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☆ Wall Street is bullish on copper, thanks to AI. Analysts love these stocks, giving one 234% upside
▼ + stars: | 2024-04-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Copper is used in data centers for power cables, electrical connectors, power strips and more, Jefferies noted in an April 10 note. It estimates that global copper demand by data centers will increase from 239 kt (thousand tons) in 2023 to at least 450 kt per annum in 2030. "Hopes for GenAI / data centre copper demand growth are adding to investor bullishness on copper, against a backdrop of constrained supply," it wrote. For those looking to buy into the sector, CNBC Pro screened for stocks in the Global X Copper Miners ETF. In addition to the Global X Copper Miners ETF, those who want to invest in this sector via exchange-traded funds can consider the Sprott Copper Miners ETF and the iShares Copper and Metals Mining ETF.

Persons: Jefferies, Morgan Stanley, It's Organizations: CNBC Pro, Copper Miners, Solaris Resources, Filo Mining, Miners, Metals Mining

☆ Goldman Sachs and others expect copper prices to soar. Here are some related stocks that analysts love
▼ + stars: | 2023-06-05 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Copper prices are at their lowest levels in almost a year, but it could provide investors with a buying opportunity. In another May report, Goldman Sachs gave copper prices 25% upside over the next 12 months, rising to $11,000 per ton. Copper prices suffered a nearly 6% decline in May — on pace for the worst month in almost a year since June 2022, according to CNBC analysis. But the market is currently in a "significant deficit" phase, said Goldman analysts. Filo Mining , another Canadian miner, had the highest buy rating at 91%.

Persons: Goldman Sachs, Goldman, It's, — CNBC's Michael Bloom Organizations: Wall Street, Citi, CNBC, CNBC Pro, Copper Miners, NGEx Minerals, Teck Resources, Filo Mining, United States Copper, Bloomberg Locations: China, U.S, Teck

☆ Goldman and others are bullish on copper. Here are some stock ideas that analysts love
▼ + stars: | 2023-04-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The demand surge in metals such as copper, nickel and lithium "has only just begun," according to Goldman Sachs. Demand for copper in particular is set to rise to 17% of total demand for so-called green metals by 2030, according to Goldman, from 7% currently. Meanwhile, UBS in a separate March note was also bullish on the outlook for copper demand, saying there is a $60 billion opportunity in EV charging infrastructure. This will lead to a significant rise in copper demand, the bank added. Copper and gold miner SolGold was the only other firm with a 100% buy rating, although its upside was more limited at over 10%.

☆ TSX rises for fifth day as Filo Mining gains
▼ + stars: | 2023-03-30 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

ET (14:11 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 55.48 points, or 0.28%, at 19,893.13. Filo Mining Corp (FIL.TO) shares rose 4.8% after CIBC started the coverage of the miner with an "outperform" rating and a target price of C$38. Canadian equities are set to end the first quarter at 3% higher if gains hold. "Things are feeling a lot better than they did a few weeks ago, so people are allocating back to equities heading into quarter end," said Greg Taylor, chief investment officer at Purpose Investments. After a recent spike in investor concerns about a financial meltdown, banks (.GSPTXBA) are set to end the quarter down more than 1%.

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