Copper Stocks To Keep Your Eyes On Next Month
Copper stocks
are increasing in value because of their affiliation with electric vehicles. A regular gas powered vehicle has about 35 pounds of copper in it. Battery electric vehicles use roughly 183 pounds of copper per vehicle. This means that copper is one of the main components in electric vehicles. Its conductivity, durability, and malleability make it very ideal for the batteries used in EVs. In fact copper is used in nearly all of the major components of an electric vehicle. The metal is used in the motor, inverter, wiring, battery, and more. There is about a mile of copper wiring in most of them.
Currently, copper is the third most used metal in the world. The metal has also experienced periods of increased demand this year as well. This comes as pandemic restrictions loosen all around the world. This means that retail sales and industrial use of copper has been increasing. Not everything is perfect for the metal though, also experiencing dips sometimes.
While many gravitate towards traditional mining stocks like gold and silver, copper is another high performing sector that is sometimes overlooked. So how do you know which copper stocks are the best to watch? Looking at the volume of a copper stock can be a useful tool when investing. If a company’s share prices are moving upwards but volume is low, it can mean different things. News related to the world, sector, and company is also useful when investing. So let’s look at the
top 3 copper stocks to watch
in July.
Top Copper Stocks To Watch
-
Vale S.A. (
NYSE: VALE
) -
Cleveland-Cliffs Inc. (
NYSE: CLF
) -
Freeport-McMoRan Inc. (
NYSE: FCX
)
Vale S.A. (NYSE: VALE)
Vale S.A. is a
mining stock
produces produces gold, silver, copper, cobalt, manganese, and more. The company also sells iron ore and iron ore pellets to be used as raw materials in steel making. Vale operates in 3 sections, being Ferrous Minerals, Base Metals, and Coal. The company also produces platinum group metals too. So what has VALE been up to that is causing its stock price to increase?
On June 29
th
, Vale announced that it has invested $150 million to extend the life of its Manitoba operations. The Executive VP for Base Metals with Vale, Mark Travers said, “This is the largest single investment we have made in our Thompson operations in the past two decades. It is significant news for our employees, for the Thompson community and for the Province of Manitoba. The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand.”
Vale has increased in stock price in 2021. It started the year around $17 per share on average. Now the company’s stock price is nearly at $23 per share on average. Noting this information, will you add VALE to your
list of copper stocks
to watch?
Cleveland-Cliffs Inc. (NYSE: CLF)
Cleveland-Cliffs is a
copper stock
that is based in the United States, Canada, and internationally. Its main segments of the company are mining, pelletizing, and metallic. It runs 3 iron ore mines, the Tilden mine, Northshore mine, and United Taconite mines. Its products are used to produce blast furnace steel, flat rolled carbon, stainless, and electrical steel products.
On June 23
rd
, Cleveland-Cliffs was awarded the “GM’s Supplier of the Year” award by General Motors for the fourth year in a row. The Chairman, President, and CEO of the company Lourenco Goncalves said, “We are proud to be named GM Supplier of the Year winner for the fourth straight year. Our leading position in automotive steel is undeniable, and we value GM’s recognition of our outstanding quality, reliability and delivery performance.”
CLF stock started 2021 at about $14 per share on average. Now CLF stock is at nearly $21 per share on average. So is this a company that will make your watchlist this week?
Freeport-McMoRan Inc. (NYSE: FCX)
Freeport-McMoRan Inc. is a
copper stock
that operates at mineral properties in North America, South America, and Indonesia. Freeport-McMoRan explores for copper, gold, molybdenum, silver, and more. It additionally seeks oil and gas as well. The company has proven and probably mineral reserves with 29.6 million ounces of gold, and much more resources as well.
On June 23
rd
, the company declared its quarterly cash dividend on common stock. The cash dividend will be $0.075 per share payable on August 2
nd
, 2021 to stockholders on record of July 15th, 2021. FCX is another mining stock gainer in 2021. The company started the year at $27 per share on average. Now at the end of June the company is at $37 per share on average. Will FCX make it on to your
list of copper stocks
to watch?
Copper Stocks In The Future
Considering its conductivity and use, it is not likely for copper to be replaced any time soon. When investing in copper stocks looking out for increased demand or shortages can be essential in the process. No matter which company you invest in, this will always be important in the process. So which companies will make your list of
copper stocks to watch
this week?
