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iShares MSCI Global Select Metals & Mining Producers Fund (BATS: PICK)

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iShares MSCI Global Select Metals & Mining Producers Fund

iShaes MSCI Global Select Metals & Mining Producers Fund

Basic Materials

The fund generally will invest at least 90% of its assets in the component securities of the underlying index and in investments that have economic characteristics that are substantially identical to the component securities of the underlying index. The index composed of global equities of companies primarily engaged in mining, extraction or production of diversified metals, excluding gold and silver. The fund is non-diversified.

Beigene, Ltd. (adr)

Rio Tinto Ltd

Freeport-McMoran Copper & Gold Inc

Glencore Plc

Nucor Corp.

Vale Sa

Teck Resources Ltd

Nippon Steel Corp

Steel Dynamics Inc

Saudi Arabian Mining Co

iShares MSCI Global Metals & Mining Producers ETF

Pickle Finance

PICK N PAY STRS UNSP/ADR by Pick n' Pay Stores Ltd.

Pick N Pay Stores Ltd

PICK N PAY STORES LTD by Pick n' Pay Stores Ltd.

Pick-Ups Plus Inc

PICKLEJAR ENTERTAINMENT by PickleJar Entertainment Group, Inc.

PickleJar Entertainment Group Inc

The leaders of the Group of Seven (G7) unveiled a new action plan for critical minerals on Tuesday, following their latest meeting in Kananaskis, Alberta. The initiative, designed to secure <a target="_blank" href="https://www.benzinga.com/topic/tariffs" rel="noreferrer noopener">global supplies of essential materials</a> for clean energy, defense, and digital technology, is a step toward building transparent, reliable supply chains and boosting investments in sustainable mineral production.
"We recognize the need to work together to increase investment in responsible critical minerals projects within the G7 and around the world," the leaders said in a <a target="_blank" href="https://www.pm.gc.ca/en/news/statements/2025/06/17/g7-critical-minerals-action-plan" rel="noreferrer noopener">joint statement</a> released at the end of the summit.
The document also highlighted the opportunity to establish mutually beneficial partnerships with developing countries, creating stable, long-term supply relationships that foster shared economic growth.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/politics/25/06/45992119/trump-cuts-g7-visit-short-calls-canada-deal-achievable" rel="noreferrer noopener">Trump Cuts G7 Visit Short, Calls Canada Deal ‘Achievable'</a>
While the action plan does not directly name China, it calls out "non-market policies and practices" that distort critical mineral supply chains. The semantics reflect a growing concern among G7 members over China's dominance in markets for rare earth elements and materials such as lithium, cobalt, and graphite—resources critical to electric vehicles, batteries, and military technology.
"Non-market policies and practices in the critical minerals sector threaten our ability to acquire many critical minerals," the statement said. "We will work together and with partners beyond the G7 to swiftly protect our economic and national security."
The plan outlines key areas of action, including the development of standards-based markets, increased public and private investment, and partnerships with mineral-rich countries. These efforts include streamlining permitting processes, mitigating investment risks, and promoting new mining, processing, and recycling technologies.
At a press conference, Canadian Prime Minister and G7 chair Mark Carney noted the urgency of securing reliable mineral supply chains.
"They [G7 leaders] acknowledged that both energy security and the digital transition are underpinned by secure and responsible critical mineral supply chains and that more collaboration is required, within and beyond the G7," Carney <a target="_blank" href="https://www.pm.gc.ca/en/news/statements/2025/06/17/g7-chairs-summary" rel="noreferrer noopener">said</a> in a summary. He also announced the creation of the Canada-led Critical Minerals Production Alliance to help guarantee supplies for advanced manufacturing and defense industries in partner nations.
G7 plans to address the matter further at the Conference on Critical Materials and Minerals, scheduled for September in Chicago.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45975943/these-3-gold-stocks-have-rocketed-50-thanks-to-a-floundering-dollar" target="_blank" rel="noreferrer noopener">These 3 Gold Stocks Have Rocketed 50%, Thanks To A Floundering Dollar</a></li>
</ul>
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iShares S&P GSSI Natural Resources Sector Index Fund

iShares Trust Dow Jones US Basic Materials Sector Index Fund

PICK

PowerShares Dynamic Basic Materials Sector Portfolio

Market Vectors Rare Earth/Strategic Metals Etf

REMX

RING

G7 Targets Supply Chain Security With Critical Minerals Plan

Mining may be down, but not out. The sector has been the worst hit since the <a href="https://www.benzinga.com/topic/tariffs">new U.S. tariffs</a> were announced.
JPMorgan analyst Dominic O'Kane says, "<a href="https://www.benzinga.com/markets/commodities">mining was best performing sector</a> exiting last 3 recessions," and he expects another sharp recovery to unfold after the slide.
With the sector already pricing in a worst-case scenario, the setup for a V-shaped bounce is taking shape.
<h2 class="wp-block-heading">Extreme Weakness, But What's Priced In?</h2>
Metals and mining have been the worst-performing sector since new U.S. tariffs were announced, shedding 13% just last week. That adds to an eye-watering 50% underperformance versus MSCI Europe since January 2023. But O'Kane argues the damage is largely in the price: mining stocks already discount a recession scenario, with commodity prices 15–20% below current levels—such as iron ore at $80/ton and copper at $7,500/ton.
Still, fair value estimates suggest that miners have a serious upside even if metal prices stay flat. JPMorgan sees more than 50% total shareholder return over a two-year horizon. Rio Tinto plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>), for example, offers >65% upside, Antofagasta plc (OTCPK: ANFGF) >50% upside and BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) >65% upside from current price levels.
Read Also: <a href="https://www.benzinga.com/25/04/44682458/coppers-rout-sees-a-massive-intraday-price-swing-fundamentals-havent-changed-expert-says">Copper&#8217;s Rout Sees A Massive Intraday Price Swing, &#8216;Fundamentals Haven&#8217;t Changed,&#8217; Expert Says</a>
<h2 class="wp-block-heading">What Could Flip The Switch? China Stimulus In Q3</h2>
In the past three global downturns &#8211; 2009, 2016 and 2020 &#8211; miners bottomed ahead of the broader market and went on to outperform by roughly 100% in the next 12 months. This time, the catalyst could once again be China.
JPMorgan economists expect a RMB one trillion fiscal stimulus to be unveiled in the third quarter, which would align with the historical bottoming pattern of ~four months post-selloff.
In 2020, that timeline shrank to just one month as stimulus arrived fast and hard.
That said, this time is different: the expected 0.7% of GDP stimulus is far smaller than 2008's massive ~12% package, and no China property rescue is on the horizon.
Still, the setup remains favorable.
<h2 class="wp-block-heading">How To Play The Rebound: Stocks, ETFs</h2>
O'Kane's top stock picks are copper and gold-centric: Antofagasta and Lundin Mining Corp (OTCPK: LUNMF) lead his copper recommendations, while Rio Tinto offers a diversified bet with a high free cash flow yield.
On the gold side, Fresnillo plc (OTCPK: FSNPF), Hochschild plc (OTCPK: HCHDF) and Anglogold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) are rated Overweight.
Several ETFs offer targeted exposure to this thesis for US-based investors. The Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>) and the iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>) give broad access to copper and diversified miners.
Those seeking gold exposure can look to the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) or the iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>).
These vehicles provide exposure to many of the stocks JPMorgan favors and may be well-positioned for a recovery trade.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/03/44442794/gold-etfs-face-off-gld-vs-gdx-as-they-steadily-climb-amid-bullion-boom">Gold ETFs Face Off: GLD Vs. GDX As They Steadily Climb Amid Bullion Boom</a></li>
</ul>
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Specialty ETFs

Analyst Ratings

Trading Ideas

ETFs

ANFGF

COPX

HCHDF

LUNMF

JPMorgan's Mining Stock Picks For A 'V-Shaped Recovery,' Analyst Sees 50% Returns Over Two Years

Russian President Vladimir Putin has offered the United States access to Russia's metals, presenting Moscow as an alternative to Washington's <a target="_blank" href="https://www.benzinga.com/news/global/25/02/43909360/zelensky-says-ukraine-wont-trade-minerals-for-debt-seeks-win-win-deal-with-us" rel="noreferrer noopener">push for Ukraine's resources.</a>
If President Donald Trump successfully brokers the agreement to stop the three-year conflict in Ukraine, it could open the doors for renewed economic cooperation.
Trump's notion of securing major economic agreements with Russia, as mentioned <a target="_blank" href="https://www.aljazeera.com/news/liveblog/2025/2/24/trump-live-news-us-president-places-thousands-of-workers-on-leave-at-usaid" rel="noreferrer noopener">by</a> Al Jazeera, drew a prompt reaction. Putin convened a high-level meeting with economic advisors, reflecting on opportunities with joint projects in strategic metals.
"We, by the way, would be ready to offer joint projects with our American partners," Putin <a target="_blank" href="https://tass.com/economy/1918439" rel="noreferrer noopener">stated</a> on Russian state television, clarifying that Russia possesses far greater reserves of these critical minerals than Ukraine.
Russia holds the world's fifth-largest <a target="_blank" href="https://www.benzinga.com/etfs/23/07/33233340/rare-earth-elements-explained" rel="noreferrer noopener">rare earth reserves</a>, estimated at 3.8 million metric tons, yet it produces only about 2,500 tons per year due to limited refining capacity. These materials are essential for electric vehicles, missile guidance systems, consumer electronics, and renewable energy technologies.
Putin described rare earth metals as a priority for Russia's long-term economic development, with plans to expand beyond raw extraction into high-tech manufacturing. He also noted a significant opportunity for aluminum exports.
Russia is one of the world's largest aluminum producers, with its leading company, Rusal, historically supplying a significant share of global markets. Before tariffs were imposed in 2023, Russia accounted for up to 15% of U.S. aluminum imports.
Putin now says that Russia could supply up to 2 million tons annually to the U.S., helping to stabilize prices in the American market.
"This will not significantly affect pricing, but it will have a restraining influence on price formation," Putin said. He also proposed that American firms could invest in Russian aluminum production, particularly in the Krasnoyarsk region of Siberia, which houses some of the world's largest aluminum facilities.
While Putin angles for American cooperation, the European Union has taken a stricter approach, tightening restrictions on Russian aluminum as part of its latest, <a target="_blank" href="https://ec.europa.eu/commission/presscorner/detail/en/ip_25_585" rel="noreferrer noopener">16th sanctions package</a>. New rules will further limit Russia's presence in European markets, explaining why Moscow seeks alternative buyers.
Alongside his economic proposals, Putin endorsed Trump's suggestion for a 50% reduction in defense spending for Russia and the United States and openly invited China to join the initiative.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/management/25/02/43893993/teck-shrugs-off-tariff-risks-while-cameco-says-its-kind-of-econ-101-for-uranium-prices" target="_blank" rel="noreferrer noopener">Teck Shrugs Off Tariff Risks, While Cameco Says ‘It's Kind Of Econ 101' For Uranium Prices</a></li>
</ul>
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JJMTF

JJNTF

Putin Offers Russian Aluminum, Rare Earths As An Alternative To Ukraine's Minerals

Glencore (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLCNF#OTC">GLCNF</a>) and Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>), two leading mining companies, are discussing their listings with the London Stock Exchange, <a href="https://www.benzinga.com/topic/mining">albeit for different reasons</a>. 
Swiss-based Glencore is exploring the possibility of moving to the New York Stock Exchange.
&#8220;We want to ensure that our securities are traded on the right exchange, where we can get the right and optimal valuation. If there's a better one, and those include the likes of the New York Stock Exchange, we have to consider that,&#8221; CEO Gary Nagle <a href="https://www.theguardian.com/business/2025/feb/19/glencore-ditch-london-stock-exchange-new-york">said</a> for The Guardian.
Glencore has been on the LSE since its record-breaking $10 billion initial public offering in 2011. Today, the miner belongs to one of the 20 most valuable listings, with a market capitalization of £40 billion ($50 billion).
However, its <a href="https://www.glencore.com/media-and-insights/news/preliminary-results-2024">latest financial result</a> might catalyze a change. It reported a $1.6 billion net loss for 2024, in contrast to the previous year's $4.3 billion profit, as asset impairments weighted it down. 
Zinc and copper smelting assets suffered a $1.5 billion writedown, while South African coal operation value dropped by $600 million. Adjusted EBITDA declined 16% to $14.4 billion, reflecting a weaker commodity environment. While Glencore had previously considered spinning off its coal business in New York, the company ultimately decided to <a href="https://www.benzinga.com/m-a/24/08/40216672/glencore-votes-against-spinning-off-coal-remains-open-to-more-acquisitions">retain the assets</a>, recognizing the demand for fossil fuels in certain markets.
Glencore's potential departure would be yet another significant blow to the LSE, which has lost around 30% of listed companies since 2015. In 2024 alone, LSE saw 88 companies delist or relocate, marking the largest exodus in <a href="https://www.benzinga.com/economics/25/01/43314653/uk-faces-triple-threat-as-economic-uncertainty-hits">over a decade</a>.
Better valuations and favorable financial conditions are offered abroad—particularly in the U.S., which boasts deeper capital pools and no 0.5% stamp duty on share sales.
Meanwhile, Rio Tinto faces pressure to reconsider its London listing and <a href="https://www.benzinga.com/government/regulations/24/12/42334888/rio-tinto-ceo-defends-london-listing-outlines-future-growth-plans">abandon a dual listing structure</a>. Activist investor Palliser Capital recently pushed for the company to consolidate its shares in Australia, arguing that such a move would improve liquidity and potentially boost its market valuation. The global multi-strategy fund claimed that the dual listing has destroyed $50 billion in value and hampered mergers and acquisitions.
However, CEO Jakob Stausholm favors the current structure.
&#8220;We are a global company, we have global investors, and London kind of works for us. I just don&#8217;t believe that you&#8217;re going to change fundamentally your value by swapping exchange,&#8221; he said <a href="https://www.reuters.com/markets/commodities/rio-tinto-reports-smallest-full-year-profit-five-years-2025-02-19/">for</a> Reuters.
Rio Tinto reported its weakest full-year earnings in five years, with underlying earnings falling to $10.87 billion from $11.76 billion in the previous year. While the company remains heavily reliant on iron ore, its expansion into copper and aluminum has helped offset some of the weaker Chinese steel demand.
iShares MSCI United Kingdom ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWU#NYSE">EWU</a>) is up 7.88% year-to-date.
iShares MSCI Global Metals &amp; Mining Producers ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/PICK#BATS">PICK</a>), which contains both Glencore and Rio Tinto, is up 7.55% year-to-date.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/02/43858757/bullion-boom-gold-etfs-gain-as-geopolitical-storm-fuels-surge">Bullion Boom: Gold ETFs Gain As Geopolitical Storm Fuels Surge</a></li>
</ul>
Image: Shutterstock

Large Cap

Legal

GLCNF

Glencore, Rio Tinto Ponder Leaving London Stock Exchange As European Financial Hub Loses Luster

China's metal markets are waking up post-Lunar New Year, and JPMorgan analyst Dominic O'Kane is tracking <a href="https://www.benzinga.com/markets/commodities">some eye-catching trends</a>.
Copper and iron ore prices are at four-month highs, steel output is the strongest since 2021, and base metal inventories are running at record-low seasonal levels. 
The takeaway? A tight physical market could be setting the stage for a bullish move—if China's demand kicks in.
Read Also: <a href="https://www.benzinga.com/government/regulations/25/02/43603930/tech-stocks-surge-steelmakers-jump-on-trumps-25-tariffs-copper-hits-9-month-highs-whats-driving-markets-monday">Tech Stocks Surge, Steelmakers Jump On Trump&#8217;s 25% Tariffs, Copper Hits 9-Month Highs: What&#8217;s Driving Markets</a>
<h2 class="wp-block-heading">Copper's Mixed Signals</h2>
Copper prices have climbed 5% in the last two weeks to around $9,500 per ton, but China's domestic demand isn't quite keeping pace. JPMorgan points out that physical copper demand is lagging seasonal norms, reflected in a 20% drop in China's copper premia. 
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43432736/copper-stocks-on-shaky-ground-jpmorgan-analysts-say-tariffs-deepseek-cloud-outlook">Copper Stocks On Shaky Ground, JPMorgan Analysts Say: Tariffs, DeepSeek Cloud Outlook</a>
Still, O'Kane notes that global macro forces—like a strengthening yuan and anticipation of U.S. metal tariffs—are helping keep LME copper elevated. With inventories at five-year lows, JPMorgan sees copper climbing to $10,400 per ton by the fourth quarter of 2025.
For investors looking to capitalize, United States Copper Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPER#NYSE">CPER</a>) and Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>) offer exposure to copper's momentum.
<h2 class="wp-block-heading">Iron Ore Rallies Amid Supply Disruptions</h2>
Iron ore prices have surged 10% since January to $105 per ton, fueled by cyclone-related supply hits in Western Australia. While steel rebar demand in China took a weather-related dip, steel production is running at the fastest pace since 2021. JPMorgan is watching China's annual National People's Congress (March 5) for potential policy support that could further boost steel and iron ore markets.
Investors eyeing the iron ore trade might look at VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>) and iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>) for broad exposure.
<h2 class="wp-block-heading">Aluminium &amp; Zinc: Low Inventories, Limited Demand</h2>
Aluminium and zinc inventories are at multi-year lows, signaling tight supply. However, demand remains sluggish post-New Year, with aluminium inventories rising by 110kt last week. JPMorgan projects aluminium prices at $2,763 per ton for 2025, but stronger demand signals are needed for a sustained rally.
For those bullish on aluminium, iPath Series B Bloomberg Aluminum Subindex Total Return ETN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JJU#NYSE">JJU</a>) offers direct exposure.
<h2 class="wp-block-heading">Investors Await Next Big Move</h2>
China's metal markets are in flux—tight supplies and record-low inventories are colliding with sluggish post-holiday demand. 
JPMorgan's O'Kane sees China's upcoming policy moves as a key catalyst for the next leg in metal prices. 
With copper and iron ore already running hot, investors should keep an eye on ETFs like COPX, SLX, and PICK to position for the next big move.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43492445/critical-metal-demand-to-triple-by-2030-but-demographics-pose-risks">Critical Metal Demand To Triple By 2030, But Demographics Pose Risks</a></li>
</ul>

Asia

CPER

iPath DJ-UBS Aluminum Subindex Total Return ETN

China's Metal Markets Are Stirring - Here's What It Means for Commodity Investors

The energy transition is reshaping the global mining industry, with demand for critical minerals expected to surge over the coming decades. A shift toward renewable energy and electrification drives demand for commodities like copper, nickel, and <a target="_blank" href="https://www.benzinga.com/etfs/23/07/33233340/rare-earth-elements-explained" rel="noreferrer noopener">rare earth elements</a>.
According to BDO's Annual Mining Report, the demand for key energy transition minerals will <a target="_blank" href="https://www.bdo.co.uk/en-gb/insights/industries/natural-resources-and-energy/annual-mining-report" rel="noreferrer noopener">nearly triple by 2030</a> and quadruple by 2040.
Copper remains a cornerstone of the transition, as it is the only critical mineral vital for all clean energy technologies, such as solar, wind, electric vehicle (EV) manufacturing, and power grids.
While copper prices hit a record high in mid-2024, they later softened due to weak demand from China's property market. In 2025, forecasts suggest continued price constraints due to high inventories despite the long-term positive outlook.
Merger and acquisition activity has surged – with mining giant BHP <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/39068033/time-runs-out-for-bhp-deal-49-billion-acquisition-of-anglo-american-proves-too-complex-to-solve" rel="noreferrer noopener">unsuccessfully bidding</a> for Anglo American and launching a <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/40031488/bhp-to-unlock-south-american-copper-riches-partners-with-lundin-for-filo-acquisition" rel="noreferrer noopener">joint venture</a> with Lundin. Meanwhile, sector leader Freeport-McMoRan is opting for <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/41098074/freeport-mcmoran-sticks-with-organic-growth-takes-advantage-of-geodiversity" rel="noreferrer noopener">capex-driven internal expansion</a>.
Nickel, a metal essential for battery technologies, has faced a turbulent period. In 2024, an oversupply from Indonesia and China led to <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/07/39749321/bhp-halts-nickel-mine-were-not-able-to-overcome-economic-challenges-driven-by-oversupply" rel="noreferrer noopener">mine closures</a>, including those operated by Glencore and BHP. However, a rebound is expected in 2025 as supply surpluses narrow and demand for EV batteries remains strong.
Despite the forecasted price stabilization, industry players remain cautious, with some automakers shifting towards alternative battery chemistries that reduce dependence on nickel.
Zinc, another key transition metal used in wind and solar infrastructure, experienced a sluggish first half of 2024 due to subdued industrial activity but rebounded later in the year thanks to Chinese stimulus measures.
In 2025, BDO expects the demand to strengthen as renewable energy projects ramp up. Still, supply constraints and logistical challenges may continue to drive price fluctuations.
The rare earth element market is also in focus as countries look to diversify their supply chains since the U.S., China, and Myanmar account for 92% of global production.
President Donald Trump's recent remark shows the importance of this group of metals, which is vital for producing magnets.
"We're looking to do a deal with Ukraine where they're going to secure what we're giving them with their rare earths and other things," he said,<a target="_blank" href="https://www.reuters.com/markets/commodities/trump-says-he-wants-ukraine-supply-us-with-rare-earths-2025-02-03/" rel="noreferrer noopener"> per</a> Reuters.
Looking forward, despite opportunities created by the energy transition, BDO notes a pressing demographic challenge.
Per McKinsey's <a target="_blank" href="https://www.mckinsey.com/industries/metals-and-mining/our-insights/has-mining-lost-its-luster-why-talent-is-moving-elsewhere-and-how-to-bring-them-back" rel="noreferrer noopener">survey</a> of Canadian mining companies, 70% of people between 15 and 30 years old would not consider working in mining. Meanwhile, between 2016 and 2022, the number of mining engineering graduates in the U.S. fell by 41%.
While the industry tries to reverse the trend by integrating advanced technologies and enhancing sustainability efforts to create a more attractive work environment – closing the skills gap remains a key. To drive the next phase of mining evolution, the future workforce will need expertise in automation, AI, and environmental management.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43432736/copper-stocks-on-shaky-ground-jpmorgan-analysts-say-tariffs-deepseek-cloud-outlook" target="_blank" rel="noreferrer noopener">Copper Stocks On Shaky Ground, JPMorgan Analysts Say: Tariffs, DeepSeek Cloud Outlook</a></li>
</ul>
Photo via Shutterstock

SLVP

Critical Metal Demand To Triple By 2030, But Demographics Pose Risks

As metals markets weather volatility, optimism for a &#8220;V-shaped recovery&#8221; is gaining traction. JPMorgan analysts Dominic O&#8217;Kane and Patrick Jones suggest <a href="https://www.benzinga.com/markets/asia/24/12/42692036/billionaire-investors-michael-burry-david-tepper-could-benefit-from-chinas-stimulus-measures">China's expected fiscal stimulus</a> could be the turning point for the sector. 
With metal prices poised for a rebound, they urge investors to &#8220;accumulate positions in oversold miners&#8221; like Anglo American PLC (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTCQX">NGLOY</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTCQX">AAUKF</a>), First Quantum Minerals Ltd (OTCPK:FQVLF) and Lundin Mining Corp (OTCPK:LUNMF).
Exchange-traded funds like the SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>), the iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>) provide diversified exposure to the metals and mining sector.
<h2 class="wp-block-heading">Mining Stocks Set For Revival?</h2>
The 17% decline in European metals &amp; mining stocks since late September 2024 reflects market caution amid tariff risks and US$/CNY devaluation. However, analysts see this downturn as an opportunity for strategic investment. Anglo American faces near-term challenges, including $2 billion in impairments and delays in its diamond divestment strategy. Despite this, the company may emerge as an M&amp;A target post the Anglo Platinum de-merger.
Lundin Mining and Norsk Hydro ASA (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NHYDY#OTCQX">NHYDY</a>) stand out as resilient picks, with strong fundamentals that may help them weather tariff-related uncertainties. 
Analysts maintain a positive outlook on these names, expecting them to benefit from the broader market recovery.
Read Also: <a href="https://www.benzinga.com/markets/commodities/24/12/42455382/gold-to-shine-bright-in-2025-as-top-investment-bank-predicts-bullish-outlook-amid-trade-tensions">Gold To Shine Bright In 2025 As Top Investment Bank Predicts Bullish Outlook Amid Trade Tensions</a>
<h2 class="wp-block-heading">Gold Stocks Shine Amid Market Turbulence</h2>
Gold continues to prove its mettle as a safe-haven asset, with prices projected to rise to $2,100 per ounce. 
Stocks like AngloGold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>), Hochschild Mining PLC (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/HCHDF#OTCQX">HCHDF</a>), and Fresnillo PLC (OTCPK:FNLPF) remain key picks by the analysts, supported by strong silver production forecasts and rising demand for precious metals.
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) are popular ways to get exposure to gold miners&#8217; stocks.
The analysts highlight Fresnillo's silver production strength, placing it on a Positive Catalyst Watch.
<h2 class="wp-block-heading">China's Stimulus: The Tipping Point?</h2>
All eyes are on the March 5 National People&#8217;s Congress, where China is expected to announce fiscal measures that could fuel a surge in metal prices. 
The analysts believe these moves could trigger a sharp market recovery, solidifying the case for accumulating positions in mining stocks before a potential uptrend.
<h2 class="wp-block-heading">The Takeaway</h2>
As metals markets teeter on the edge of revival, accumulating oversold miners may offer strategic value ahead of a &#8220;V-shaped recovery.&#8221; 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/01/42986605/exclusive-energy-semiconductors-could-dominate-portfolios-in-2025-says-direxion-ceo" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Energy, Semiconductors Could Dominate Portfolios In 2025, Says Direxion CEO</a></li>
</ul>
Image created using photos from Shutterstock.

AAUKF

FNLPF

FQVLF

GDXJ

NGLOY

NHYDY

Will Gold, Mining Stocks Ride A 'V-Shaped Recovery'? Analysts Say Accumulate 'Oversold Miners'

Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reinforced its bullish outlook on gold, citing increased central bank demand and expectations of a U.S. Federal Reserve <a target="_blank" href="https://www.benzinga.com/federal-reserve" rel="noreferrer noopener">interest rate cut</a> tomorrow.
"While we see some tactical downside to gold prices under our economists' base case of a 25bp Fed cut on Wednesday, we reiterate our long gold trading recommendation and our price target of $2,700/oz by early 2025," the investment bank said in a note.
With the price of gold making new all-time highs, reaching 2589.60 on the spot market, the two-quarter upside price target of 5% doesn't seem much. At the moment, the market is pricing a 65% chance of a 50-basis-point cut tomorrow, <a target="_blank" href="https://www.google.com/search?client=firefox-b-d&amp;q=cme+fed+watchtool" rel="noreferrer noopener">per</a> the CME FedWatch tool.
Now read:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40861213/why-interest-rate-cuts-wont-automatically-boost-the-stock-market" rel="noreferrer noopener"> Why Interest Rate Cuts Won't Automatically Boost The Stock Market</a>
Gold is traditionally seen as a hedge against inflation and economic uncertainty. With the U.S. recession still in discussion and a Fed pivot toward more accommodative monetary policies, investor interest in gold is <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40689742/goldman-sachs-bullish-on-gold-wall-street-giant-targets-2-700-by-early-2025-driven-" rel="noreferrer noopener">expected to remain strong</a>, accompanied by buying from foreign central banks, <a target="_blank" href="https://www.benzinga.com/markets/asia/24/05/38649656/how-chinas-central-bank-gold-buying-frenzy-drove-prices-to-record-highs-attracting-gen-z-to-gold-bea" rel="noreferrer noopener">particularly China</a>.
The Fed's anticipated rate cuts could <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40861213/why-interest-rate-cuts-wont-automatically-boost-the-stock-market" rel="noreferrer noopener">lower bond yields</a>, making gold more attractive as it does not generate interest.
In contrast to its positive gold outlook, the bank recently downgraded its projection for iron ore prices. The bank slashed its fourth-quarter 2024 forecast by $15 per metric ton, lowering it to $85 due to concerns of oversupply despite stabilizing demand from China.
Despite China's attempts at economic stimulus and rising steel demand, the broader economic slowdown and the real estate crisis have dampened demand for iron ore. Its futures briefly dipped below $90, reaching the lowest point in almost two years.
Goldman noted that while there might be short-term support due to restocking ahead of the holiday week in October, but the continued buildup of iron ore inventories is likely to drive prices further down.
Supply-demand imbalances have been a key issue for the market, particularly with major players like Brazil's Vale and Australia's BHP maintaining production levels.
Kallanish Consulting analyst Ian Roper explained the current price dynamics <a target="_blank" href="https://www.bnnbloomberg.ca/business/international/2024/09/11/iron-ore-tests-floor-as-plunge-to-90-a-ton-puts-mines-at-risk/" rel="noreferrer noopener">for</a> Bloomberg.
"We need to eliminate about 100 million tons to balance this market, and to do that, we need prices to settle in the $80s," he noted.
Also read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40875211/bhp-group-sounds-alarm-on-copper-supply-ai-and-ev-growth-could-drive-prices-soaring-report" target="_blank" rel="noreferrer noopener">BHP Group Sounds Alarm on Copper Supply, AI and EV Growth Could Drive Prices Soaring: Report</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
Image via Shutterstock

Guidance

AAAU

GLDM

SGOL

SILJ

Goldman Sachs Sees Gold Higher, Takes A Downbeat Stance On Iron Ore

As April comes to a close, it&#8217;s time to compile the rankings for the top-performing sector and industry exchange-traded <a href="https://www.benzinga.com/etfs">funds of the month.</a>
Taking a broader look at the stock market, the S&amp;P 500 Index, represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), finished April on a downturn, declining by approximately 3%. This marks the end of a five-month streak of gains.
Similarly, the tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), experienced a 3.5% decline.
Among large-cap indices, blue-chip stocks showed slight underperformance, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) slipping by 4.5%.
Small-cap stocks, represented by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), plummeted by over 6%, marking their worst performance since October 2023.
Overall, it has been a challenging month for the stock market, primarily due to inflation surprises surpassing expectations. This has led to a recalibration of market expectations regarding potential Federal Reserve rate cuts.
Additionally, complex global geopolitical tensions have emerged, notably between Israel and Iran, alongside the ongoing issue in the Gaza Strip.
May is anticipated to start with a crucial event as investors await the Federal Reserve Open Market Committee <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">(FOMC) meeting on Wednesday. </a>
While no interest rate changes are expected, all eyes will be on Fed Chair Jerome Powell&#8216;s remarks to assess the Fed&#8217;s stance in response to recent inflation surprises.
Read also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38491988/federal-reserve-meeting-preview-high-interest-rates-need-more-time-to-work-bank-of-ame">Federal Reserve Meeting Preview: High Interest Rates &#8216;Need More Time To Work,&#8217; Bank of America Says</a>
<h2 class="wp-block-heading">Performance Of Sector ETFs In April 2024</h2>
At the sector level, only the utilities sector managed to avoid losses for the month, rising by 2.1%.
The largest stock contributors to the utilities&#8217; performance in April are NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), The Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) and NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) which showed monthly gains between 4% and 8%. 
Energy stocks remained broadly stable, while the other nine S&amp;P 500&#8217;s sectors showcased losses.
Real estate experienced the worst performance, down by over 7%, dragged down by its high sensitivity to interest rates, as Treasury yields increase across the board during the month. 
Following real estate, the technology and healthcare sectors also showed poor performance in April.
<h4 class="wp-block-heading">April&#8217;s Best And Worst Sector ETFs: Utilities Lead, Real Estate Lags</h4>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>April 2024 performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>2.06%</td>
</tr>
<tr>
<td>Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>0.01%</td>
</tr>
<tr>
<td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-1.11%</td>
</tr>
<tr>
<td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-3.23%</td>
</tr>
<tr>
<td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>-3.68%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-3.85%</td>
</tr>
<tr>
<td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-4.13%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-4.24%</td>
</tr>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>-4.78%</td>
</tr>
<tr>
<td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-7.83%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 2:50 p.m. EDT</figcaption></figure>
<h2 class="wp-block-heading">Performance Of Industry ETFs In April 2024</h2>
Based on the industry ETF list provided by BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) iShares, only five out of the 25 industries managed to report gains in April. Among them, miners did well across the board, with silver, copper, and gold mining stocks reporting robust gains. 
Standout contributors to the mining industry&#8217;s outperformance in April were Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>), up over 20%, Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), up 14%, Anglo American plc (OTCPK: AAUKF), up over 40%
Energy producers also managed to end the month in the green.
On the bottom side of the industry rankings, homebuilders, transportation, biotech stocks, digital infrastructure and real estate all report losses between 7% and 9.6% in April.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ETF Name</th>
<th>Performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>iShares MSCI Global Silver and Metals Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td>
<td>12.11%</td>
</tr>
<tr>
<td>iShares Copper and Metals Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>)</td>
<td>9.50%</td>
</tr>
<tr>
<td>iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>)</td>
<td>5.93%</td>
</tr>
<tr>
<td>iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>)</td>
<td>2.81%</td>
</tr>
<tr>
<td>iShares MSCI Global Energy Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FILL#NYSE">FILL</a>)</td>
<td>2.46%</td>
</tr>
<tr>
<td>iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>)</td>
<td>-1.16%</td>
</tr>
<tr>
<td>iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEO#NYSE">IEO</a>)</td>
<td>-1.37%</td>
</tr>
<tr>
<td>iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>)</td>
<td>-1.66%</td>
</tr>
<tr>
<td>iShares Lithium Miners and Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NYSE">ILIT</a>)</td>
<td>-3.30%</td>
</tr>
<tr>
<td>iShares U.S. Broker-Dealers &amp; Securities Exchange ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)</td>
<td>-3.74%</td>
</tr>
<tr>
<td>iShares U.S. Financial Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>)</td>
<td>-3.88%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-4.37%</td>
</tr>
<tr>
<td>iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>)</td>
<td>-4.40%</td>
</tr>
<tr>
<td>iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>)</td>
<td>-4.79%</td>
</tr>
<tr>
<td>iShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>)</td>
<td>-5.11%</td>
</tr>
<tr>
<td>iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-5.38%</td>
</tr>
<tr>
<td>iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>)</td>
<td>-5.45%</td>
</tr>
<tr>
<td>iShares Mortgage Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REM#NYSE">REM</a>)</td>
<td>-5.57%</td>
</tr>
<tr>
<td>iShares U.S. Medical Devices ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHI#NYSE">IHI</a>)</td>
<td>-5.75%</td>
</tr>
<tr>
<td>iShares Global Timber &amp; Forestry ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOOD#NYSE">WOOD</a>)</td>
<td>-6.20%</td>
</tr>
<tr>
<td>iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>)</td>
<td>-6.76%</td>
</tr>
<tr>
<td>iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>)</td>
<td>-7.12%</td>
</tr>
<tr>
<td>iShares Biotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NYSE">IBB</a>)</td>
<td>-7.23%</td>
</tr>
<tr>
<td>iShares U.S. Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYT#NYSE">IYT</a>)</td>
<td>-8.34%</td>
</tr>
<tr>
<td>iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>)</td>
<td>-9.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 3:15 p.m. EDT</figcaption></figure>
Now read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38497224/ai-data-centers-drive-electricity-demand-goldman-sachs-picks-16-stocks-to-play-the-">AI Data Centers Drive Electricity Demand: Goldman Sachs Picks 16 Stocks To Play The Trend</a>
Image generated using artificial intelligence via Midjourney.

Biotech

Equities

Market Summary

Mid Cap

REIT

Broad U.S. Equity ETFs

Health Care

Small Cap

Econ #s

Federal Reserve

Tech

Real Estate

SPDR Dow Jones Industrial Average ETF Trust

FILL

iShares Dow Jones US Broker Dealers Index Fund

iShares Dow Jones US Insurance Index Fund

iShares Dow Jones US Regional Banks Index Fund

iShares U.S. Digital Infrastructure and Real Estate ETF

IDGT

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

iShares Dow Jones US Oil Equipment & Services Index Fund

iShares Dow Jones US Pharmaceuticals Index Fund

iShares Dow Jones US Health Care Provides Index Fund

iShares Dow Jones US Medical Devices Index Fund

ILIT

iShares Dow Jones US Aerospace & Defense Index Fund

iShares Dow Jones US Homenstruction Index Fund

iShares Trust Dow Jones US Financial Services Index Fund

iShares Dow Jones Transportation Average Index Fund

PAAS

iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

iShares FTSE NAREIT Residential PLUS Capped Index Fund

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

iShares S&P Global Timber & Forestry Index Fund

WOOD

XLRE

Select Sector SPDR-Consumer Discretionary

April Showers On Wall Street:  Miners, Utilities Emerge As Bright Spots In Gloomy Market

Energy Fuels (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#AMEX">UUUU</a>) is gearing up for substantial expansion with plans to open two additional uranium mines <a href="https://www.benzinga.com/topic/mining">in Colorado and Wyoming. </a>
The Whirlwind and Nichols Ranch mines are expected to commence production within a year, potentially doubling Energy Fuels&#8217; uranium output and reaching a run rate of over two million pounds of U3O8 annually by 2025 if market conditions remain favorable. In 2024, the uranium market is experiencing heightened activity, with <a href="https://www.benzinga.com/news/earnings/24/02/37039843/cameco-highlights-2023-growth-benefits-of-nuclear-power-are-clearly-in-focus-ceo-says">miners raising production</a> and investment banks engaging <a href="https://www.benzinga.com/news/large-cap/24/02/37215578/goldman-sachs-enters-uranium-derivatives-market-as-prices-double-to-102-per-pound">in market making</a>.
&#8220;We hold a bullish long-term view of uranium prices, and we are investing to boost production,&#8221; CEO Mark Chalmers <a href="https://www.energyfuels.com/2024-02-23-Energy-Fuels-Announces-2023-Results-Record-Net-Income-and-Earnings-per-Share,-Uranium-Production-Ramp-Up,-and-Near-Term-Production-of-Separated-Rare-Earth-Elements">stated</a> in a press release.
The decision to capitalize on the current strength in uranium prices reflects the company&#8217;s strategic response to the surge in demand for uranium oxide – commonly known as yellowcake. The spot price of U3O8 recently reached an impressive high of $102.00 per pound, with the long-term price standing at $72.00 per pound, according to data <a href="https://www.uranium.info/">from</a> TradeTech.
Now read: <a href="https://www.benzinga.com/news/24/02/36968704/fission-uranium-announces-funding-for-uranium-project-in-saskatchewan">Fission Uranium Announces Funding For Uranium Project In Saskatchewan</a>
In 2023, Energy Fuels achieved record-breaking financial results, <a href="https://www.energyfuels.com/2024-02-23-Energy-Fuels-Announces-2023-Results-Record-Net-Income-and-Earnings-per-Share,-Uranium-Production-Ramp-Up,-and-Near-Term-Production-of-Separated-Rare-Earth-Elements">reporting</a> a net income of nearly $100 million, or 63 cents per share. The management noted a robust balance sheet that almost doubled in capital compared to 2022 and $76 million in product inventory at current commodity prices.
In 2024, these results could be even better, as the company contracted to sell 100,000 pounds in Q1 at an average sales price of $102.88 per pound, resulting in an approximate gross margin of 64%.
The company&#8217;s strategic moves, including the recent production start at Pinyon Plain in Arizona, La Sal, and Pandora in Utah, are set to contribute to its growing success. Annual uranium production is projected to reach 1.1 million to 1.4 million pounds this year as these three mines fully ramp up.
The company&#8217;s focus extends beyond immediate production goals. Energy Fuels plans to conduct exploration drilling on Nichols Ranch area properties in Wyoming and underground delineation drilling at Pinyon Plain. Additionally, they aim to advance permitting on large-scale properties like Roca Honda in New Mexico, Sheep Mountain in Wyoming, and Bullfrog in Utah, laying the groundwork for future uranium production.
&#8220;As long as market prices remain strong, we will continue to selectively capitalize on spot market sales opportunities as we ramp up our production in 2024 and beyond, all with limited capital,&#8221; Chalmers said, noting that Energy Fuels entered an "exclusive club" of profitable non-state-owned uranium mining companies.
For those interested in broadening their portfolio within the uranium mining space, here are three ETFs worth considering:
<ol>
<li>Global X Uranium ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URA#NYSE">URA</a>)
<ul>
<li>URA offers targeted exposure to a broad range of companies involved in uranium mining and the production of nuclear components. It&#8217;s designed to track the Solactive Global Uranium &amp; Nuclear Components Total Return Index, making it a comprehensive option for investors interested in the uranium sector.</li>
</ul>
</li>
<li>North Shore Global Uranium Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URNM#NYSE">URNM</a>)
<ul>
<li>URNM seeks to provide investment results that, before fees and expenses, correspond to the total return performance of the North Shore Global Uranium Mining Index. The ETF focuses on companies in the uranium mining industry, including those engaged in the extraction, exploration, development, and production of uranium, as well as companies that invest in uranium.</li>
</ul>
</li>
<li>VanEck Vectors Uranium+Nuclear Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NLR#NYSE">NLR</a>)
<ul>
<li>NLR aims to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS&#xAE; Global Uranium &amp; Nuclear Energy Index. The ETF provides exposure to companies involved in uranium mining, nuclear reactors, nuclear components and equipment, and the generation and distribution of nuclear energy.</li>
</ul>
</li>
</ol>
Also read: <a href="https://www.benzinga.com/news/24/02/37156929/south32s-2-16b-mining-investment-in-arizona-supports-bidens-clean-energy-vision">South32&#8217;s $2.16B Mining Investment In Arizona Supports Biden&#8217;s Clean Energy Vision</a>
Photo: Shutterstock

Earnings

URNM

UUUU

Energy Fuels Ramps Up: Colorado And Wyoming Mines To Skyrocket Uranium Production

Bank of America Global Research analysts are bullish on copper, aluminium, gold and iron ore, and bearish on nickel and lithium.
A re-acceleration of the Chinese economy could push aluminium and copper prices higher into yearend, while gold prices could rise with the end of the Federal Reserve&rsquo;s monetary tightening, analysts said in a note.
The assessment comes as iShares MSCI Global Metals &amp; Mining Producers ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/pick#BATS">PICK</a>) remains under significant pressure, even though nickel prices jumped <a href="https://www.benzinga.com/markets/commodities/22/03/26035977/russia-impact-london-metal-exchange-suspends-nickel-trading-after-250-price-spike">to a record $100,000 per tonne</a>.&nbsp;
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
The Global Metals Thesis: The rally in base metals, triggered by news of China reopening, ran out of steam in the first quarter, analysts explained.
The two factors providing direction to the markets will be &ldquo;the usual seasonal acceleration post Chinese New Year&rdquo; and any strengthening of China&#39;s economy, the analyst stated.
Although copper and steel inventories &ldquo;have been building around the Lunar New Year holidays,&rdquo; raw materials have been &ldquo;flowing out of warehouses of late,&rdquo; suggesting an upturn in demand, they added.
The analysts see limited upside for nickel, with China building conversion capacity.
&ldquo;Lithium has been extremely <a href="https://www.benzinga.com/money/most-volatile-stocks/">volatile</a>, and we expect further downside to prices,&rdquo; the analysts wrote. &ldquo;There is no shortage in lithium deposits, so producers can increase supply &mdash; one reason we are bearish in 2023/24.&quot;
PICK Price Action: The NAV for iShares MSCI Global Metals &amp; Mining Producers ETF declined by 2.06% to close Tuesday&rsquo;s trading session at $42.18.

Not Just Gold, But These Metals Could Make Your Portfolio Shine In 2023

The iShares MSCI Global Select Metals &amp; Mining Producers ETF&nbsp;(BATS: <a class="ticker" href="https://www.benzinga.com/stock/pick#BATS">PICK</a>) is down roughly 16.53% year-to-date. Despite being&nbsp;down, it was&nbsp;considerably better than the S&amp;P 500 down nearly 21% year-to-date.
This ETF offers access to the global mining industry through an international basket of companies engaged in the extraction <a href="https://www.benzinga.com/news/22/05/26998345/could-the-metals-and-mining-industry-soar-on-green-energy-revolution-while-reckoning-with-its-own-cl">and production of metals</a>.
Meanwhile, the international mining ETF&rsquo;s rival SPDR S&amp;P Metals &amp; Mining ETF (ARCA: XME)&nbsp;invested in U.S. mining companies and is up roughly 5.7 % year-to-date. This domestic mining ETF&rsquo;s top 15 holdings include copper-heavy miner Freeport-McMoRan Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcx#NYSE">FCX</a>), which has suffered in its third-quarter earnings due to falling copper prices.
A factor to consider when investing in mining companies is that their dividend increases can be inconsistent over the years as commodity prices are <a href="https://www.benzinga.com/money/most-volatile-stocks/">volatile</a>, especially when faced with high demand.
Go To: <a href="https://www.benzinga.com/money/personal-finance">Benzinga&#39;s&nbsp;Personal Finance Hub Educating You On Choosing The Appropriate Financial Resources&nbsp;</a>
Rio Tinto Group plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) is offering a dividend yield of 9.86% or $5.34 per share annually, utilizing semiannual payments, with an unpredictable track record of increasing its dividends.
Rio Tinto is a global diversified miner and its dominant commodity is iron ore, with significantly lesser contributions from copper, aluminum, diamonds, gold&nbsp;and industrial minerals.
&quot;Market conditions were good, albeit below last year&#39;s record levels. We delivered largely flat production and solid financial results, with an underlying EBITDA of $15.6 billion. As a result, we are paying our second highest-ever interim dividend of $4.3 billion, a 50% payout, in line with our policy. The market environment has become more challenging at the end of the period,&rdquo; said Rio Tinto&rsquo;s CEO&nbsp;Jakob Stausholm.
Vale SA&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vale#NYSE">VALE</a>) is offering a dividend yield of 8.30% or $1.12 per share annually, making semiannual payments, with an inconsistent track record of increasing its dividends.
Vale is a large global miner and the world&#39;s largest producer of iron ore and pellets. In recent years, the company has sold assets such as its fertilizer, coal&nbsp;and steel operations to concentrate on iron ore, nickel&nbsp;and copper.
On May 6,&nbsp;Vale disclosed it entered into a long-term contract with Tesla Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) to supply class one nickel in the U.S.&nbsp;from its operations in Canada. Vale&rsquo;s target is to deliver 30% to 40% of class one nickel sales into the fast-growing electric vehicle industry.
Vale announced on May 16&nbsp;that it concluded the buyback program started in October 2021, with 200 million shares repurchased&nbsp;at an average price of $ 17.56 per share&nbsp;totaling $3.5 billion. Vale also announced on April&nbsp;27 that it started a new buyback program, which is limited to the maximum purchase of 500 million common shares and their respective ADRs. The new program will be implemented over the next 18 months from the announcement date.
BHP Group Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) is offering a dividend yield of 6.62% or $3.25 per share annually, conducting semiannual payments, with an infrequent track record of increasing its dividend payments.
BHP Group is a global diversified miner supplying iron ore, copper, gold, metallurgical coal, nickel&nbsp;and potash.
BHP CEO Mike Henry&nbsp;commented:&nbsp;&ldquo;BHP delivered strong operational performance and disciplined cost control to realize record underlying earnings of $40.6 billion and record free cash flow of $24.3 billion.&rdquo;
In the second quarter of 2023 earnings release, BHP saw its nickel production grow by 16% quarter-over-quarter and <a href="https://www.benzinga.com/news/22/10/29130873/worlds-largest-miner-to-boost-its-green-credentials-read-how">copper production by 9%</a>.
Photo:&nbsp;<a href="https://www.shutterstock.com/g/RHJ">RHJPhtotos</a>&nbsp;via Shutterstock
&nbsp;

Dividends

General

TSLA

VALE

All That Glitters: What 3 Global Mining Companies Offer High-Yield Dividends?

The London Metal Exchange (LME) halted Nickel trading on Tuesday after prices doubled to a record $100,000 per tonne, fuelled by a race to cover short positions after Western sanctions threatened supply from major producer Russia,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/lme-suspends-nickel-trading-day-after-prices-see-record-run-2022-03-08/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported Reuters</a>.
&quot;The LME has taken this decision on orderly market grounds,&quot; said the LME, adding it was considering the closure of several days.
LME took action is because some position holders have been struggling to pay margin calls, noted traders.
What Happened:&nbsp;Margin requirements for nickel contracts raised by 12.5% to $2,250 a tonne, effective close of business Tuesday, and suspended nickel trading on all venues for at least the rest of the day.
&quot;The LME will actively plan for the reopening of the nickel market and will announce the mechanics of this to the market as soon as possible.&quot;
What Prompted It:&nbsp;This highlights the market panic created by Russia&#39;s invasion of Ukraine, with buyers scrambling for the metal crucial for making stainless steel and electric vehicle batteries.
Russia supplies about 10% of the world&#39;s nickel, along with Russia&#39;s Nornickel being the world&#39;s biggest supplier of battery-grade nickel at 15%-20% of global supply, stated JPMorgan analyst Dominic O&#39;Kane.
iPathA Series B Bloomberg Nickel Subindex Total Return ETN&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jjn#NYSE">JJN</a>) is up 17.3% premarket at $79.16 on the last check Tuesday.
Photo via Wikimedia

iPath Dow Jones UBS Nickel Subindex Total Return ETN

JJNC

PowerShares Dynamic Industrials Sector Portfolio

Russia Impact - London Metal Exchange Suspends Nickel Trading After 250% Price Spike

The Russian ruble was trading as low as 119 per U.S. dollar on Monday morning, down from 84 per dollar on Sunday, a decline of nearly 30%. The precipitous fall of Russia&#39;s currency comes in response to international backlash and sanctions against Russia following its invasion of Ukraine last week.
Russia&#39;s central bank announced on Monday that its stock and derivatives markets will remain closed on Monday, but plenty of Russia-linked stocks and ETFs are taking big hits in global markets on Monday.
Related Link: Gas Prices: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/02/25839753/gas-prices-why-russias-invasion-of-ukraine-will-increase-your-costs-at-the-pump">Why Russia&#39;s Invasion Of Ukraine Will Increase Your Costs At The Pump</a> 
RSX And SPY Funds: One of biggest victims is understandably the VanEck Russia ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/rsx#BATS">RSX</a>), which was down 22.4% on Monday morning. The RSX ETF is exposed specifically to Russia, so investors should understand how much of an impact the turmoil in Russia will have on their investment. But other popular ETFs also have a limited amount of exposure to Russia.
According to FactSet, S&amp;P 500 companies generate only about 1% of their total revenue from Russia and Ukraine, suggesting S&amp;P 500 <a href="https://www.benzinga.com/money/best-index-funds/">index funds</a> like he popular SDPR S&amp;P 500 ETF Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) are seeing extremely limited impact from the Russian conflict. Among S&amp;P 500 companies, Philip Morris International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pm#NYSE">PM</a>) generates the highest percentage of revenue from Russia and Ukraine at 8%.
PepsiCo, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>) and Mohawk Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mhk#NYSE">MHK</a>) are a distant second and third at under 4.5% of revenue each.
Other Russia-Exposed Funds: Investors who hold emerging markets ETFs have a small amount of exposure to Russia. About 2.7% of the popular <a href="https://www.benzinga.com/money/vanguard-review/">Vanguard</a> FTSE Emerging Markets ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vwo#NYSE">VWO</a>) stock holdings are Russian stocks, while 2% of iShares Core MSCI Emerging Markets ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iemg#NYSE">IEMG</a>) holdings are Russian. The WisdomTree Emerging Markets High Dividend Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dem#NYSE">DEM</a>) has a particularly high exposure to Russian stocks at 6.3%.
A handful of other thematic ETFs have small exposure to Russia. The iShares MSCI Global Metals &amp; Mining Producers ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/pick#BATS">PICK</a>) fund has 2.4% exposure to Russia. The Amplify Lithium &amp; Battery Technology ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/batt#NYSE">BATT</a>) fund has 2.2% exposure.
In addition, several Russian stocks that trade directly on major U.S. stock exchanges have now been halted, including Yandex NV (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/yndx#NASDAQ">YNDX</a>), QIWI PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qiwi#NASDAQ">QIWI</a>), Mechel PAO (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtl#NYSE">MTL</a>), Ozon Holdings PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ozon#NASDAQ">OZON</a>), HeadHunter Group PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hhr#NASDAQ">HHR</a>) and Nexters Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdev#NASDAQ">GDEV</a>).
Benzinga&#39;s Take: Despite the recent volatility in the U.S. market, most American investors are extremely insulated from direct investment in Russia or the Russian economy. In the last five days, the RSX fund is down a staggering 42%, while the SPY fund is actually up 0.5%.

Penny Stocks

Education

BATT

GDEV

IEMG

OZON

QIWI

Market Vectors Russia ETF Trust Shares of Beneficial Interest

YNDX

How The Collapse Of The Russian Ruble Could Impact Your Portfolio

China, the world's second-largest economy, delivered another positive economic data point overnight as the country's official purchasing managers' index for the services sector soared to 56.1 in December from 55.6 in November. A surge in construction services to 61.9 from 61.3 in November lead the way, bolstering proof that China's economy is in fact turning around.

Predictably, the turnaround in China's economy and its equities has lifted the fortunes of an array of <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/01/3208282/10-for-13-emerging-markets-etfs-for-2013">China-specific and other emerging markets ETFs</a>. However, investors looking to play a China rally with sector ETFs have some compelling options as well.

The still new iShares MSCI Global Select Metals &amp; Mining Producers Fund (NYSE: <a class="ticker" href="/stock/pick#NYSE">PICK</a>) comes to mind. PICK will celebrate its first birthday at the end of this month and over that time, the ETF has been a prodigious gather of assets, raking in $263.5 million in assets under management. That is an impressive tally for less than a year of work. 

Importantly, several of PICK's 285 holdings are intimately levered to a rebounding Chinese economy, as Street One Financial Vice President Paul Weisbruch highlights in a research note out today.

"With China based equities finally springing to life after a period of prolonged under-performance and noting that China is the largest single country component of the broad based MSCI Emerging Markets Index (19.01% weighting currently), PICK is well positioned to benefit from any demand for metals used in the construction/infrastructure build out process that is often linked to China and other emerging economies," said Weisbruch.

BHP Billiton (NYSE: <a class="ticker" href="/stock/bhp#NYSE">BHP</a>), the world's largest mining company, alone represents almost 20 percent of PICK's weight. Rivals Rio Tinto (NYSE: <a class="ticker" href="/stock/rio#NYSE">RIO</a>) and Vale (NYSE: <a class="ticker" href="/stock/vale#NYSE">VALE</a>) are also found among PICK's top-10 holdings along with U.S. copper giant Freeport-McMoRan (NYSE: <a class="ticker" href="/stock/fcx#NYSE">FCX</a>).

Weisbruch also notes that since PICK debuted in last January, the fund has outperformed the more established SPDR S&amp;P Metals &amp; Mining ETF (NYSE: <a class="ticker" href="/stock/xme#NYSE">XME</a>). XME has over $1 billion in AUM, but over the past six months, PICK is up 15.3 percent compared to a gain of 7.8 percent for XME.

Over the same time horizon, PICK has sharply outperformed Rio Tinto, Vale and Freeport. And although PICK is a sector fund, it does give investors plenty of emerging markets exposure at the country level. Brazil, South Korea, South Africa and Mexico are top-10 country weights. 

The fund also offers modest exposure to Taiwan, Russia, China, Indonesia, Malaysia, Chile <a href="http://us.ishares.com/content/stream.jsp?url=/content/en_us/repository/resource/fact_sheet/pick.pdf&amp;mimeType=application/pdf">and Turkey among others</a>.

Investors get all that with PICK for an annual expense ratio of 0.39 percent, which compares favorably with several popular, materials-heavy emerging markets ETFs.

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Short Ideas

New ETFs

Futures

Intraday Update

An Unheralded Sector ETF For China Exposure

Observers of the exchange-traded products industry know that 2012 has been long on closures, 99 to be a precise -- a record. They also know that new fund listings have reached "just" over 160 <a href="http://online.wsj.com/article/SB10001424127887323713104578133391130341574.html">according to Lipper data;</a> the slowest pace in several years.

However, an argument can be made that, broadly speaking, the lack of new ETF quantity has been made up for in terms of quality. Said another way, while a fair amount of 2012's new ETFs have niche focuses, many have investment objectives that are easy to understand and are not as opaque as some critics would like to believe. 

The good news for investors is that the straight forward investment objectives combined with <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/12/3152390/these-90-day-old-etfs-are-doing-just-fine">quick success in terms of asset-gathering and performance</a> bodes well for some of these ETFs on two levels. First, they could be equally if not more successful next year. Second, many of 2012's new ETFs look destined to be around for a while and not head to the ETF graveyard.

With that here is a review of some of the best new ETFs of 2012. Here, "best" means a combination of understandable investment objectives, asset-gathering proficiency and performance. Please not all of the successful new product launches of 2012 are included here.

PIMCO Total Return Exchange-Traded Fund (NYSE: <a class="ticker" href="/stock/bond#NYSE">BOND</a>)
There is not much more praise that can be heaped upon the Bill Gross ETF. Following its February 29 inception date, BOND is on track to haul in $4 billion in assets. BOND is already the largest actively managed ETF and the ETF has delivered the goods in terms of performance since its debut. In fact, it has been better than the Total Return Mutual Fund, the world's largest bond fund. By returns, AUM and ease of understanding what this ETF tries to do, BOND has impressed. There is no arguing that.

iShares MSCI Global Select Metals &amp; Mining Producers Fund (NYSE: <a class="ticker" href="/stock/pick#NYSE">PICK</a>)
On the basis of performance, PICK has been lousy as it has tumbled about 18 percent since its early February debut. That is not because this ETF is a bad idea. PICK's woes are attributable to not enough of 2012 being a risk on year. Investors have been worried about the Chinese economy, the fiscal cliff and a myriad of other issues that have hamstrung materials stocks.

PICK does deserve some credit for entering a crowded field (there is no shortage of equity-based mining ETFs) and proving adept at attracting assets. The fund has nearly $236 million and if 2013 brings a risk on flair, PICK could soar.

WisdomTree China Dividend Ex-Financials Fund (NASDAQ: <a class="ticker" href="/stock/chxf#NASDAQ">CHXF</a>)
The WisdomTree China Dividend Ex-Financials Fund is another ETF that entered an arena fraught with competition. There are hundreds of ETFs that offer some exposure to China, and in terms of China-specific funds, that universe is dominated by the iShares FTSE China 25 Index Fund (NYSE: <a class="ticker" href="/stock/fxi#NYSE">FXI</a>).

In other words, any new China-specific ETF that comes to market these days had better offer up something unique or risk being passed over in favor of more familiar fare. CHXF is unique. Not only does the fund feature a lower expense ratio than FXI, it excludes Chinese bank stocks in favor of Chinese equities with better dividend reputations. Up almost eight percent since its September debut, CHXF is straightforward in its approach and has accumulated $29.4 million in assets.

SPDR Barclays Short Term High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/sjnk#NYSE">SJNK</a>)
For all the attention being paid to <a href="http://www.benzinga.com/markets/bonds/12/11/3090840/not-all-junk-bond-etfs-suffering-outflows">outflows from large, longer duration junk bond ETFs</a>, SJNK is off to a banner start on the AUM front. Since its mid-March debut, SJNK has hauled in $548.3 million in assets and that number is steadily rising.

In late September, SJNK's AUM total was $289 million. A month ago, it was $433.1 million. SJNK's modified adjusted duration of 2.12 years is just under half that of its longer duration cousin, the SPDR Barclays High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/jnk#NYSE">JNK</a>). If there is a knock on SJNK it is that its longer duration rivals have outpaced it this year.

Market Vectors International High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/ihy#NYSE">IHY</a>)
Keeping with the theme of <a href="http://www.benzinga.com/news/12/12/3160109/etf-inflows-on-record-pace-in-2012-says-morningstar">soaring inflows to bond funds this year</a>, the Market Vectors International High Yield Bond ETF has been an unheralded beneficiary of that movement.

The simple explanation of what IHY does is that it is an international equivalent of JNK or the iShares iBoxx $ High Yield Corporate Bond Fund (NYSE: <a class="ticker" href="/stock/hyg#NYSE">HYG</a>). IHY is 10 basis cheaper than HYG and has the same expense ratio, 0.4 percent as JNK. The Market Vectors offering features a slightly higher 30-day SEC yield than its two larger rivals. Importantly, IHY has not deviated much from the performance of its U.S.-focused rivals. Since, its April debut IHY has slightly outpaced HYG while lagging JNK by a scant amount.

For those that believe a new ETF has to have $100 million in AUM to be validated as a "good" fund, IHY does better than that. The ETF now has over $201 million in assets, implying asset growth of nearly tenfold since late September.

Market Vectors Morningstar Wide Moat Research ETF (NYSE: <a class="ticker" href="/stock/moat#NYSE">MOAT</a>)
Upon debut, critics could have said that MOAT was too esoteric and too much of a niche play. Well, touting Warren Buffett's love of wide moat business has proven to be a smart marketing tool because MOAT has accumulated almost $99 million in AUM. Home to just 21 stocks, MOAT has jumped 6.6 percent since coming to market. An interesting footnote is that Facebook (NASDAQ: <a class="ticker" href="/stock/fb#NASDAQ">FB</a>) is currently MOAT's largest holding with a weight of almost 6.7 percent.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ: <a class="ticker" href="/stock/tdiv#NASDAQ">TDIV</a>)
The First Trust NASDAQ Technology Dividend Index Fund represents a direct play on an important theme for dividend investors: The tech sector's rise to dividend prominence. While yields are still not impressive across the board, tech is the largest dividend-paying sector in the U.S. in dollar terms. 

Add to that, with the massive cash hoards held by the likes of Microsoft (NASDAQ: <a class="ticker" href="/stock/msft#NASDAQ">MSFT</a>), IBM (NYSE: <a class="ticker" href="/stock/ibm#NYSE">IBM</a>) and other familiar tech names, the sector is expected to provided dividend growth in the coming years. That is assuming the fiscal cliff is avoided and that is the one of the hurdles TDIV faces in the near term. 

A unique aspect to TDIV is that it is not a straight tech play. Rather, the volatility that sector is often known for is tempered somewhat because the ETF is sure to include a 20 percent weight to telecommunications names at each rebalancing. That means Verizon (NYSE: <a class="ticker" href="/stock/vz#NYSE">VZ</a>), AT&amp;T (NYSE: <a class="ticker" href="/stock/t#NYSE">T</a>) and related issues are TDIV holdings. 

TDIV has outperformed the Nasdaq 100 since its August debut, but both have traded lower. Still, TDIV deserves credit for being a play on an important, that being dividend growth potential, and for garnering $46.4 million in AUM to this point.

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Emerging Market ETFs

After-Hours Center

BOND

CHXF

MOAT

MSFT

SJNK

TDIV

Some New ETFs Could be Stars in 2013

There are some undeniable truths about the state of the exchange-traded products industry. Assets are expected to rise in 2012 and in the coming years, but on the downside <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/09/2932369/global-x-will-close-4-etfs">fund closures are on the uptick, too</a>. 

Despite a turbulent market environment and intensifying competition, ETF sponsors continue to issue new products at a solid clip and <a href="http://www.benzinga.com/news/12/09/2930938/velocityshares-planning-3-emerging-markets-etfs">recent filing data indicate pipelines for future introductions</a> are robust. 

It is the debut of plans and for new ETFs and ETNs that shines a light on another undeniable truth: Not all new ETPs will succeed, but some will. In fact, a fair amount of funds that have debuted in 2012 are off to solid starts and that does not include the $2.7 billion PIMCO Total Return ETF (NYSE: <a class="ticker" href="/stock/bond#NYSE">BOND</a>). Not surprisingly, the "Bill Gross ETF" is in a league of its own when it comes to successful new ETFs.

A <a href="http://blogs.barrons.com/focusonfunds/2012/09/21/the-years-most-popular-new-stock-etfs/?mod=BOL_hpp_blog_fof">recent Barron's piece</a> highlighted several new funds that are prospering. 

We will look at some of those ETFs as well as add to the list right here:

iShares MSCI Global Select Metals &amp; Mining Producers Fund (NYSE: <a class="ticker" href="/stock/pick#NYSE">PICK</a>)

In an already <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/09/2930670/etf-showdown-materials-melee">crowded field for materials ETFs</a>, PICK has thrived, as Barron's noted. The fund has hauled in more than $221 million in AUM since its February debut. 

While PICK has clearly been a success, another pair of new iShares mining funds have seen mixed AUM performances. The iShares MSCI Global Gold Miners Fund (NYSE: <a class="ticker" href="/stock/ring#NYSE">RING</a>) and the iShares MSCI Global Silver Miners Fund (NYSE: <a class="ticker" href="/stock/slvp#NYSE">SLVP</a>) have notched stellar gains in recent weeks as gold and silver miners have surged, but the funds have just $41.4 million and $2.4 million in AUM, respectively. 

In the case of RING, that is not too bad for an ETF that debuted in February. However, both RING and SLVP prove it is tough to go up against well-established competitors such as the Market Vectors Gold Miners ETF (NYSE: <a class="ticker" href="/stock/gdx#NYSE">GDX</a>) and the Global X Silver Miners ETF (NYSE: <a class="ticker" href="/stock/sil#NYSE">SIL</a>).

Market Vectors Preferred Securities ex Financials ETF (NYSE: <a class="ticker" href="/stock/pfxf#NYSE">PFXF</a>)

Van Eck, parent company of Market Vectors, looks like it has struck gold with PFXF to this point. It is not surprising because PFXF has multiple selling points. For starters, are craving yield and PFXF features a 30-day SEC yield of 6.21 percent. 

Second, PFXF is truly unique in that it is the only ETF tracking preferred stocks that does not feature an absurd weight to financial services names. REITs account for a third of the fund's weight, but that is nothing compared to the 80 percent or higher allocation given to bank stocks by other preferred stock ETFs. Next, PFXF's expense ratio of 0.4 percent makes it the cheapest preferred stock ETF on the market.

Add all that up, and it is not surprising that the ETF has $67.3 million in AUM in just three months of trading. 

iShares MSCI Frontier 100 Index Fund (NYSE: <a class="ticker" href="/stock/fm#NYSE">FM</a>)

It might not be fair to include the iShares MSCI Frontier 100 Index Fund on this list because the fund is just starting its second full week of trading. That said, the newest entrant to the frontier market ETF competition is off to a banner start with almost $13 million in assets under management.

FM's debut was widely anticipated in some corners of the ETF industry and despite the elevated risk involved with frontier markets compared to emerging economies, FM has thus far lived up to the hype. Some might say it is too early to hop on the FM bandwagon and what could prove integral to the fund's success going forward is its ability to provide some form of decent liquidity in markets with a reputation for being illiquid. 

FM's <a href="http://us.ishares.com/content/stream.jsp?url=/content/en_us/repository/resource/fact_sheet/fm.pdf&amp;mimeType=application/pdf">fact sheet indicates measures are in place</a> to bolster liquidity and if the fund makes good on that, it could be one of the more popular new products of 2012.

SPDR Barclays Capital Short Term High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/sjnk#NYSE">SJNK</a>)

The SPDR Barclays Capital Short Term High Yield Bond ETF is an interesting case. One cannot look at this ETF and gloss over a modified adjusted duration of just over two years, meaning the fund is more exposed to changes in interest rates than its longer duration counterparts. 

Additionally, SJNK is completely overshadowed in junk bond ETF conversation by the iShares iBoxx $ High Yield Corporate Bond Fund (NYSE: <a class="ticker" href="/stock/hyg#NYSE">HYG</a>) and the SPDR Barclays Capital High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/jnk#NYSE">JNK</a>). Perhaps "overshadowed" is too harsh an assessment. SJNK has accumulated almost $289 million in AUM since its mid-March debut. That puts the fund in position to be one of this year's most successful new ETFs of any kind and probably no worse than the second-best new bond ETF in terms of AUM behind the PIMCO Total Return ETF.

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Bonds

Barron's

PFXF

Some New ETFs Already Impressing

Chinese manufacturing growth continued to slow in June, according to the China Federation of Logistics and Purchasing. The slowing pace of of China's largest economic sector raises further fears over the health of the Chinese economy.

The official Purchasing Manager's Index (PMI) fell to 50.2 in June from 50.4 in May. However, this did beat economists' expectations of 49.8. A PMI reading above 50 signals expansion in the manufacturing sector, whereas a reading below 50 signals contraction.

Even though the headline number beat expectations, sub-indexes--new orders, exports, and imports--all painted a gloomy picture of the health for the Chinese economy. The new orders sub-index, considered to be a leading indicator for future manufacturing growth, fell to 49.2 in June from 49.8 in May. New exports orders showed a rapid drop in June as well, falling to 47.5 in June from 50.4 previously. Imports also declined, falling to 46.5 from May's 48.1.

Chinese exports and imports continue to fall as China's largest trading partner, the European Monetary Union (EMU), continues to slip further into recession. Expectations of future trade slipped in the report, raising questions over whether China's target of 10 percent net trade growth in 2012 is achievable. After growing at a remarkable 15.3 percent annualized rate in May, some market watchers may begin to worry that the trade sub-indexes in this report will show that net export growth slowed in June. The 10 percent target would be difficult to reach if global trade continues to slow.

Commodities such as copper, whose prices are buoyed by Chinese manufacturing demand, sold off on the news. Copper's price fell about 0.61 percent to traded near $347.50 per pound in early New York trading. Oil also fell on the news; WTI crude fell nearly 1.2 percent to trade near $83.95 per barrel.

Further weakness in the Chinese economy would put additional pressure on copper prices. Traders who believe that the Chinese economy will continue to slow could consider shorting copper, either at spot or through an ETF such as the iPath DJ UBS Copper ETN (NYSE: <a class="ticker" href="/stock/jjc#NYSE">JJC</a>). Reduced copper demand could also hurt the Australian dollar (NYSE: <a class="ticker" href="/stock/fxa#NYSE">FXA</a>) and could impact miners as well,. Traders can get exposure to global miners via the MSCI Global Select Metals and Mining Producers Fund (NYSE: <a class="ticker" href="/stock/pick#NYSE">PICK</a>).

Economics

BROAD

iPath Dow Jones UBSpper Subindex Total Return ETN

Chinese Manufacturing Growth Slows in June

Perhaps comments from CEO Marius Kloppers in 2011 that his company, BHP Billiton (NYSE: <a class="ticker" href="/stock/bhp#NYSE">BHP</a>), would spend $80 billion to <a href="http://www.benzinga.com/commodities/11/02/875151/bhp-billiton-just-cant-leave-m-a-alone">develop and invest in its own mines and oil and gas fields</a> made investors think the world's largest mining company was taking a breather from large-scale mergers and acquisitions.

Last week, Deutsche Bank put a note out that said BHP could sell $10 billion in non-core assets and maybe that was interpreted as another sign the company was going to stay away from big deals for a little while.

Think again. This is Marius Kloppers and BHP Billiton we're talking about. Twice-bitten when it comes to big-time mergers and acquisitions, but never shy, Kloppers told Australian Broadcasting Corp. over the weekend "I have absolutely no doubt that over time we will do more transactions," Bloomberg reported.

Nearly $100 billion in international mining deals took place last year and BHP could help lead the mining sector to even higher M&amp;A figures over the next couple of years. Rather than engage in the burdensome act of finding specific targets for BHP, it might be easier to spot the ETFs that have multiple constituents that could appeal to the Anglo-Australian mining giant. Here are some to consider.

Market Vectors Coal ETF (NYSE: <a class="ticker" href="/stock/kol#NYSE">KOL</a>)
Coal prices are up this year, but U.S. companies have announced production cuts and that could lead some to believe demand is waning. BHP remains committed to its coal operations over the long haul and the Market Vectors Coal ETF is home to multiple companies that BHP could easily acquire. Top-10 holdings Alpha Natural Resources (NYSE: <a class="ticker" href="/stock/anr#NYSE">ANR</a>) and Walter Energy (NYSE: <a class="ticker" href="/stock/wlt#NYSE">WLT</a>) could be possibilities, though Walter might be more likely than Alpha Natural.

iShares MSCI Global Select Metals &amp; Mining Producers Fund (NYSE: <a class="ticker" href="/stock/pick#NYSE">PICK</a>)
The newly minted PICK hasn't been getting <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/02/2336392/etf-showdown-sibling-rivalry">much attention until recently</a> and BHP accounts for almost 18% of the ETF's weight. That said, PICK is home to over 300 more stocks in addition to BHP and that means there are plentiful pickings in PICK when it comes to potential objects of BHP's desire.

Market Vectors Agribusiness ETF (NYSE: <a class="ticker" href="/stock/moo#NYSE">MOO</a>)
Remember when BHP wanted to buy Potash (NYSE: <a class="ticker" href="/stock/pot#NYSE">POT</a>) for $39 billion? Remember when the Canadian government and Potash itself were less than receptive to the deal? Chances are Kloppers remembers and while that may keep him from making another run at Potash, it does NOT mean BHP won't consider another fertilizer acquisition should the opportunity become available. MOO is up more than 10% year-to-date, but there's nothing like some M&amp;A rumors to light an ETF's fire for more returns.

Market Vectors RVE Hard Assets Producers ETF (NYSE: <a class="ticker" href="/stock/hap#NYSE">HAP</a>)
HAP's top-10 holdings, BHP included, represent about a third of the ETF's weight and the other nine probably aren't legitimate takeover targets for BHP. However, HAP is home to another 333 stocks from the mining, fertilizer and oil and gas sectors. Put another way, HAP's lineup is a cornucopia of potential takeover targets for BHP. 

First Trust ISE-Revere Natural Gas Index Fund (NYSE: <a class="ticker" href="/stock/fcg#NYSE">FCG</a>)
A lot of people know that BHP is the world's largest mining company, but they may not realize the company is the world's seventh-largest upstream oil company. Fresh off the 2011 acquisition of Petrohawk Energy and a $4.75 billion deal for shale assets previously owned by Chesapeake Energy (NYSE: <a class="ticker" href="/stock/chk#NYSE">CHK</a>), BHP remains an acquirer to watch in the energy sector.

Maybe that means <a href="http://seekingalpha.com/article/321577-do-falling-natural-gas-prices-mean-chesapeake-is-a-target">a run at Chesapeake</a>. Maybe it doesn't, but FCG is chock full of companies BHP could easily afford to buy to bolster its oil and gas production.

Rumors

Asset Sales

Management

Pre-Market Outlook

First Trust ISE-Revere Natural Gas Index Fund

Market Vectors RVE Hard Assets Producers ETF

ETFs For A Prowling BHP Billiton

It's no secret that iShares, the world's largest ETF issuer, has been issuing new funds at warp speed this year. And it's no secret that some of those funds look a lot like other ETFs <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/02/2310295/more-me-too-etfs-from-ishares-debut-today">that have been around a while</a>.

What is interesting about some of the recently introduced iShares ETFs isn't so much that they compete with currently existing products from rival issuers. It is that some of the new iShares funds look a lot like older iShares ETFs.

Take the example of the iShares MSCI Global Select Metals &amp; Mining Producers Fund (NYSE: <a class="ticker" href="/stock/pick#NYSE">PICK</a>). Great ticker, but on the surface, this ETF looks like a kissing cousin to the iShares S&amp;P Global Materials ETF (NYSE: <a class="ticker" href="/stock/mxi#NYSE">MXI</a>). Despite a lack of frequent press, MXI will turn six this year and is currently home to $554.6 million in assets under management.

Here are MXI's top-10 holdings: Two versions of BHP Billiton (NYSE: <a class="ticker" href="/stock/bhp#NYSE">BHP</a>) shares, Rio Tinto (NYSE: <a class="ticker" href="/stock/rio#NYSE">RIO</a>), BASF, Anglo American, Vale (NYSE: <a class="ticker" href="/stock/vale#NYSE">VALE</a>), Barrick Gold (NYSE: <a class="ticker" href="/stock/abx#NYSE">ABX</a>), DuPont (NYSE: <a class="ticker" href="/stock/dd#NYSE">DD</a>), Freeport McMoRan (NYSE: <a class="ticker" href="/stock/fcx#NYSE">FCX</a>) and Monsanto (NYSE: <a class="ticker" href="/stock/mon#NYSE">MON</a>).

Accounting for two versions each of BHP, Rio Tinto and Vale, Anglo American and Freeport, PICK has eight of the same top-10 holdings MXI thought the allocations differ. With that, it's easy to see why some might assume these funds are eerily similar to each other.

But hold on. There are big differences. For example, MXI has an expense ratio of 0.48% and his home to 126 stocks. Those numbers change dramatically with PICK, which charges 0.39% and is home to almost 310 stocks. 

MXI offers exposure to non-mining materials plays such as fertilizer and chemicals producers and is heavier on precious metals miners. In fact, chemicals producers, fertilizer firms included, account for a third of MXI's weight. On the other hand, PICK is 100% miners, aluminum companies, steel producers and related fare.

Both funds are decidedly international in their country allocations, but there's a big difference here as well. Almost 24% of MXI's weight lies with U.S. companies, but that number drops to just over 11% with PICK's lineup. Overall, MXI offers exposure to approximately 25 countries. That number jumps to over 35 with PICK.

Given PICK's small data set (the ETF's inception date is January 31), it's not yet relevant to compare the performance of these two ETFs. However, we do want to PICK a winner, pun intended. We'll admit there have been times <a href="http://www.benzinga.com/trading-ideas/long-ideas/11/12/2168889/have-these-mining-etfs-found-a-bottom">when we liked MXI</a> but on the basis of more stocks, more countries and lower fees, we're going to side with the newly minted PICK in this week's ETF Showdown.

iShares S&P Global Materials Sector Index Fund

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