“It’s going to be a stock picker’s market — not just for metals, for everything,” said Thom Calandra of the Calandra Report.
As countries around the world begin to emerge from coronavirus lockdowns, global markets could be gearing up for an interesting summer.
That’s according to Thom Calandra of the Calandra Report. Speaking to the Investing News Network, he said that small-cap stocks in diverse sectors could be set to soar.
“I think we’re going to see small-cap craziness in everything. I think the summer’s going to make people feel like, ‘Hey, I’ll play this game,'” he said.
Calandra anticipates a “crazy period” similar to what was seen in the late 1990s and early 2000s. “I mean like 10 cent stocks going to $20 in short periods of time,” he said. “It’s going to be a stock picker’s market — not just for metals, for everything. And I think the small caps especially will get their fair value due.”
Speaking about how his portfolio has performed so far this year, which has of course been dominated by the COVID-19 outbreak, Calandra said he’s “being floated up along with central bank balance sheets.”
He explained, “My portfolio on the metals side has been terrific. The laboratory stocks, as in biopharma, have been terrifically volatile. Many of the metals companies, whether it’s tiny ones, explorers that I’ve owned for years, have finally come back into the black.”
Overall, Calandra is optimistic about the future for resource space — he thinks it will be a big year for mergers and acquisitions, and said a much higher gold price is on the way for many reasons.
“I think it’s going to easily surpass US$2,000 (per ounce) — as you know … I’m one of those people who believe that gold one day will go so high that we won’t be able to measure it in paper currencies. We’ll have to measure it in purchasing power,” he explained.
Watch the interview above for more from Calandra on how mining companies have reacted to COVID-19, how he’s investing right now and what advice he has during the current environment.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.