Just because a stock is in the S&P/ASX 200 Index (ASX: XJO) doesn't mean that they are ubiquitous household names.
Even within that exclusive club there will be brands not often talked about, which could potentially become hidden gems for your stock portfolio.
Here are two such ASX shares currently recommended as buy:
Gold will party while the market stresses
According to Argonaut Securities associate dealer Harrison Massey, gold miner Silver Lake Resources Ltd (ASX: SLR) recently put up "a solid half-year result".
"It reported sales of 115,790 ounces of gold equivalent at a realised gold price of AU$2,516 an ounce," Massey told The Bull.
"The company had cash and bullion of $253 million at the end of the half year."
Gold is considered a safe-haven asset in times of trouble for shares and property, which is exactly the anxious atmosphere currently permeating the markets.
As such the gold price has risen more than 21% since early November, according to goldprice.org.
Massey reckons Silver Lake will revel in the precious metal becoming even more precious in the immediate future.
"The company is poised to take advantage of what we expect will be a stronger gold price in the near term."
Other professional investors largely agree with Massey. Four out of the five analysts surveyed on CMC Markets currently rate Silver Lake shares as a strong buy.
The Silver Lake share price has halved since a year ago.
Business turnaround going gangbusters
Bell Potter investment advisor Christopher Watt is a fan of family security app Life360 Inc (ASX: 360).
"Features include driving safety and location sharing."
After tanking more than 80% of its valuation between November 2021 and June 2022, the bleeding was stopped by revealing concrete steps to transform a cash-burning business into a profit-making one.
The Life360 share price has since doubled.
Watt notes the company has managed to plough a path to profitability without sacrificing much growth.
"The company has more than 30 million active users a month and is becoming a dominant brand in the US and internationally," he said.
"Despite COVID-19 disruptions in 2021 and 2022, Life360 continues to grow its subscriber base."
