Metal and Mining Stocks Catch A Bid Friday, August 27, 2:38 PM ET, by Market News Video Staff In Friday afternoon trading, the SPDR S&P Metals and Mining ETF (XME) is trading higher ...
Southern Copper, Freeport-McMoRan, Copper ETFs Benefit From Rise in Copper Prices
By ETF Channel Staff, Thursday, October 7, 11:00 AM ET
Shares of copper companies have performed strongly during the last few months due to solid fundamentals and a weak dollar.
Copper closed yesterday at a 26 year high, and the metal is up 11% so far this year. Many believe there is room for the price to go higher, due to underperforming mines, fewer new mines, high demand from China, and labor disputes.
Several companies in the sector have seen solid gains in their stock prices during the last few months. Southern Copper (NYSE:SCCO) has a trailing twelve month gross margin of 56.24% and quarterly earnings are higher by 79.1% year over year. Also, the trailing twelve month gross margin at Freeport-McMoRan Copper & Gold (NYSE:FCX) is 55.26%, while the company's ROE over the last twelve months is 40.53%.
Investors wanting to benefit from the potential rise in copper but unwilling to pick individual companies to invest in may want to look into the First Trust ISE Global Copper ETF (CU), Global X Copper Miners ETF (AMEX:COPX), and iPath DJ-UBS Copper (AMEX:JJC).
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