns Americans to Pay Attention to Friday, Nov 11
If it feels like you’re working harder than ever, saving more… AND GETTING LESS.
If it feels like no matter how well your investments do, you’re falling further and further behind…
I’ve got some news for you…
Trust your instincts.
You’re absolutely right.
Which is why I’m urging all Americans to get ready for Friday, November 11.
Most Americans don’t know the REAL REASON things have gotten so warped in America…
They don’t know why the system is working great for a select few…
But is a complete disaster for everyone else.
Most don’t know how this Friday, November 11 could be a major turning point for your financial future.
I’m in a unique position to know why…
Hi, my name is Louis Navellier.
42 years ago I was a federal banking regulator.
I saw from the inside how the government corrupted the value of our money…
I saw how it destroyed the little guy… and made the rich richer.
I learned why my blue-collar parents worked so hard in the 1970s, but never got ahead.
So I did what any self-respecting, hardworking American would do…
I quit.
With some saved-up cash—and an idea about how the markets really worked…
I started my own investment firm.
Over time, my beliefs about money, hard work, and fiscal responsibility — which my father instilled in me from a young age — were proven correct.
Today, my firm, Navellier & Associates, manages over $2 billion in assets. Some 200 pension and institutional money managers have entrusted us with their money.
Look…
I definitely DO NOT believe America’s best days are behind us.
That said… as a family man who’s spent more than 40 years at the apex of Wall Street…
I definitely DO believe you are 100% responsible for understanding the incredible force creating the large and expanding chasm between the Haves and the Have Nots…
Most Americans are completely unprepared for a new financial event about to make it even worse.
I definitely believe you are 100% responsible for protecting your own family and taking a few simple preparations, especially when they are so cheap and easy to do…
The first step you need to take is mark your calendar for this Friday, November 11
Everything you need to know is in my new video, linked below, free for public view.
Click the “Watch Now” button below to get the full story.
