Copper stocks are often a mining sector that is overlooked. This is due to the fact that gold and silver stocks are frequently the attention of investors. Many people are unaware, however, that the copper industry is rising over time. This is an essential resource that is used in many of the things we use on a daily basis. In the previous year, investors who got in early on the metal potentially saw a significant return on their investment.
So, why is copper trading at such a high price? It’s possible that this has much to do with the metal’s ties to electric vehicles. A typical gas-powered vehicle has anything from 18 to 49 pounds of copper. Each battery electric vehicle consumes about 183 pounds of copper. Copper is often regarded as one of the most important components in electric vehicles. Its conductivity, durability, and malleability make it an excellent choice for EV batteries. In fact, copper is used in nearly all of an electric vehicle’s essential components. The metal is employed in a variety of places, including the motor, inverter, wiring, and battery. Most of them have around a mile of copper wire.
Another reason copper stocks may be performing well is the pandemic. Copper is being utilized significantly more industrially as several world economies begin to recover. In contrast to the previous year, industrial enterprises are now allowed to work at full capacity. Retail sales of copper-based items are also increasing as a result of this. Fears of inflation could also be a factor in the rise in copper prices. It’s probable that the price of precious metals will rise if the dollar falls. So which copper stocks have potential in the market?Top Copper Stocks To WatchSouthern Copper Corporation (NYSE: SCCO)
Southern Copper Corporation is a copper stock that focuses on copper and other mineral exploration, mining, smelting, and refining. It had mines in Peru, Mexico, Ecuador, Argentina, and Chile, among other places. Mining, milling, and processing copper ore are the company’s core activities. Across all of its properties, the business owns more than 290,000 hectares of land. So, what has been going on with Southern Copper in 2021?
The company said in June that its projects are on track to fulfill its 2028 production goal of 1.9 million tons. This will allow the corporation to take advantage of growing copper demand as a result of the worldwide push to reduce carbon emissions. The company’s most recent earnings report for the first quarter topped analyst expectations. SCCO stock was trading at $37 per share on average a year ago. Based on this semi-recent info, will SCCO stock be on your October watchlist?Rio Tinto Group (NYSE: RIO)
Rio Tinto Group is a mining company that finds, mines, and processes a variety of minerals. Aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium, salt, iron ore, and uranium are Rio’s principal products. Rio smelts aluminum and engages in a variety of mining activities.
On October 17th, the company announced a $12 million deal with Telethon. The goal of this three-year partnership is to improve the health and wellbeing of children in Western Australia. The company wants to get $4 million in donations this year to distribute to various important health initiatives.
Rio Tinto Iron Ore Chief Executive, Simon Trott said, “Rio Tinto is delighted to be partnering with Telethon to help deliver critical research and initiatives that will improve the wellbeing of kids all across the state. Telethon is an iconic Western Australian charity event and Rio Tinto and its entire workforce is really proud to support this wonderful cause.” With this in mind, will RIO be on your copper stock watchlist?BHP Group (NYSE: BHP)
BHP Group is a copper company that works in the natural resources industry. It has operations in Australia, Europe, China, Japan, India, and other Asian and North American countries. Petroleum, copper, iron ore, and cole are the company’s main products. Silver, zinc, uranium, and gold will be mined as well. The company has grown into a top producer as a result of the wide range of assets it has looked for.
On October 14th, it was announced that its London investors have voted to support its largest climate change program. BHP claims it will target net-zero greenhouse gas emissions via direct suppliers and the shipment of its products by 2050. CEO of BHP, Mike Henry said, “There’s a need for urgent action, many different views about what that action should look like and you see that coming forward in the way that some parties are reacting to the plan.” Noting this latest update, will BHP be on your list of copper stocks to watch?Best Copper Stocks To Buy?
At the moment, the people of Earth are working for a more sustainable and energy-efficient future. Copper’s market demand will continue to rise over time as long as the world strives to achieve this goal. This metal is used to boost the efficiency of a variety of electrical technologies. This flexible metal is proven to be a powerful asset in a variety of applications, including motors, transformers, batteries, cables, and solar energy systems. So, which firms will you include on your list of copper stocks to keep an eye on?