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Thomas Winmill is still bullish on commodities, although he doesn't think oil is currently a buying opportunity.
The president and portfolio manager of The Midas Funds also likes some commodity-related stocks.
Recommendations:
Winmill likes Freeport McMoRan [FCX
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], Kinross Gold [KGC
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], and Lihir Gold Limited [LIHR
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].
"They're primarily gold producers," he told CNBC. "Freeport is the biggest copper producer in the world...it's got a great portfolio, it only trades about seven times cash flow right now, they're going to increase their production of copper by about half a billion pounds next year; a lot of growth in the pipeline."
One special reason Winmill likes Freeport McMoRan is its involvement in the production of molybdenum.
"It doesn't trade in the futures market," he pointed out. "Molybdenum is used primarily for pipe, for drilling pipe for oil exploration, any kind of pipeline...it's a very strong market, and a small market."
Disclosure:
Disclosure information for Thomas Winmill was not immediately available.
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