Market Analysis
WATCH: Stock picks — New Gold Platinum ETF and Absa Group
Independent analyst Frans de Klerk chose New Gold Platinum ETF as his stock pick of the day and Graeme Körner from Körner Perspective chose Absa Group. De Klerk said the platinum price was at a decade low and the rand slowly starting to weaken. “If you want to start buying, one should do a small amount over the next couple of months, but the technical buy will be at R107,49. This is a medium- to long-term investment of six months or more,” he said. Körner said investors would get a dividend yield of more than 6% and a forward price-earnings ration of eight or more. “Yes, the company has gone through some management difficulties, but it also creates new exciting opportunities. It is a much better business than it is given credit for.”
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