Copper stocks to watch in the stock market now.
The copper industry plays a crucial role in the global economy, given copper’s widespread use in various sectors. Copper is essential in electrical wiring, plumbing, telecommunications, and renewable energy technologies, making it a fundamental industrial metal. The demand for copper is often seen as an indicator of economic health, as it is extensively used in construction and manufacturing. The industry includes companies engaged in copper mining and refining, along with those that manufacture copper-based products.
Investing in copper stocks offers investors a way to tap into the metal’s critical role in the global economy. These stocks can be attractive during periods of economic growth, as demand for copper typically increases, potentially driving up its price and the value of copper stocks. The shift towards green technologies, including electric vehicles and renewable energy, also bodes well for long-term copper demand. However, there are disadvantages. The copper market is subject to price volatility due to fluctuating global supply and demand dynamics. Political and economic factors in major copper-producing countries can significantly impact the market.
For investors, copper stocks represent both a commodity play and an industrial investment. While these stocks offer potential growth, especially in a burgeoning global economy, they also require careful consideration of global economic trends and mining sector challenges. Diversification and a keen understanding of the factors affecting copper prices are essential when investing in copper stocks. All in all, here are two copper stocks to check out in the stock market today.
Copper Stocks To Invest In [Or Avoid] Now
- Freeport-McMoRan Inc. (NYSE: FCX)
- Southern Copper Corporation (NYSE: SCCO)
Freeport-McMoRan (FCX Stock)
Leading off, Freeport-McMoRan Inc. (FCX) is a leading international mining company. Specializing primarily in the mining of copper, gold, and molybdenum, the company operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold, and molybdenum.
Last month, Freeport-McMoRan announced that it had declared its quarterly cash dividend. In detail, the company’s Board of Directors declared a quarterly cash dividend of $0.15 per share on common stock. The dividend is payable on February 1, 2024, to stockholders of record on January 12, 2024.
Looking at the last month of trading, shares of FCX stock have advanced by 9.06%. Additionally, during Wednesday’s late morning trading session, Freeport-McMoRan stock is trading red on the day by 0.94% at $41.31 a share.
Southern Copper (SCCO Stock)
Next, Southern Copper Corporation (SCCO) is one of the largest integrated copper producers in the world. The company conducts mining, smelting, and refining operations in Mexico and Peru. Southern Copper’s substantial mineral reserves include not only copper but also molybdenum, zinc, and silver.
Back in November, Southern Copper reported a beat for its third quarter 2023 financial results. Diving in, the company notched in Q3 2023 earnings of $0.80 per share. Additionally, net sales came in at $2,506 million, which represented an improvement of 16% compared to the same period, the prior year.
In the past month of trading, shares of SCCO have risen by 11.54%. Meanwhile, during Wednesday’s late morning trading session, Southern Copper stock is trading modestly lower by 0.57% at $83.80 a share.
—
Originally Posted January 10, 2024 – Copper Stocks To Consider In 2024? 2 To Know
Join The Conversation
If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.
Leave a Reply
Disclosure: Interactive Brokers
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from StockMarket.com and is being posted with its permission. The views expressed in this material are solely those of the author and/or StockMarket.com and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
McEwen Mines are just getting their latest core results from Los Azules in Argentina were they are preparing for a world class copper mine installation. Very interesting.
Note my above comment must have power, since the stock jumped from 8.00 to now 11.85? Wow, I must listen to myself more often. I am trying to get the world’s most efficient work boat built, but need the stock to hit $50.00. Not much longer now.