Will these copper stocks increase in market value?
Copper stocks are in the mining industry and typically trade in response to the performance of the Global X Copper Miners ETF. Copper firms, in general, are involved in the metal’s exploration, extraction, and production. This metal has risen to become the world’s third most popular. There are several causes for this, but one in particular stands out. EV manufacturing and sales have expanded dramatically in the last five years. Your average car has anywhere from 18 to 49 pounds of copper. In contrast, battery electric vehicles consume approximately 183 pounds of copper each vehicle.
Tesla, the world’s leading electric vehicle manufacturer, delivered almost 500,000 electric vehicles in 2020 alone. This is a rapidly expanding industry, and copper is required for the manufacture of EVs. Because of its conductivity, endurance, and malleability, it is an excellent choice for the batteries used in these vehicles. The metal is found in the motor, inverter, wire, battery, and other components. Most manufacturing electric vehicles have roughly a mile of copper wiring.
If you want to invest in copper stocks, there are a few things you should look for. Recent company news, industry news, and global news all have an impact on the route that enterprises in this area take. When investing in these mining stocks, volume is also a crucial thing to consider. If a company’s volume is larger than usual, this might have a variety of consequences. Copper, while not as valuable as silver or gold, is nevertheless a very useful metal for the economy. Let’s take a look at some copper stocks that have performed well in the market.
Top Copper Stocks To Watch
- Newmont Corporation (NYSE: NEM)
- Harmony Gold Mining Company Limited (NYSE: HMY)
- Southern Copper Corporation (NYSE: SCCO)
Newmont Corporation (NYSE: NEM)
Newmont Corporation is a copper stock that we have discussed extensively on goldstocks.com. This is a mining company based in Colorado that has gained a lot of traction in the industry over the last year and a half. The primary focus of the company is the production and exploration of resources such as gold, silver, copper, zinc, and lead. It has property or assets in the United States, Canada, Mexico, Peru, and other countries. The firm had 94.2 million ounces of known and probable gold deposits and 58,900 square kilometers of property by the end of 2020.
Newmont released its third-quarter 2021 results on October 28th. During this time, the firm has focused on its near-term projects and the advancement of Yanacocha Sulfides. The company increased its production guidance to 6 million ounces, reiterating its previous guidance of 1.3 million gold equivalent ounces from copper, silver, lead, and zinc.
The CEO and President of Newmont, Tom Palmer said, “A year ago, we announced our industry-leading dividend framework, establishing a clear pathway for stable and predictable returns. Over the last four quarters, Newmont has steadily reinvested in our operations while returning more than $2 billion dollars to shareholders through dividends and share buybacks, demonstrating our confidence in the long-term value of our business and our ability to maintain financial flexibility.” Noting this recent info, will NEM be on your list of copper stocks to watch?
Harmony Gold Mining Company Limited (NYSE: HMY)
On November 29th, Harmony Gold Mining Company Limited is a copper stock that is up more than 3%. This corporation extracts and processes gold, silver, copper, and uranium after mining them. Harmony’s operations are based in South Africa and Papua New Guinea, both of which have proven to be extremely beneficial to the corporation.
The company’s earnings and revenue increased year over year in fiscal year 2021, according to the most recent release. This occurred as a result of rising metal costs and tremendous corporate success. Given that Harmony hasn’t issued any updates in quite some time, it’ll be interesting to see what they have in store for their investors.
HMY’s stock price often moves in lockstep with the price of gold. As a result, when gold prices rise significantly, HMY stock frequently follows suit. On the other side, when gold falls precipitously, HMY stock frequently falls with it. Things are currently very volatile in the gold stock market. Despite the volatility, HMY is now performing well. HMY’s stock price has risen in the last month. Will HMY stock be on your radar as a result of this in December?
Southern Copper Corporation (NYSE: SCCO)
Southern Copper Corporation is a copper stock that specializes on the exploration, mining, smelting, and refining of copper and other minerals. It operated mines in Peru, Mexico, Ecuador, Argentina, and Chile, among other countries. The company’s primary activities include mining, milling, and processing copper ore. The company holds around 290,000 hectares of land across all of its properties. So, what happened to Southern Copper in 2021?
In June, the business stated that its projects are on track to meet its 2028 production objective of 1.9 million tons. This will enable the company to capitalize on rising copper demand as a result of the global campaign to minimize carbon emissions. The company’s most recent first-quarter earnings report exceeded analyst estimates. A year ago, SCCO stock was trading at $37 per share on average. Will SCCO stock be on your December watchlist based on this latest information?
Best Copper Stocks To Buy?
People on Earth are currently attempting to create a more sustainable and energy-efficient future. As long as the globe attempts to attain this aim, copper’s market demand will climb over time. This metal is utilized to improve the efficiency of several electrical technologies. This versatile metal has shown to be a valuable asset in a wide range of applications, including motors, transformers, batteries, cables, and solar energy systems. So, which companies will you add on your list of copper stocks to watch?
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