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If you look at the other metals like copper and steel and their associated stocks you'll see breakouts as well, and in fact, they are showing more strength than gold stocks. Looking at a chart of copper we'll see a clear breakout above the early 2023 high of $4.35 with the 2022 highs of $5.00 targeted. Fundamentally speaking copper is an industrial metal heavily needed in China and India for infrastructure, transportation, and the green energy buildout. 'Bull flag' pattern The way I'm expressing this bullish thesis in copper is through my holdings in Southern Copper Corp (SCCO) in the dividend portfolio at Inside Edge Capital. That's not exactly cheap, but with the forecasted global demand of copper we think that multiple is justified.
Persons: There's, COPX, That's, Todd Gordon, Gordon, SCCO Organizations: Gold Miners, Copper Miners, Southern Copper Corp, Edge, Inside Edge, Inside Edge Capital Management Locations: China, India, Panama, GDX, COPX, Arizona
The Global X Copper Miners ETF (COPX) offers investors a liquid, cost-effective way to get broad-based exposure to copper mining stocks. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein.
Persons: It's, Katie Stockton Organizations: Copper Miners, Fairlead, CNBC Pro, Securities, ~$ Locations: Canada, U.S
The list includes material companies that mine the mineral, including Southern Copper Corp. and Freeport-McMoRan . Shares of Southern Copper jumped nearly 22% last month, while Freeport-McMoRan gained 11.6%. There are some other stocks on the list that have a less obvious exposure to copper, such as financial stocks Invesco and KKR . The metal often referred to as "Doctor Copper" is seen as a leading economic indicator, and financial stocks are cyclical plays. Financial stocks and copper rising could be a sign that business leaders and investors are growing more confident about the economy.
Persons: Russell Organizations: HG, Southern Copper Corp, Southern Copper, Copper Miners, KKR Locations: Freeport, McMoRan
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