mining
Glencore (LON: GLEN) share price has pulled back sharply this month as trades focus on the falling copper prices. The stock crashed to a low of 465p on Tuesday, down by more than over 8% from its highest point this year. Volatility in the commodities marketGlencore’s stock price has crashed hard as investors focus on the happenings in the commodities market. Copper has tumbled by over 12% from the highest point this year even as investors predict strong demand this year. In a note this week, analysts at Deutsche Bank said that copper will jump to $9,000 per ton in the long term. Glencore benef...
Invezz
Demand for copper in a diverse set of industries has been on the rise this year as the global economy continues to thrive. In fact, price of the industrial metal hit an all-time high on Tuesday. Here are the top three stocks that could benefit the most from record copper price. BHP Group Ltd (NYSE: BHP)BHP is fine pick to play continued demand and subsequently elevated price of copper as it operates one mine in Australia and several more in South America. The New York listed firm is worth owning also because it has a 45% stake in Resolution Copper – one of the largest undeveloped copper projec...
Invezz
Shares of Vedanta reached a 14-year peak of Rs 438.30, climbing 6% on the Bombay Stock Exchange during Tuesday’s intra-day trade, buoyed by heavy trading volumes. This significant uptick follows the company’s announcement that its board will convene on Thursday, May 16, to discuss a fundraising plan. Alongside these deliberations, the board is set to review the potential distribution of a first interim dividend on equity shares for the financial year 2024-25. Vedanta is currently trading at its highest level since May 2010, with the stock having appreciated by 75% over the past two months. Ved...
Invezz
Rio Tinto Ltd (ASX: RIO) should not compete with BHP Group Ltd (ASX: BHP) to take over Anglo American plc (LON: AAL), says Daniel Sullivan. He’s a portfolio manager at Janus Henderson Investors. Why shouldn’t $RIO target Anglo American?$AAL has already rejected BHP’s $39 billion takeover proposal citing undervaluation as Invezz reported here. On Friday, the Australian Financial Review said Rio Tinto had considered making an offer to the mining company based out of London, United Kingdom as well. But $RIO lacks capacity to go up against the world’s largest mining firm by market cap in a bid to ...
Invezz
Riot Platforms Inc (NASDAQ: RIOT) is in the green at writing after reporting a surprise profit for its first financial quarter. Riot comes in shy of revenue estimates in Q1Revenue printed at $79.3 million in Q1 – versus $95.5 million that experts had forecast, as per the press release the bitcoin miner posted on Wednesday. On the plus side, however, analysts had called for a 21 cents loss on a per-share basis while Riot Platforms came in at a record 82 cents per share of earnings. According to Jason Les – its chief executive: [Riot] achieved a number of significant milestones [in Q1] which fur...
Invezz
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