Keeping abreast of what’s growing and what’s not on the sharemarket is always a fun way to pass the time. One week’s heroes might be the next week’s zeros and vice versa, so its always important to keep on your toes if you’re a growth investor, especially if you like the odd momentum play.
Here are two ASX growth stocks I’m looking at this week (no WAAAX stocks this time, they’re in the doghouse).
Newcrest Mining Limited (ASX: NCM)
If you hadn’t already noticed, a certain yellow metal is the talk of the town right now. Increased global tensions and trade war brinkmanship has driven the price of gold to a 7-year high of more than US$1,450 per ounce. It gets even better for Aussie goldbugs. Thanks to our low exchange rate, gold has never been pricier in Australian dollars, costing more than $2,140 per ounce right now.
If you just got engaged, it might be a bleak time to go ring shopping, but for ASX gold miners, it’s raining…well, cash. With fixed costs, commodity price rises like these mean pure profit for miners – and lots of it. Newcrest shares have already risen more than 70% in 2019 so far, and if current trends continue, NCM shares might be knocking on the $40 per share level soon. It’s one area that’s going to have a lot of attention for the near future at least, so keep an eye on Newcrest!
Stockland Corporation Ltd (ASX: SGP)
This one’s a bit of a curveball, but real estate investment trusts (REITs) have been the dark horses of the ASX in 2019 so far. Lowering interest rates have pushed up the attractiveness of solid income-generating shares like REITs and Stockland has been a strong performer in 2019 so far. SGP shares have already seen a YTD rise of over 35%, but will still net you a 5.93% distribution yield on today’s prices. With interest rates tipped to keep going down, I think REITs like Stockland might be a good bandwagon to jump on before the market yells timber and beats us to it.
No one wants to hear about yesterday’s growth story, but I think these two shares might have a part to play in tomorrow’s. Both the REIT and the gold sectors have building tailwinds and now is a good time to have a think about your exposure.
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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.