La chaîne d'options affiche les données clés des options sur actions de Southern Copper à différents prix d'exercice et dates d'expiration. Les traders utilisent ces informations pour analyser les transactions potentielles et évaluer le sentiment du marché pour Southern Copper..

Southern Copper (NYSE:SCCO) Stock, Chaîne d'Options

Southern Copper

Southern Copper Corp is an integrated producer of copper and other minerals and operates the mining, smelting, and refining facilities in Peru and Mexico. Its production includes copper, molybdenum, zinc, and silver. The company operates through the following segments: Peruvian operations, Mexican open-pit operations, and Mexican underground mining operations. Southern Copper generates the majority of its revenue from the sale of copper and the rest from the sale of non-copper products, such as molybdenum, silver, zinc, lead, and gold. The company's geographical segments are The Americas, Europe, and Asia.

Southern Copper Corp

Wall Street traded lower for the second consecutive day on Tuesday, as investor sentiment turned cautious with the U.S. presidential election <a href="https://www.benzinga.com/topic/2024-elections">just two weeks away. </a>
Concerns over U.S. fiscal policies and potential shifts in economic direction fueled the pause in risk-taking.
The International Monetary Fund (IMF) upgraded its U.S. growth forecasts for 2024 and 2025 in the latest World Economic Outlook, while also flagging rising concerns about the country's debt trajectory, warning that with current large fiscal deficits, &#8220;the U.S. public debt is not stabilized.&#8221;
Commodities were the standout performers on Tuesday, with both metals and energy experiencing notable gains.
Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 0.8%, pushing further into record territory. This increase extended its year-to-date performance to 34%, positioning gold for its strongest <a href="https://www.benzinga.com/markets/bonds/24/10/41455678/gold-on-track-for-best-year-since-1979-veteran-investor-says-sell-bonds-buy-gold">annual gain since 1979.</a> Gold miners, as represented by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), rallied for the ninth consecutive session, hitting their highest levels in over four years.
Silver, tracked by the iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>), surged 2.8%, reaching levels not seen since October 2012.
Oil prices rallied nearly 3%, building on a 2% surge from Monday. U.S. Treasury yields ticked up modestly on Tuesday following Monday's spike, with the 10-year yield settling at 4.21%.
Meanwhile, the U.S. Dollar Index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), climbed past the 104 mark, continuing its steady ascent and eyeing a fourth consecutive week of gains.
In the cryptocurrency market, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 0.5%, dipping to around $67,000 and marking its second consecutive day of declines.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %change</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,907.57</td>
<td>-0.1 %</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,840.39</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,291.15</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,228.60</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102224&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.3% to $581.79.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% lower to $429.14.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.4% to $493.29.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.5% $221.04.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 0.6%. The Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down 1.1%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Performers</h3>
General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) surged 9%, on track for its strongest session in nearly a year, after reporting stronger-than-expected earnings and announcing an additional $5 billion share buyback program extending into next year.
Other stocks reacting to earnings include: 
<ul>
<li>Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), up 1.5%</li>
<li>Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), down 6%</li>
<li>W.R. Berkley Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>), down 4.6%</li>
<li>Zion Bancorp. N.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>), up 6.8%</li>
<li>Wintrust Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>), up 1.6%</li>
<li>Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), up 8.8%</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), down over 8%</li>
<li>Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), down 3%</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), down 4.4%</li>
<li>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), down 0.4%</li>
<li>Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), down 5.8%</li>
<li>Fiserv Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), down 0.4%</li>
<li>Moodys Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) down 4.5%</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), down 0.9%</li>
<li>Freeport-McMoran Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), up 1.4%</li>
<li>Kimberly-Clark Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), down 4%</li>
<li>PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), down 5.7%</li>
</ul>
Large-cap companies reporting earnings after the close include Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), Seagate Technology Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>), Manhattan Associates Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>), East West Bancorp. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) and Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>)
Now Read:
<ul>
<li><a href="https://www.benzinga.com/government/24/10/41455013/how-us-elections-could-impact-us-dollar-goldman-sachs-expects-greenback-will-remain-stronger-for-lon">How US Elections Could Impact US Dollar: Goldman Sachs Expects Greenback Will Remain &#8216;Stronger For Longer&#8217;</a></li>
</ul>
Image: Shutterstock

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Equities

Large Cap

Mid Cap

Sector ETFs

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$BTC

SPDR Dow Jones Industrial Average ETF Trust

ENPH

EWBC

Market Vectors ETF Trust Market Vectors Gold Miners

MANH

SCCO

PowerShares DB US Dollar Index Bullish Fund

WTFC

ZION

Stocks Fall, GM Eyes Best Day In A Year, Gold Breaks Records, Silver Hits 12-Year Highs: What's Driving Markets Tuesday?

WIIM

TECK

Shares of copper companies are trading lower possibly after China's September exports data missed estimates. Betting markets project Donald Trump's victory in the U.S. presidential election, which may result in a decline in demand for commodities related to renewable energy.

Scotiabank analyst Alfonso Salazar maintains Southern Copper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) with a Sector Underperform and lowers the price target from $54 to $52.

News

Price Target

Analyst Ratings

Scotiabank Maintains Sector Underperform on Southern Copper, Lowers Price Target to $52

VALE

Shares of copper and iron ore companies are trading lower amid China stimulus uncertainty.

Citigroup analyst Alexander Hacking maintains Southern Copper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) with a Sell and raises the price target from $99.44 to $100.

Citigroup Maintains Sell on Southern Copper, Raises Price Target to $100

As of Sept. 27, 2024, four stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Freeport-McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>)</h3>
<ul>
<li>On Sept. 25, Freeport said its Board of Directors declared cash dividends of 15 cents per share on FCX&#8217;s common stock payable on Nov. 1, to shareholders of record as of Oct. 15. The company's stock gained around 17% over the past five days and has a <a href="https://www.benzinga.com/quote/FCX">52-week high of $55.24</a>.</li>
<li>RSI Value: 76.95&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>FCX Price Action: Shares of Freeport-McMoRan gained 7.5% to close at $51.91 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Mp Materials Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>)</h3>
<ul>
<li>On Sept. 3, MP Materials approved a $300 million increase to the company&#8217;s existing share repurchase program, bringing the total authorized amount to $600 million. &#8220;We remain very confident in the long-term value of our assets and the MP platform,&#8221; said James Litinsky, Founder, Chairman, and CEO of MP Materials. &#8220;As we have consistently stated, subject to continuing to maintain a fortress balance sheet, we expect to be opportunistic in our approach to capital allocation to create value for shareholders.&#8221;The company's stock gained around 20% over the past five days and <a href="https://www.benzinga.com/quote/MP">has a 52-week high</a> of $20.85.</li>
<li>RSI Value: 78.23</li>
<li>MP Price Action: Shares of Mp Materials rose 4.6% to close at $16.90 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">ArcelorMittal SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>)</h3>
<ul>
<li>On Aug. 28, Deutsche Bank analyst Bastian Synagowitz upgraded ArcelorMittal from Hold to Buy and raised the price target from $29 to $31. The company's stock gained around 10% over the past month and has a <a href="https://www.benzinga.com/quote/MT">52-week high</a> of $29.01.</li>
<li>RSI Value: 72.57</li>
<li>MT Price Action: Shares of ArcelorMittal gained 5.1% to close at $25.93 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Southern Copper Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</h3>
<ul>
<li>On Sept. 19, Morgan Stanley analyst Carlos De Alba maintained Southern Copper with an Underweight and raised the price target from $97 to $100. The company's stock jumped around 15% over the past five days and has a 52-week high is $129.07.</li>
<li>RSI Value: 73.34</li>
<li>SCCO Price Action: Shares of Southern Copper gained 8.2% to close at $120.43 on Wednesday. </li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/41055695/wall-streets-most-accurate-analysts-spotlight-on-3-real-estate-stocks-delivering-high-dividend-yield">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Real Estate Stocks Delivering High-Dividend Yields</a></li>
</ul>

Short Ideas

Pre-Market Outlook

Markets

Trading Ideas

Top 4 Materials Stocks That May Implode In Q3

Shares of copper companies are trading higher following a report suggesting China will issue up to $284 billion of sovereign debt as part of a stimulus.

Majorie Taylor Greene disclosed new stock transactions this week, which come as public efforts to ban members of Congress from trading continue to grow over <a href="https://www.benzinga.com/general/politics/24/05/39096827/exclusive-khanna-says-shameful-congress-members-profited-from-stocks-calls-for-trading-ban-makin">potential conflicts of interest.</a>
Here are the latest trades by the Republican House member from Georgia.
 What Happened: Greene has increased her frequency of trading disclosures <a href="https://www.benzinga.com/markets/equities/24/05/38611874/marjorie-taylor-greene-reveals-new-stock-trades-after-2-year-gap-berkshire-hathway-goldman-sachs">in recent months</a> with several large batches of stock purchases announced recently after a two-year hiatus of disclosures.
On Sept. 23, Greene disclosed her latest transactions, as reported by<a href="https://www.benzinga.com/gov-trades/members/marjorie-taylor-greene"> Benzinga's Government Trades page.</a>
Here are the stocks Greene bought, with each one disclosed as a value of $1,000 to $15,000:
<ul>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</li>
<li>Berkshire Hathaway B (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)</li>
<li>Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>)</li>
<li>Cardinal Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>)</li>
<li>CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>)</li>
<li>Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</li>
<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</li>
<li>Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</li>
<li>Southern Copper Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NASDAQ">SCCO</a>)</li>
<li>United Parcel Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>)</li>
</ul>
Several of these purchases add to recent stakes taken by the representative, including shares of Berkshire Hathaway, Microsoft and CrowdStrike.
The disclosure by Greene did not report any sale transactions, which means the congresswoman continues to hold her Trump Media &amp; Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares <a href="https://www.benzinga.com/general/social-media/24/08/40475137/djt-stock-hits-new-lows-since-trump-media-companys-public-debut-heres-how-much-marjorie-tayl">bought in October 2021.</a>
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Greene disclosed buying Digital World Acquisition shares back in October 2021, the SPAC that took Donald Trump's media company public in March 2024.
The transaction was done with shares trading between $67.96 to $118.80. A tweet from UnusualWhales pins the purchase price at $94.20, meaning Greene is down significantly on her $15,000 to $50,000 purchase in the Trump-linked stock. Shares of DJT trade at $13.63 at the time of writing.
Greene buying CrowdStrike shares continues to be an area to watch as <a href="https://www.benzinga.com/general/politics/24/07/39585140/marjorie-taylor-greene-buys-cybersecurity-stock-owned-by-nancy-pelosi-why-trade-could-draw-red-f">Benzinga previously reported</a> the representative sits on the Subcommittee on Cybersecurity, Information Technology and Government Innovation, which operates under the House Committee on Oversight and Accountability.
With the latest stock transactions, Greene has increased her holdings in technology stocks along with placing bets on Warren Buffett to continue powering Berkshire Hathaway along after the stock hit a $1 trillion market capitalization.
Not many can say that their investing portfolios are betting on Donald Trump and Warren Buffett, but Greene can.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Government

Politics

CRWD

GOOG

INTC

LRCX

MSFT

Marjorie Taylor Greene Stays Loyal To Trump, Keeps DJT Stock, Buys Into Warren Buffett's Berkshire In Latest Trades

Wall Street inched higher on Tuesday, with the Nasdaq 100 outperforming other major indices, while cyclical sectors linked to metals and industrial commodities saw strong gains, fueled by a surprise stimulus package <a href="https://www.benzinga.com/markets/asia/24/09/41003814/chinese-stocks-jump-as-central-bank-unveils-major-stimulus-to-spur-economy-a-step-in-the-right-direc">from China&#8217;s central bank.</a>
The People&#8217;s Bank of China (PBOC) unveiled a series of aggressive measures, including cuts to the reserve requirement ratio (RRR) for banks and a reduction in the seven-day repo rate, following a recent cut to the 14-day reverse repo rate. These moves are expected to inject roughly $140 billion (1 trillion yuan) into the banking system, providing banks with additional liquidity to boost lending.
Chinese equities skyrocketed on the news, with the iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) soaring over 8%, marking its largest single-day gain since March 2022. 
Commodities followed suit with copper and silver climbing more than 3% each, while gold rose 0.7%, hitting record highs for the fourth consecutive session.
The Nasdaq 100 posted a 0.5% gain, leading U.S. indices, while the S&amp;P 500 remained nearly flat, hovering just shy of its all-time highs. 
The U.S. dollar weakened by 0.4% following a lower-than-expected September consumer confidence report from the Conference Board. This data has bolstered expectations for a potential 50-basis-point rate cut by the Federal Reserve in November.
Treasury yields fell on short-term maturities, while longer-dated yields held steady. Oil prices climbed 1.2%, though concerns about U.S. demand lingered due to the disappointing consumer confidence figures.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped 0.2% failing to join the China-led rally across other risk assets.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,958.91</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,726.37</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,218.10</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,081.24</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.1% to $570.49.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $420.90.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.6% to $485.85.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) stalled at $220.69.</li>
<li>The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) outperformed, up 1.2%. The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) lagged, down 1.2%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Chinese stocks rallying Tuesday included Tencent Music Entertainment Group &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) up 14%, JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) up over 10%, PDD Holdings Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) up 10%, XPeng Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) up 9%, NIO Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) up 8.7% and Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) up 9%.</li>
<li>NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rallied nearly 4% amid rising growth prospect in China.</li>
<li>Materials stocks showing the largest gains were MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) up 10%, Freeport McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) up 7.5%, Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) up 7.6%, and Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), up 7.3%.</li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/markets/asia/24/09/41007724/gold-breaks-records-on-chinas-policy-stimulus-mining-metal-stocks-exhibit-strongest-1-day-rally-in-2">Gold Breaks Records On China&#8217;s Policy Stimulus: Mining, Metal Stocks Exhibit Strongest 1-Day Rally In 2024</a></li>
</ul>
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Tech Stocks Rise, Materials Sector Rallies On China's Stimulus, Nvidia Surges: What's Driving Markets Tuesday?

Shares of copper stocks are trading higher after China Central Bank announced a new stimulus package.

Morgan Stanley analyst Carlos De Alba maintains Southern Copper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) with a Underweight and raises the price target from $97 to $100.

Morgan Stanley Maintains Underweight on Southern Copper, Raises Price Target to $100

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Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Shares of copper stocks are trading higher amid a rise in the metal's price after the Fed cut rates by 50 basis points at the FOMC yesterday.

Southern Copper shares are trading higher in possible sympathy with the broader market after the Fed's policy decision to cut rates by 50 basis points.

Despite the global copper market&#8217;s looming long-term supply deficit, talk of substitution as a savior is more smoke than fire, according to JPMorgan <a href="https://www.benzinga.com/topic/copper">analyst Patrick Jones</a>. 
While concerns about copper being swapped out for cheaper materials have been frequent, Jones notes, &#8220;Substitution &amp; thrifting could accelerate over the medium term, especially in newer technologies such as xEVs and renewables, we do not believe it will be sufficient to fill the long-term market deficit.&#8221;
<h2 class="wp-block-heading">Why It Matters: No Escape From Deficits</h2>
The energy transition has put copper in the spotlight, with demand surging due to its vital role in electric vehicles (EVs) and renewable energy infrastructure.
As Jones highlights, &#8220;xEVs typically contain 2-4x as much copper as Internal Combustion Engine vehicles,&#8221; which positions copper as a vital component for future technologies. Even though improvements in battery technology could reduce copper intensity in EVs, growing vehicle size and battery density are likely to offset these gains.
<h2 class="wp-block-heading">The China Conundrum</h2>
China, responsible for over half of global copper demand, poses a unique challenge when it comes to substitution. &#8220;In power generation, we do not expect significant further aluminum adoption in thermal power generation or offshore wind, given technological constraints and significant substitution has already occurred in onshore wind,&#8221; Jones says.
Although <a href="https://www.benzinga.com/topic/solar-energy">solar power</a> could see increased <a href="https://www.benzinga.com/topic/aluminum">aluminum</a> use, safety concerns and regulatory hurdles remain significant barriers to its broader adoption in other areas.
Jones also emphasizes the importance of copper recycling: &#8220;Now that historic copper networks are being replaced, this ‘urban mining' could release material copper scrap supply by 2030.&#8221;
<h2 class="wp-block-heading">Mining Plays To Watch</h2>
JPMorgan remains positive on long-term copper prices and equity exposure. In North America, Jones favors Teck Resources Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>), while in Europe, he highlights Lundin Mining Corp (OTCPK:LUNMF) for its &#8220;re-rating potential and de-risked growth pipeline.&#8221; 
In APAC, Sandfire Resources America Inc (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/SRAFF#OTCQB">SRAFF</a>), Zijin Mining Group Co Ltd (OTCPK:ZIJMF), and CMOC Group Ltd (OTCPK:CMCLF) are top picks, with Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) and Anglo American PLC (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTCQX">AAUKF</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTCQX">NGLOY</a>) being key diversified miners deriving over 20% of their EBITDA from copper by 2025.
Jones remains cautious, however, on miners with &#8220;more expensive valuations and more idiosyncratic risks,&#8221; including Antofagasta PLC (OTCPK:ANFGF), Southern Copper Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), and Jiangxi Copper Co Ltd (OTCPK:JIAXF).
Read Also: <a href="https://www.benzinga.com/news/24/09/40684007/teck-resources-unveils-post-coal-business-structure-promotes-new-executives">Teck Resources Unveils Post-Coal Business Structure, Promotes New Executives</a>
<h2 class="wp-block-heading">Electrification Boom: Another Copper Catalyst</h2>
Beyond mining, Jones points out that greater electrification is a strong driver for cable and charging infrastructure names like Prysmian SpA (OTCPK:PRYMF) (OTCPK:PRYMY), ChargePoint Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>), Xuji Electric, and Sieyuan Electric. 
In addition, he sees a potential upside for telecoms like BT Group PLC (OTCPK:BTGOF), which stands to benefit from recycling legacy copper telecoms wiring, with the company expecting to recycle about 200kt of copper from its network.
&#8220;We forecast the global copper market will face a ~4 mmt deficit by 2030E given accelerating demand growth and limited supply additions,&#8221; Jones concludes, also stating that while &#8220;substitution could diminish demand and delay larger deficits, it is unlikely to close the long-term supply gap.&#8221; 
Investors should brace for higher copper prices as the supply-demand gap widens, with mining and electrification plays looking poised to benefit.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40348381/small-caps-set-for-a-comeback-heres-why-they-deserve-your-attention">Small Caps Set For A Comeback? Here&#8217;s Why They Deserve Your Attention</a></li>
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Copper Deficit To Reach 4 Million Tons By 2030, Analyst Predicts: Mining, Electrification Plays Set To Benefit

Shares of US-listed copper companies are trading lower amid reports suggesting that Goldman Sachs cut the commodity's forecast due to softer Chinese demand.

Shares of copper stocks are trading lower amid a drop in copper prices.

Shares of companies in the broader metals sector are trading lower amid an overall market selloff on weak US jobs data.

Southern Copper Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/scco#NYSE">SCCO</a>) reported second-quarter 2024 earnings of $1.22 per share, which beat the Zacks Consensus Estimate of $1.13. The bottom line marked a 73% improvement from the -year-ago quarter, mainly driven by higher sales volumes and prices of copper, molybdenum, silver and zinc. This was somewhat offset by elevated operating costs related to sales volumes, G&amp;A and exploration expenses.
Net sales were $3.12 billion, up 35.5% from the year-ago quarter. The figure also surpassed the consensus estimate of $2.96 billion.&nbsp;
Southern Copper reported a 78.1% year-over-year surge in zinc sales volumes. Molybdenum volumes were up 21.4%, silver volumes improved 31.6% and copper sales volumes were up 5.5%. The rise in sales volumes as well as higher prices for copper (15%), molybdenum (3.9%), zinc (12.2%) and silver (19%) drove the increase in sales.&nbsp;
The cost of sales rose 9% year over year to $1.25 billion. Total operating costs were up 8% year over year to $1.5 billion.
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<h3>Southern Copper Corporation Price, Consensus and EPS Surprise</h3>
<img alt="Southern Copper Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/cc/1722357799.png" style="height:283px; width:620px" title="" />
Southern Copper Corporation price-consensus-eps-surprise-chart | Southern Copper Corporation Quote
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Operating profit was $1.6 billion, reflecting a 78.5% year-over-year improvement. The operating margin was 51.5% compared with 39.1% in the year-ago quarter. Adjusted EBITDA jumped 61% year over year to $1.8 billion. Adjusted EBITDA margin was 57.6%, a 914-basis point expansion from the year-ago quarter&#39;s margin of 48.5%.
<h3>Production Details</h3>
Copper: SCCO mined 242,474 tons of copper, up 7% year over year. This was driven by an increase in production at the company&#39;s Peruvian operations due to higher ore grades. Copper sales were up 5.5% year over year to 231,105 tons.
Molybdenum: The company mined 7,654 tons of molybdenum, reflecting a year-over-year improvement of 21%, driven by higher output at all operations, barring La Caridad, as well as higher ore grades and recoveries. Molybdenum sales were 7,640 tons, a 21.4% increase from 6,295 tons in the second quarter of 2023.
Zinc: The company&#39;s zinc production surged 73% year over year to 29,419 tons attributed to the contribution from the new Buenavista zinc concentrator. Zinc sales surged 78% year over year to 39,012 tons.
Silver: Southern Copper&#39;s silver production was up 8% year over year to 5.2 million ounces. Sales increased 31.6% year over year to 5.3 million ounces.
<h3>Cash Flow &amp; Balance Sheet Updates</h3>
Southern Copper generated net cash from operating activities of around $1 billion, up from $0.8 billion in the year-ago comparable quarter. Cash and cash equivalents were $1.9 billion at the end of the quarter compared with $1.15 billion as of the end of 2023. Long-term debt was $5.76 billion as of Jun 30, 2024, lower than the debt balance of $6.25 billion as of Dec 31, 2023.
SCCO made capital investments worth $332 million, 31.4% higher than the spending in the year-ago comparable quarter.
<h3>Guidance for 2024</h3>
SCCO expects to produce 963,000 tons of copper, which projects a 6% increase from 2023. Molybdenum production is expected to be around 27,400 tons, 2% higher year over year. The company expects to produce 20.6 million ounces of silver, 12% higher than the prior year. Zinc output is expected at around 121,800 tons, which represents an 86% increase from the 2023 production level.
<h3>Price Performance</h3>
Shares of Southern Copper have gained 19% in the past year compared with the industry&#39;s 7.5% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d3/72893.jpg?v=2100476845" />
Image Source: Zacks Investment Research
<h3>Zacks Rank</h3>
Southern Copper currently carries a Zacks Rank #3 (Hold).
<h3>Peer Performances</h3>
Teck Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/teck#NYSE">TECK</a>) reported second-quarter 2024 adjusted earnings per share of 58 cents, which surpassed the Zacks Consensus Estimate of 47 cents by a margin of 23%. The bottom line marked a 37% plunge from earnings of 91 cents per share reported in the year-ago quarter.&nbsp;
Gains from increased copper sales from QB, elevated copper prices and higher steelmaking coal sales volumes were offset by lower steelmaking coal prices. Finance and depreciation and amortization expenses increased year over year, as Teck Resources has started taking the depreciation of QB assets into account and is no longer capitalizing interest on the project. The decline in earnings was also attributed to the reduced ownership in Elk Valley Resources, TECK&#39;s steelmaking coal business.&nbsp;
Freeport-McMoRan Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcx#NYSE">FCX</a>) reported adjusted EPS of 46 cents in the second quarter, which topped the Zacks Consensus Estimate of 39 cents. The bottom line was 31% higher than the year-ago quarter&#39;s EPS of 35 cents. Including one-time items, earnings were 42 cents per share, up around 83% from 23 cents in the year-ago quarter.
Revenues rose roughly 15% year over year to $6,624 million. The figure surpassed the Zacks Consensus Estimate of $5,985.9 million. The company witnessed higher copper and gold prices in the quarter, which helped offset the impact of lower sales volumes.
Vale S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vale#NYSE">VALE</a>) reported second-quarter adjusted EPS of 43 cents, which beat the Zacks Consensus Estimate of 38 cents. The bottom line marked a 115% surge from earnings of 20 cents per share reported in the year-ago quarter. The improvement in earnings was attributed to higher iron ore shipments, increased copper sales, as well improved copper and iron ore prices. However, this was somewhat offset by a decline in nickel sales volumes and prices.
Vale&#39;s net operating revenues were up 3% year over year to around $9.92 billion. The top line missed the Zacks Consensus Estimate of $9.97 billion.
<a href="https://www.zacks.com/stock/news/2312305/southern-copper-scco-q2-earnings-beat-on-high-prices-volumes?cid=CS-BENZ-FT-analyst_blog|earnings_article-2312305">To read this article on Zacks.com click here.</a>

Earnings Beats

Guidance

Southern Copper Q2 Earnings Beat on High Prices & Volumes

Shares of copper companies are trading lower amid possible uncertainty over China's supply and demand and a drop in the price of copper.

So long as inflation is running hot or, in this case, warm, the basic materials sector are a smart move, like a hedge and profit play rolled into one.

Why Basic Materials Are The Smart Move Right Now

Asian iron ore futures jump on China stimulus optimism

Commodity Roundup: Oil snaps 4-day losing streak, copper falls as China briefing disappoints

Commodity Roundup: Oil fighting to snap 4-day losing streak, copper falls

Prices for precious and industrial metals are increasing thanks to shifting global demand and central bank policies. In light of this, I have evaluated quality metals and mining stocks, BHP Group Ltd. (BHP), Rio Tinto (RIO), and Southern Copper Corp. (SCCO), that could help protect your portfolios from inflation. The mining industry is one of the most promising sectors for investors looking to capture high returns. Recently, prices for both precious and industrial metals have <a href="https://www.euronews.com/business/2024/09/27/metal-prices-soar-as-fed-and-chinas-stimulus-ignites-market-activity#:~:text=Demand%20outpaces%20supply%20in%20industrial%20metals&amp;text=The%20global%20industrial%20shift%20towards,due%20to%20concerns%20over%20undersupply.">surged</a> thanks to favorable policies from major central banks like the Federal Reserve and the People's Bank of China.
In this article, we'll explore three of the fundamentally sound metals and mining stocks, namely BHP Group Limited (<a href="https://stocknews.com/stock/BHP/">BHP</a>), Rio Tinto Group (<a href="https://stocknews.com/stock/RIO/">RIO</a>), and Southern Copper Corporation (<a href="https://stocknews.com/stock/SCCO/">SCCO</a>), that you might consider to hedge against inflation.
When the Fed cuts interest rates, gold and silver become more attractive assets. Lower rates reduce the opportunity cost of holding these precious metals, prompting investors to flock toward them as safe havens.
Meanwhile, a significant shift toward renewable energy, electric vehicles, and the burgeoning AI sector is boosting the demand for industrial metals like copper and silver. Both recently hit all-time highs due to supply concerns and China's commitment to infrastructure investment.
According to BHP, global copper consumption is expected to increase by an average of <a href="https://www.reuters.com/markets/commodities/bhp-expects-copper-demand-grow-by-1-mln-metric-tons-year-until-2035-2024-09-30/">1 million metric tons</a> annually until 2035, thanks to the rise of copper-intensive technologies. Looking ahead to 2050, global copper demand could soar by 70% to reach 50 million tonnes per year, primarily driven by its essential role in decarbonization and emerging technologies.
The mining market grew from $2.14 trillion in 2023 to $2.28 trillion in 2024, exhibiting a CAGR of 6.5%. Further, the market is expected to <a href="https://www.thebusinessresearchcompany.com/report/mining-global-market-report">reach $2.83 trillion by 2028</a>, growing at a CAGR of 5.5%.
Given this backdrop, let's evaluate the three <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> picks, beginning with the third choice.
Stock #3: Southern Copper Corporation (<a href="https://stocknews.com/stock/SCCO/">SCCO</a>)
SCCO is an integrated producer of copper and valuable by-products. It operates the mining, exploring, smelting, and refining facilities in Peru, Mexico, Argentina, Chile, and Ecuador. Its operating segments include Peruvian operations; Mexican open-pit operations; and Mexican underground mining operations.
On August 26, backed by its strong financials, the company paid its shareholders a quarterly dividend of $0.60 per share and a stock dividend of 0.0056 shares per share of common stock. SCCO pays an annual dividend of $2.37, which translates to a yield of 2.13% at the prevailing price levels. Its four-year average dividend yield is 4.52%. The company's dividend payments have grown at a CAGR of 8.5% over the past five years.
The stock's trailing-12-month gross profit margin of 55.83% is 95.9% higher than the industry average of 28.49%. In addition, its trailing-12-month net income margin and ROTA of 26.15% and 15.47% are considerably above the industry averages of 5.02% and 2.34%, respectively.
SCCO's sales for the second quarter (ended June 30, 2024) increased 35.5% year-over-year to $3.12 billion. The company reported an operating income of $1.61 billion, indicating a 78.5% growth from the prior year quarter. SCCO's <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> came in at $1.80 billion, up 61.1% year-over-year, while its net income per share grew 73.2% from the prior-year quarter to $1.23.
The consensus revenue estimate of $2.94 billion for the fiscal third quarter (ended September 2024) represents a 17.4% increase year-over-year. The consensus EPS estimate of $1.11 for the to-be-reported quarter indicates a 40.5% improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus EPS and revenue estimates in three of the trailing four quarters.
SCCO shares have surged 55.6% over the past year and 33.4% year-to-date to close the last trading session at $111.99.
SCCO's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It has an A grade for Quality and a B for Stability and Sentiment. Among 29 stocks in the <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> industry, it is ranked #5. <a href="https://stocknews.com/stock/SCCO/">Click here</a> to see SCCO's ratings for Growth, Value, and Momentum.
Stock #2: BHP Group Limited (<a href="https://stocknews.com/stock/BHP/">BHP</a>)
Headquartered in Melbourne, Australia, BHP operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. It operates through Petroleum; Copper; Iron Ore; and Coal segments.
On July 30, BHP and Lundin Mining Corporation agreed to jointly acquire Filo Corp. and its Filo del Sol copper project through a Canadian plan of arrangement. As part of the deal, both companies will form a 50/50 joint venture to manage the FDS and Josemaria projects in Argentina and Chile. BHP will contribute $2.1 billion to the transaction, which aligns with its strategy of acquiring early-stage copper assets and forming strategic partnerships for long-term growth.
BHP had a strong start to FY 2025, with production rising across all major commodities. In its recent <a href="https://www.bhp.com/-/media/documents/media/reports-and-presentations/2024/241017_bhpoperationalreviewforthequarterended30september2024.pdf">operational report</a> for the quarter that ended on September 30, 2024, the company posted a 4% year-over-year increase in copper production to 476.3 kt, driven by improved feed grades at Escondida. Iron ore production at WAIO grew 2%, aided by the completion of the Port Debottlenecking Project and South Flank ramp-up, while energy coal production rose 2% to 3.7 Mt.
For the fiscal year ended June 30, 2024, BHP's revenues increased 3.5% year-over-year to $55.70 billion. Its underlying attributable profit grew 2.2% from the year-ago value to $13.70 billion, while its underlying EBITDA came in at $29 billion, up 3.6% year-over-year, with a margin of 54%. Also, the company's free cash flow increased to $11.90 billion from $5.60 billion recorded last year.
Analysts expect BHP's EPS for the current year (ending June 2025) to be $4.81 and grow by 7.9% year-over-year to $5.20 next year. Meanwhile, its revenue for the fiscal years 2024 and 2025 is forecasted to reach $52.02 billion and $51.13 billion, respectively.
The stock has gained 6.9% over the past month to close the last trading session at $56.89.
BHP's strong fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
It has an A grade for Quality and a B for Value and Stability. Within the same industry, it is ranked #3. <a href="https://stocknews.com/stock/BHP/">Click here</a> to see the other BHP ratings for Growth, Momentum, and Sentiment.
Stock #1: Rio Tinto Group (<a href="https://stocknews.com/stock/RIO/">RIO</a>)
London-based mining and metals company RIO is involved in the global exploration and production of materials through four segments: Iron Ore; Aluminum; Copper; and Minerals. Its business also includes diamond mining, sorting and marketing, and lithium exploration.
On October 9, the company agreed to acquire Arcadium Lithium for $6.7 billion, a deal that will catapult it to become the world's third-largest miner of the metal used in electric vehicle batteries. Already a leader in iron ore, RIO is expanding its focus on processing high-end, low-carbon materials essential for the energy transition.
The company would gain access to lithium mines and processing facilities across Argentina, Australia, Canada, and the U.S. through the acquisition, fueling future growth.
On August 15, RIO partnered with the Queensland Government to strengthen the heavy industrial manufacturing base around Gladstone and boost renewable energy investments. The partnership secures the future of Boyne Smelters Limited, Australia's second-largest aluminum smelter, ensuring sustainability and long-term growth for RIO's operations.
For six months of fiscal 2024 that ended on June 30, 2024, RIO reported consolidated sales revenue of $26.80 billion, indicating a marginal year-over-year increase. The company's operating profit for the same period rose 14% from the year-ago value to $8.26 billion. In addition, profit after tax for the period and EPS came in at $5.89 billion and $3.56, up 19.1% and 13.3% year-over-year, respectively.
Street expects RIO's EPS and revenue for the fiscal year ending in December 2024 to be $7.04 and $52.82 billion, respectively. Over the past month, the stock has gained 4.1%, closing the last trading session at $65.09.
It's no surprise that RIO has an overall rating of A, equating to a Strong Buy in our POWR Ratings system. It has a B grade for Value, Stability, and Quality. Out of 29 stocks in the Industrial – Metals industry, RIO is ranked first.
Beyond what is stated above, we've also rated RIO for Growth, Momentum, and Sentiment. Get all RIO ratings <a href="https://stocknews.com/stock/RIO/">here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
BHP shares were trading at $57.14 per share on Friday afternoon, up $0.25 (+0.44%). Year-to-date, BHP has declined -11.86%, versus a 24.17% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/bhp-rio-scco-3-metals-mining-stocks-to-buy-for-inflation-protection/>3 Metals & Mining Stocks to Buy for Inflation Protection</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Metals & Mining Stocks to Buy for Inflation Protection

The industrial sector is set for growth due to reshoring, technological advancements, and increasing demand for sustainable and infrastructure-related projects. Hence, investors might consider investing in Southern Copper (SCCO), Illinois Tool Works (ITW), and Cummins (CMI), which are set to benefit from reshoring trends. Read more… Reshoring has a profound impact on local economies, driving growth and revitalizing communities that have been affected by deindustrialization. By bringing manufacturing back to the United States, companies are not just cutting costs but also contributing to broader economic objectives.
Given this backdrop, it could be wise to consider fundamentally strong U.S.-based industrial stocks, Southern Copper Corporation (<a href="https://stocknews.com/stock/SCCO/">SCCO</a>), Illinois Tool Works Inc. (<a href="https://stocknews.com/stock/ITW/">ITW</a>), and Cummins Inc. (<a href="https://stocknews.com/stock/CMI/">CMI</a>), that will benefit from reshoring trends.
The trend of bringing manufacturing back to the United States is boosting key industrial sectors by <a href="https://manufacturing-today.com/news/why-the-reshoring-renaissance-is-the-future-of-u-s-manufacturing/">creating jobs, improving supply chain reliability</a>, and fostering innovation through advanced technologies like automation. It also enhances cost control, national security, and sustainability efforts while reducing dependency on foreign production.
Government incentives further drive growth. The global industrial machinery market is projected to grow at a <a href="https://www.acumenresearchandconsulting.com/industrial-machinery-market">CAGR of 5.3%</a> by 2032. Moreover, U.S. <a href="https://www.federalreserve.gov/releases/g17/current/default.htm">industrial production rose 0.8% in August</a>. Manufacturing output posted a similar gain of 0.9% after declining in the previous month.
Given these favorable industry trends, let's look at the fundamentals of the top 3 industrial stocks.
Southern Copper Corporation (<a href="https://stocknews.com/stock/SCCO/">SCCO</a>)
SCCO is an integrated producer of copper and valuable by-products. It operates the mining, exploring, smelting, and refining facilities in Peru, Mexico, Argentina, Chile, and Ecuador. Its operating segments include Peruvian operations; Mexican open-pit operations; and Mexican underground mining operations.
The stock's trailing-12-month EBITDA margin of 52.99% is 220% higher than the industry average of 16.56%. Similarly, its 26.15% trailing-12-month net income margin is 422.32% above the industry average of 5.01%. Also, its trailing-12-month ROTA of 15.47% compares favorably to the industry average of 2.36%.
SCCO's sales for the second quarter (ended June 30, 2024) increased 35.5% year-over-year to $3.12 billion. The company reported an operating income of $1.61 billion, indicating a 78.5% growth from the prior year's quarter. SCCO's adjusted EBITDA came in at $1.80 billion, up 61.1% year-over-year, while its net income per share grew 73.2% from the prior-year quarter to $1.23.
The consensus revenue estimate of $2.98 billion for the fiscal third quarter (ending September 2024) represents a 19% increase year-over-year. The consensus EPS estimate of $1.16 for the current quarter indicates a 47% improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus EPS and revenue estimates in three of the trailing four quarters.
Over the past year, the stock has gained 51.3% to close the last trading session at $111.60.
SCCO's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
SCCO has an A grade for Quality and a B for Stability. The stock is ranked #8 out of 28 stocks in the <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> industry.
To see the other ratings of SCCO for Sentiment, Value, Growth, and Momentum, <a href="https://stocknews.com/stock/SCCO/">click here</a>.
Illinois Tool Works Inc. (<a href="https://stocknews.com/stock/ITW/">ITW</a>)
ITW manufactures and sells industrial products and equipment internationally. The company operates through seven segments: Automotive OEM; Food Equipment; Test &amp; Measurement and Electronics; Welding; Polymers &amp; Fluids; Construction Products; and Specialty Products.
The stock's trailing-12-month EBITDA margin of 29.12% is 108.3% higher than the industry average of 13.98%. Similarly, its 19.15% trailing-12-month net income margin is 215.2% above the industry average of 6.08%.
ITW reported operating revenue of $4.03 billion for the second quarter that ended June 30, 2024. Its operating income grew 4% from the year-ago value to $1.05 billion. The company's <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> came in at $759 million and $2.54 per share, up marginally and 2.4% from the prior year's quarter, respectively.
Street expects ITW's revenue and EPS for the fiscal fourth quarter (ending December 2024) to increase marginally and 5.1% year-over-year to $4.03 billion and $2.54, respectively. Moreover, it beat the EPS estimates in each of the trailing four quarters, which is promising.
Shares of ITW have gained 4.9% over the past month and 10.6% over the past year to close the last trading session at $256.83.
ITW's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
ITW has an A grade for Stability and a B for Quality. It is ranked #26 out of 78 stocks in the <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry.
In addition to the POWR Ratings we've stated above, we also have ITW ratings for Growth, Value, Sentiment, and Momentum. Get all ITW ratings <a href="https://stocknews.com/stock/ITW/">here</a>.
Cummins Inc. (<a href="https://stocknews.com/stock/CMI/">CMI</a>)
CMI designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine; Distribution; Components; Power Systems; and Accelera.
The stock's trailing-12-month levered FCF margin of 8.08% is 24.8% higher than the industry average of 6.48%. Similarly, its 11.10% trailing-12-month ROTC is 53.9% above the industry average of 7.21%.
For the second quarter of 2024, which ended on June 30, CMI's net sales increased 1.5% year-over-year to $8.80 billion. Its operating income for the quarter amounted to $1.05 billion, representing an increase of 4.8% from the same period last year, while its net income stood at $726 million, up marginally year-over-year. Also, the company's earnings per common share grew 4.2% from the year-ago value to $5.26.
The consensus revenue estimate of $34.72 billion for the year (ending December 2025) represents a 3.3% increase year-over-year. The consensus EPS estimate of $21.88 for the same year indicates an 11% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Over the past nine months, the stock has surged 40.6%, closing the last trading session at $329.97.
CMI's POWR Ratings reflect its bright outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. 
CMI has a B grade for Stability, Quality, and Sentiment. It is ranked #13 out of 78 stocks in the Industrial - Machinery industry. <a href="https://stocknews.com/stock/CMI/">Click here</a> to see the additional ratings for CMI (Growth, Value, and Momentum).
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<hr />
SCCO shares were trading at $117.80 per share on Monday afternoon, down $0.15 (-0.13%). Year-to-date, SCCO has gained 39.09%, versus a 20.77% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/scco-itw-cmi-3-industrial-stocks-that-will-benefit-from-reshoring-trends/>3 Industrial Stocks That Will Benefit From Reshoring Trends</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Industrial Stocks That Will Benefit From Reshoring Trends

Copper stocks are a strong investment due to rising demand from the green energy transition, which is crucial for renewable technologies, electric vehicles, and increased infrastructure needs, driving price and consumption growth. Therefore, investors should consider investing in top copper stocks such as Vale (VALE), Southern Copper (SCCO), and Rio Tinto (RIO) for solid gains this year. Read more... Copper has been crucial to human civilization for millennia and remains essential for modern technology and energy systems. Rapid industrialization and urbanization have driven up demand, particularly in manufacturing and construction. However, mining disruptions and limited supply could cause price spikes. Experts predict rising consumption and higher prices as the global green energy transition accelerates.
Therefore, to capitalize on this trend, investing in strong copper stocks that benefit from the green energy transition, such as Vale S.A. (<a href="https://stocknews.com/stock/VALE/">VALE</a>), Southern Copper Corporation (<a href="https://stocknews.com/stock/SCCO/">SCCO</a>), and Rio Tinto Group (<a href="https://stocknews.com/stock/RIO/">RIO</a>), could yield substantial gains.
The transition to renewable energy and electric vehicles significantly boosts copper demand, essential for solar, wind, and EV technologies. Copper's lower greenhouse gas emissions compared to alternatives make it a favorable choice in an increasingly sustainability-focused world. As global living standards rise, the demand for copper-intensive products and infrastructure further enhances its market outlook.
Historically, Q4 has been the <a href="https://www.mining.com/copper-prices-to-hit-record-high-in-q4-2024-on-fed-cuts-and-china-stimulus-fastmarkets/">strongest period</a> for copper demand, with seasonal trends and speculative market positioning likely to drive prices higher. Favorable macroeconomic conditions, including expected rate cuts by the US Federal Reserve, further support the market. As a result, demand for copper is projected to grow at a <a href="https://www.fastmarkets.com/insights/copper-prices-in-2024-and-2025-a-global-overview-and-analysis/#:~:text=In%20Q4%202024%2C%20copper%20prices,)%2C%20positive%20seasonality%20(the%20fourth">CAGR of 2.6%</a> through 2034.
Notably, copper consumption in energy transition sectors is expected to rise significantly, with a CAGR of 10.7%, including 14.3% for the EV sector, 5.6% for solar power, and 9.3% for wind applications. Considering these conducive trends, let's analyze the fundamental aspects of the three <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> picks, beginning with the third choice.
Stock #3: Vale S.A. (<a href="https://stocknews.com/stock/VALE/">VALE</a>)
Headquartered in Rio De Janeiro, Brazil, VALE and its subsidiaries produce and sell iron ore, iron ore pellets, nickel, and copper in Brazil and internationally. The company operates through the Iron Solutions and Energy Transition Materials segments.
On October 18, 2024, VALE and Petrobras signed a Strategic Alliance Agreement to supply decarbonization-focused products, including co-processed diesel with renewable content, natural gas, and a low-sulphur bunker blend. The partnership aims to advance competitiveness and sustainability in Brazil, with industrial testing of Diesel R5 already underway.
On September 4, 2024, VALE and Midrex signed a Technical Cooperation Agreement to advance the use of iron ore briquettes in direct reduction plants, aiming to decarbonize steelmaking. Initial tests showed promising results, and the partners plan to explore a joint venture for briquette technology and facilities.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/g/gross_profit_margin.asp">gross profit margin</a>, VALE's 40.66% is 43% higher than the 28.44% industry average. Likewise, its 17.87% trailing-12-month levered FCF margin is 242.4% higher than the 5.22% industry average. Also, its 10.12% trailing-12-month Return on Total Assets is 337.3% higher than the 2.31% industry average.
VALE's net operating revenue for the fiscal second quarter ended June 30, 2024, rose 2.6% year-over-year to $9.92 billion. Its operating income grew 34.7% over the prior-year quarter to $3.88 billion. For the same period, the company's net income and EPS attributable to VALE's shareholders were $2.77 billion and $0.65, up 198.4% and 225% year-over-year, respectively.
Analysts expect VALE's EPS and revenue for the quarter ending March 31, 2025, to increase 11.4% and 1.8% year-over-year to $0.47 and $8.61 billion, respectively. Over the past month, VALE's stock has gained marginally to close the last trading session at $10.63.
VALE's promising outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has an A grade for Value and a B for Quality. Within the <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> industry, it is ranked #9 out of 29 stocks. To see VALE's ratings for Growth, Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/VALE/">click here</a>.
Stock #2: Southern Copper Corporation (<a href="https://stocknews.com/stock/SCCO/">SCCO</a>)
SCCO engages in mining, exploration, smelting, and refining of copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates, as well as the production of refined silver, gold, and other materials, and the mining and processing of zinc, copper, molybdenum, silver, gold, and lead.
In terms of the trailing-12-month levered FCF margin, SCCO's 21.95% is 320.6% higher than the 5.22% industry average. Similarly, its 52.99% trailing-12-month EBITDA margin is 219.3% higher than the industry average of 16.60%. Its 45.01% trailing-12-month EBIT margin is 312.2% higher than the industry average of 10.92%.
During the second quarter, which ended on June 30, 2024, SCCO's sales grew 35.5% year-over-year to $3.12 billion. The company reported an operating income of $1.61 billion, representing a 78.5% growth over the prior-year quarter, while its net income per share grew 73.2% to $1.23. Additionally, the company's adjusted EBITDA was $1.80 billion, up 61.1% year-over-year.
Street expects SCCO's EPS and revenue for the quarter ended September 30, 2024, to increase 40.5% and 17.4% year-over-year to $1.11 and $2.94 billion. It surpassed the Street EPS estimates in three of the trailing four quarters. Over the past year, SCCO's stock has gained 61.3% to close the last trading session at $112.90.
SCCO's POWR Ratings reflect its bright outlook. It has an overall rating of B, translating to a Buy in our proprietary rating system.
It has an A grade for Quality and a B for Stability and Sentiment. It is ranked #5 in the same industry. To see SCCO's Growth, Value, and Momentum ratings, <a href="https://stocknews.com/stock/SCCO/">click here</a>.
Stock #1: Rio Tinto Group (<a href="https://stocknews.com/stock/RIO/">RIO</a>)
Headquartered in London, United Kingdom, RIO engages in exploring, mining, and processing mineral resources worldwide. The company operates through the Iron Ore, Aluminium, Copper, and Minerals segments.
On October 9, 2024, RIO announced its acquisition of Arcadium Lithium for $5.85 per share, valuing the company at approximately $6.70 billion. This strategic move aims to create a world-class lithium business, leveraging RIO's scale and financial strength to enhance growth in the high-demand lithium market.
In terms of the trailing-12-month Return on Common Equity, RIO's 20.11% is 247.8% higher than the 5.78% industry average. Its 12.73% trailing-12-month levered FCF margin is 143.9% higher than the 5.22% industry average. In addition, its 13.25% trailing-12-month Return on Total Capital is 168.5% higher than the 4.93% industry average.
For the six months ended June 30, 2024, RIO's consolidated sales revenue increased marginally year-over-year to $26.80 billion. The company's operating profit rose 14% from the prior-year value to $8.26 billion. In addition, profit after tax and EPS for the period stood at $5.89 billion and $3.56, up 19.1% and 13.3% year-over-year, respectively.
Over the past year, RIO's stock has gained 4.7% to close the last trading session at $65.36.
RIO's POWR Ratings reflect solid fundamentals. It has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It is ranked first in the Industrial – Metals industry. It has a B grade for Value, Stability, and Quality. <a href="https://stocknews.com/stock/RIO/">Click here</a> to access additional ratings for RIO's Growth, Momentum, and Sentiment ratings.
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<hr />
RIO shares fell $0.01 (-0.02%) in after-hours trading Monday. Year-to-date, RIO has declined -6.54%, versus a 23.95% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/rio-scco-vale-3-copper-stocks-poised-to-benefit-from-the-green-energy/>3 Copper Stocks Poised to Benefit From the Green Energy Transition</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Copper Stocks Poised to Benefit From the Green Energy Transition

Analysts have been eager to weigh in on the Materials sector with new ratings on Southern Copper (SCCO – Research Report), Mosaic Co (MOS – Researc...

Analysts Conflicted on These Materials Names: Southern Copper (SCCO), Mosaic Co (MOS) and Nucor (NUE)

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