Motley Fool Australia

Saracen (ASX:SAR) and 2 more ASX 200 shares to watch this week

man intently watching tv representing seven group share price on watch
Image source: Getty Images

The S&P/ASX 200 Index (ASX: XJO) snapped a losing streak last week as the benchmark index edged 0.1% higher to 5,864.50 points. That’s despite ongoing volatility in tech shares as ASX 200 mining shares like Saracen Mineral Holdings Limited (ASX: SAR) saw strong gains.

As I look ahead to another big week of trade, I’ve got my eye on a few potential movers and shakers. Here are 3 ASX 200 shares that I think are worth watching this week.

3 ASX 200 shares to watch this week

Let’s start with Saracen. The Saracen share price was one of the top performers last week as the ASX gold share rocketed 4.2% higher on Friday.

Market volatility has been good for gold shares with the precious metal in high demand right now for its perceived safety. That’s certainly been reflected in the Saracen share price this year which has rocketed 63.3% higher in 2020.

There’s always the risk of commodity-based shares overinvesting and seeing a medium to long-term slump. However, I think we’ll see more volatility in 2020 which could push ASX gold shares higher through to the end of the year.

Outside of gold shares, I’ve got my eye on a potential growth stock: Qube Holdings Ltd (ASX: QUB). The ASX 200 logistics share fell 2.6% lower on Friday which could present a buying opportunity.

Qube has a market capitalisation of $4.8 billion and a 2.0% dividend yield right now. I’m bullish on the logistics sector as more retailers shift from bricks-and-mortar to an online warehouse model similar to Amazon.com, Inc. (NASDAQ: AMZN).

That could increase demand for Qube’s expertise like we’ve seen in the $1 billion deal with Woolworths Group Ltd (ASX: WOW).

I’ve also got my eye on an ASX 200 media share in the form of Domain Holdings Australia Ltd (ASX: DHG).

The Domain share price slipped 2.4% lower on Friday but I think the short-term outlook for property isn’t all bad. Prices are starting to stabilise which is good news for more listings and higher traffic to the Domain site.

Shares in the real estate media group are down 1.4% for the year but could be worth a look if the housing rebound continues in 2020.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia owns shares of Woolworths Limited. The Motley Fool Australia has recommended Amazon. 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.

Related Articles...