You may never have considered investing in copper mines in ­Kazakhstan…hospitals in the United Arab Emirates…or Argentinian banks. But these types of companies offer some of the most attractive stocks in “frontier” markets, which soared 21% this year through September 11 based on a benchmark index of 115 stocks. Frontier markets consist of about three dozen rapidly growing countries that are in earlier stages of economic development than their emerging-market neighbors. Many frontier markets offer cheaper valuations and stronger growth than developed and emerging markets. And although there are risks, frontier markets overall have been less volatile in the past than developed and emerging markets.

Three of my favorite frontier stocks that have all done well this year but that seem to have much more upside left…

Grupo Financiero Galicia (GGAL) is a leading financial-services company in Argentina, with banking and insurance operations serving more than 9 million customers. Its dominant position in the credit card market offers significant growth potential as Argentina’s economy rebounds and its middle class expands. Recent share price: $46.29.

Kaz Minerals PLC (KZMYY) is a copper miner and exporter based in Kazakhstan that will likely double revenues in 2017. Reason: Copper prices are near their highest level in nearly three years, thanks to a pickup in demand from China that accounts for almost 50% of all copper demand. ­Recent share price: $5.62.

NMC Health PLC (NMHLY) operates 45 hospitals and other medical facilities in the United Arab Emirates and seven other countries. The health-care company is becoming a powerhouse in in-vitro fertilization, running large fertility treatment centers in five countries ­including Brazil and Spain. Recent share price: $36.63.

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