If gold is supposed to offer insurance against market volatility, then investors better make sure they have some right now.
Cramer’s favorite way to play the commodity has been SPDR Gold Shares, which tracks the precious metal’s price. Given today is Speculation Friday, though, he wanted to offer up a mining company that’s delivered even better returns than the GLD.
Cramer sometimes shies away from the gold miners because they can run into operational and other problems that hurt their stocks. But after Eldorado’s most recent quarter – a 2-cent earnings beat coupled with bullish guidance – he thinks at least one miner could work right now.
Over the past fives years, EGO has soared 597% compared to the GLD’s 178%. Over the last three years, the numbers are up 162% and 73%, respectively. And in just the past year, EGO’s returned 86%, which is much better than the GLD’s 32%. And that’s without mentioning that the company’s performance has better than rivals Goldcorp, Newmont , Kinross and Barrick .
“Given the strength of the quarter,” Cramer said, and the company’s new dividend, “I think the outperformance will continue.”
For more on Eldorado and its potential, Cramer tapped CEO and President Paul Wright. Watch the video for the full interview.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? firstname.lastname@example.org
Questions, comments, suggestions for the Mad Money website? email@example.com