As a service to Money Morning readers, we've compiled a list of 10 cheap platinum stocks under $20 right now…
|Platinum Stock||Current Share Price||2017 Return|
|Stillwater Mining Co. (NYSE: SWC)||$17.43||+8.2%|
|Vedanta Ltd. (NYSE ADR: VEDL)||$16.23||+30.6%|
|Compania de Minas Buenaventura SAA (NYSE ADR: BVN)||$12.43||+9.6%|
|Pretium Resources Inc. (NYSE: PVG)||$11.07||+34.3%|
|Ferroglobe Plc. (Nasdaq: GSM)||$9.92||-8.4%|
|Vale SA (NYSE ADR: VALE)||$9.28||+22%|
|Ivanhoe Mines Ltd. (TSE: IVN)||$4.64||+83.1%|
|Impala Platinum Holdings Ltd. (OTCMKTS ADR: IMPUY)||$3.44||+8.9%|
|Platinum Group Metals Ltd. (NYSEMKT: PLG)||$1.56||+9.1%|
|Polymet Mining Corp. (NYSEMKT: PLM)||$0.75||+0.7%|
The best-performing platinum stock under $20 this year has been Ivanhoe Mines. Shares of the Vancouver-based miner have soared 83.1% from $2.54 to $4.64.
While we don't specifically recommend this stock, these big gains align with Money Morning Resource Specialist Peter Krauth's bullish expectations for platinum over the long term. In fact, he expects platinum prices to outperform gold and silver prices by a massive margin in 2017.
And there are three big factors fueling his bullish price prediction this year…
The most fundamental factor behind Krauth's platinum price forecast is the metal's rarity. Because platinum is extremely difficult to extract, mining companies rack up high operating costs, which lowers the incentive to drill for platinum. That's why global gold output in 2016 was 17 times bigger than global platinum output.
Another important factor that will push the price of platinum higher is the gold price rally. Because gold is overwhelmingly popular in terms of trading volume, it acts as a barometer for the rest of the precious metals sector.
In other words, strong demand for physical gold leads to strong demand for physical platinum and silver.
But there's a third factor that could have the biggest influence on platinum prices in 2017. It has to do with the largest source of industrial platinum demand, which makes up about 43% of all consumed platinum in the world.
Here's our shocking platinum price forecast for 2017, which shows how the metal could hand you strong double-digit returns by the year's end…