Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017.
Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Stock volatility in the past few years has pummeled entire investment portfolios in the past few years. It remains to be seen how these companies weather the bear tailwinds in the coming months. In February, the firm hiked the quarterly dividend payment by a whopping 38%. The company beat market expectations on earnings per share for the fourth quarter of 2020 even as gold production fell because of rising prices. In April, the firm was named among the highest convictions picks for the second quarter by Bank of America. Newmont Corporation (NYSE: NEM), the largest gold mining firm in the world, has also benefited from the copper business over the past few months. (NYSE: FCX) CEO Richard Adkerson announced that the firm was seeking to approve expansions at US-based copper mines to keep up with the surging demand, especially as copper was a central product for the new climate projects of the US government. (NYSE: FCX ), Rio Tinto Group (NYSE: RIO ), and Newmont Corporation (NYSE: NEM ). Some of the companies that are at the forefront of copper production and could cash in on the expected boom for the metal in the long-term include Freeport-McMoRan Inc.
Lately, as the demand for electric vehicles rises, copper is rapidly being consumed as it offers durability, high conductivity and efficiency, and is used in EV vehicles, charging stations, and other EV-related products. It is also used in consumer ware and interior components of housing. Copper is used in many electrical products like wires, motors, mobile devices, and others. These developments have hit the copper industry that was on a bull run following the rise in demand for the metal as the economy reopened following the pandemic lockdowns. In a double blow to the industry, China has announced that it will release the metal from national reserves in a bid to control commodity prices. However, the copper industry has been hit in recent weeks as the US prepares to lift interest rates, sending the price of the dollar surging and reducing the demand for the metal. According to a prediction by Bank of America, the price of copper could climb to $20,000 per metric ton within the next three years. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Copper Stocks to Buy Now.Ĭopper is on track to become the new gold as the gap between supply and demand widens. In this article, we discuss the 10 best copper stocks to buy now.
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