iShares U.S. Basic Materials ETF (ARCA: IYM)

最新ニュース iShares U.S. Basic Materials ETF (ARCA:IYM)

iShares U.S. Basic Materials ETF

Basic Materials

Industrials

The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of the basic materials sector of the U.S. equity market. The fund is non-diversified.

New Linde Plc

Freeport-McMoran Copper & Gold Inc

Air Products & Chemicals Inc.

Ecolab, Inc.

Newmont Corp.

Fastenal Co.

Nucor Corp.

Lyondellbasell Industries Nv Class A

International Flavors & Fragrances Inc.

Steel Dynamics Inc

International Paper Co.

iShares US Basic Materials ETF

The U.S. and Ukraine have officially signed an agreement granting the U.S. access to Ukraine's mineral resources. Two parties inked the deal two months after a heated meeting at the White House between two presidents, Donald Trump and Volodymyr Zelensky, abruptly <a target="_blank" href="https://www.benzinga.com/news/global/25/02/44053592/white-house-meeting-turns-tense-as-trump-warns-zelenskyy-youre-gambling-with-world-war-iii" rel="noreferrer noopener">ended the negotiations</a>.
"Thanks to President Trump's tireless efforts to secure a lasting peace, I am glad to announce the signing of today's historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund," said U.S. Secretary of the Treasury Scott Bessent, <a target="_blank" href="https://x.com/KobeissiLetter/status/1917700867353923761" rel="noreferrer noopener">per</a> The Kobeissi Letter.
"Together with the United States, we are creating the Fund that will attract global investment into our country," Ukrainian First Vice Prime Minister Yulia Svyrydenko <a target="_blank" href="https://x.com/Svyrydenko_Y" rel="noreferrer noopener">wrote</a> on X.
Under the agreement, the U.S. will have priority access to new investment projects involving Ukrainian critical minerals. Kyiv and Washington will establish an investment fund, through which profits will be funneled, aiming to support Ukraine's recovery and offset future U.S. military assistance.
Trump initially demanded $500 billion worth of mineral wealth as repayment for U.S. military aid, but Ukraine pushed back, <a target="_blank" href="https://www.benzinga.com/25/02/43968607/trump-negotiates-a-very-big-deal-for-ukraines-mineral-wealth" rel="noreferrer noopener">seeking security guarantees</a> in return. Reuters <a target="_blank" href="https://www.reuters.com/world/kyiv-is-ready-sign-resources-deal-with-us-ukraine-government-source-says-2025-04-30/" rel="noreferrer noopener">confirmed</a> that the signed deal does not require Ukraine to repay past military aid and doesn't contain any concrete U.S. security guarantees.
Ukraine holds substantial reserves of rare earth elements essential for the technology, defense, and clean energy industries. It is the sixth-largest global producer of Titanium, although production has been on a decline since 2012.
Still, nearly half of mineral deposits are concentrated in Luhansk, Donetsk, Zaporizhzhia, Dnipropetrovsk, Kirovohrad, Poltava, and Kharkiv—territories that are partly under Russian control, complicating extraction efforts.
Marko Papic, Chief Strategist at BCA Research, <a target="_blank" href="https://www.benzinga.com/news/global/25/02/44057033/this-is-something-that-president-trump-does-over-and-over-again-geopolitical-strategist-says-about-failed-rare-minerals-deal-with-ukraine-president-zelenskyy" rel="noreferrer noopener">warned</a> that resource extraction is just one part of the equation.
"Even if you somehow manage to get the rare earths out, the question would be—where do you refine them? The fact is that most of them would have to go to China. That's the critical bottleneck in this whole situation."
This deal is a good example of Trump's transactional approach to foreign policy and leveraging economic incentives to build domestic support.
"This is something President Trump does over and over again," Papic noted. "The theater surrounding his deals, the back-and-forth, is designed to build domestic consensus, particularly among his voters."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/25/04/45124644/trump-blames-gdp-contraction-on-biden-overhang-nothing-to-do-with-the-tariffs" target="_blank" rel="noreferrer noopener">Trump Blames GDP Contraction On Biden ‘Overhang': ‘Nothing To Do With The Tariffs'</a></li>
</ul>
Photo by Dmytro Larin via Shutterstock

Government

News

Commodities

Politics

Media

iShares Trust Dow Jones US Basic Materials Sector Index Fund

PowerShares Dynamic Basic Materials Sector Portfolio

Market Vectors Rare Earth/Strategic Metals Etf

REMX

SLVP

US And Ukraine Sign Mineral Resource Deal

Ecolab Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) shares are trading higher after the company reported&nbsp;a first-quarter&nbsp;sales decline of&nbsp;2%&nbsp;year-on-year (Y/Y) to&nbsp;$3.69 billion,&nbsp;missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/b45064296/ecolab-delivers-continued-double-digit-eps-growth-reported-diluted-eps-1-41-adjusted-diluted-eps-1" rel="noreferrer noopener">consensus estimate of&nbsp;$3.70 billion</a>.
Organic sales grew&nbsp;3% Y/Y, led by growth in the Institutional &amp; Specialty, Pest Elimination, and Life Sciences segments.
Effective the first quarter, Ecolab reorganized its segment reporting: Global Industrial is now Global Water (including the former Water, Food &amp; Beverage, and Paper segments); Global Institutional &amp; Specialty remains unchanged (with Healthcare moving in); Global Life Sciences became a standalone segment; and Global Pest Elimination remains a standalone segment.
In fixed currency, Global Water sales grew&nbsp;3% Y/Y&nbsp;to&nbsp;$1.80 billion, Global Institutional &amp; Specialty fell 3% Y/Y to&nbsp;$1.41 billion, Global Life Sciences upped 5% Y/Y&nbsp;to&nbsp;$167.0 million&nbsp;and, Global Pest Elimination increased&nbsp;7% Y/Y&nbsp;to&nbsp;$278.1 million.
Adjusted operating income increased&nbsp;8%&nbsp;Y/Y to&nbsp;$589.6 million, with an adjusted operating margin of&nbsp;15.9% vs.&nbsp;14.3% a year ago.
Organic operating margin expanded 190 bps Y/Y to 16.0%, on improved value pricing and productivity.
Adjusted EPS of&nbsp;$1.50 (+12%&nbsp;Y/Y)&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">in line with the consensus estimate</a>.
The company held&nbsp;$1.16 billion&nbsp;in cash and equivalents as of March 31, 2025.
Outlook: Ecolab expects&nbsp;second-quarter&nbsp;adjusted EPS of&nbsp;$1.84-$1.94 (+10% to 15% Y/Y), vs. the&nbsp;$1.91 estimate.
The company reiterated 2025 adjusted EPS at $7.42&nbsp;–&nbsp;$7.62 (+12% to 15%),&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">compared to the&nbsp;$7.49&nbsp;estimate</a>.
The company repurchased around 0.6 million shares during the quarter.
Christophe Beck, Ecolab's chairman and chief executive officer, said, &#8221;We expect to deliver continued 12-15% earnings growth this year, even as we face a very unpredictable operating environment with soft end market demand and rapidly changing international trade policy. We are making proactive and strategically consistent adjustments to our delivery path due to these external conditions.&#8221;
&#8221;We look to continue to outperform our end markets as we work to convert our strong new business wins, which all leverage our One Ecolab growth initiative and our record innovation pipeline.&#8221;
&#8221;To overcome the impact from tariffs, we are leveraging the strength of Ecolab&#8217;s world-class supply chain, our ‘local for local&#8217; production model, and our recently announced trade surcharge.&#8221;
Investors can gain exposure to the stock via&nbsp;VanEck Environmental Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVX#NYSE">EVX</a>) and&nbsp;iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>).
Price Action: ECL shares are up 2.3% at $244.51 at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/commodities/25/04/44651693/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a></li>
</ul>
Photo: Shutterstock

Earnings

Equities

Large Cap

Guidance

Movers

Market Vectors Environmental Services Index Fund

Ecolab Navigates Soft Demand, Tariffs With Margin Gains, Confirms Full-Year Forecast

U.S. Interior Secretary Doug Burgum called for increased activity in the commodity sector, urging industry leaders to seize opportunities on public lands. At the CERAWeek energy conference in Houston on Wednesday, Burgum noted the need for <a target="_blank" href="https://www.benzinga.com/markets/commodities" rel="noreferrer noopener">higher domestic production</a> and reduced dependence on foreign supply chains.
"If we're going to drill, baby, drill, then we've got to be asked to also mine, baby, mine," Burgum told the audience, according <a target="_blank" href="https://www.reuters.com/world/us/ceraweek-us-can-slash-20-30-regulation-boost-energy-interior-secretary-says-2025-03-12/" rel="noreferrer noopener">to</a> Reuters.
President Donald Trump's administration has actively pursued policies to bolster domestic supply chains, including a yet-to-be-signed <a target="_blank" href="https://www.benzinga.com/news/global/25/02/44057033/this-is-something-that-president-trump-does-over-and-over-again-geopolitical-strategist-says-about-failed-rare-minerals-deal-with-ukraine-president-zelenskyy" rel="noreferrer noopener">agreement with Ukraine</a> for mineral resource cooperation. Additionally, Trump has proposed building critical mineral refining facilities on Pentagon-controlled military bases.
Burgum, a former governor of North Dakota, the third-largest oil-producing state, noted opportunities to generate government revenue. According to his estimates, the current administration could unwind 20% to 30% of existing production regulations, significantly lowering the cost of commodity extraction.
The Interior Secretary stressed the importance of strengthening critical minerals production, citing growing concerns about China's dominance in the sector.
"We put ourselves in a position of incredible risk, where we've allowed ourselves to have a major competitor control 80% of the processing for critical minerals," Burgum said.
He proposed leveraging the planned U.S. sovereign wealth fund and strengthening collaboration with allied nations to secure a stable supply of key minerals like lithium and nickel to counter this situation.
According to <a target="_blank" href="https://www.benzinga.com/news/24/07/39870803/us-mine-development-delays-among-worlds-longest-second-only-to-zambia" rel="noreferrer noopener">last year's study</a>, the U.S. must find ways to cut the red tape on its mineral production. Its permitting process is the second-slowest in the world, taking as much as 29 years from discovery to production.
Still, there is a delicate balance between deregulation and environmental destruction. The Biden administration blocked one of the largest domestic projects, the Pebble Mine project in Alaska, citing environmental risks to the Bristol Bay watershed.
In response to Burgum's remarks, the National Parks Conservation Association <a target="_blank" href="https://act.npca.org/page/79022/action/1" rel="noreferrer noopener">opposed</a> increased drilling and mining near national monuments like Bears Ears and Grand Staircase-Escalante.
"If we lose these places to oil and gas development, we forfeit a century-old legacy that we will not pass on to our grandchildren," the association warned last month.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44271394/goldman-sees-copper-imports-frontrunning-tariffs-as-fcx-positions-to-benefit" target="_blank" rel="noreferrer noopener">Goldman Sachs Sees Copper Imports Frontrunning Tariffs As FCX Positions To Benefit</a></li>
</ul>
Photo via Shutterstock

Regulations

Markets

Interior Secretary Calls For 'Mine, Baby, Mine,' Promising Cost Savings From Deregulation

When President Trump announced a 50% tariff on Canadian aluminum and steel imports, it created a cloud of fear and <a href="https://www.benzinga.com/markets/equities/25/03/44269301/trumps-25-tariffs-on-steel-and-aluminum-imports-take-effect-eu-retaliates-us-steel-nucor-century-aluminum-and-other-domestic-stocks-cheer">uncertainty in the markets</a>. 
Stocks dropped as the 25% previously announced tariffs set to be implemented on Wednesday were anticipated to be doubled.
Trump later hinted at reconsideration after Ontario's premier suspended a surcharge on electricity exports. While domestic producers may benefit, higher costs could dent the profits of industries that rely heavily on these materials.
Also Read: <a href="https://www.benzinga.com/news/25/03/44253100/trump-slaps-50-tariff-on-canadian-steel-aluminum-threatens-auto-industry">Trump Slaps 50% Tariff On Canadian Steel &amp; Aluminum, Threatens Auto Industry</a>
This has presented a good opportunity to look into exchange-traded funds, <a href="https://www.benzinga.com/etfs">ETFs, that may gain or lose</a>:
<ul>
<li>VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>): The ETF gained 1.3% on Tuesday. Its U.S. exposure is at 53.78%, with Brazil and Australia following at 14.65% and 10.71%, respectively. SLX has the least exposure to Canada at less than 1%. The ETF carries an expense ratio of 56 basis points. Tariffs on materials imports from Canada bode well for domestic producers. SLX has exposure to United States Steel Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) and Steel Dynamics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>).</li>
</ul>
<ul>
<li>iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>): This fund appeals to investors seeking a conservative way to gain aluminum exposure. The ETF&#8217;s exposure is spread out to base metals stocks and other materials sectors like chemicals and forestry products. This makes it a less speculative investment. This reduces risks from an aluminum market downturn. The ETF holds stocks of aluminum leaders such as Alcoa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) and Reliance Steel &amp; Aluminum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>). Both stand to gain if the tariffs are implemented.</li>
</ul>
<ul>
<li>The Invesco Building &amp; Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKB#NYSE">PKB</a>): One of the outcomes of the 50% (or even 25%) tariffs on steel and aluminum imported from Canada is that it will drive up materials prices in the U.S. Higher steel prices may weigh on the construction sector. This fund could face profitability issues as steel is a key raw material in the industry it is exposed to.</li>
</ul>
<ul>
<li>The Invesco Food &amp; Beverage ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBJ#NYSE">PBJ</a>): This fund could see headwinds as higher aluminum costs may pressure the food and beverage bottling industry as well. Companies like Diageo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>), Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), and PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) likely to face increased costs.</li>
</ul>
<h2 class="wp-block-heading">U.S. Steel Industry Backs The Move</h2>
Despite the market jitters, U.S. steel manufacturers are largely in favor of the tariffs. In a <a href="https://www.steel.org/2025/03/five-steel-groups-pledge-support-for-steel-tariffs-applaud-actions/">letter </a>to the president, five steel industry executives, represented by American Iron and Steel Institute, expressed their strong support for the 25% tariffs. Moreover,&nbsp;Jesse Gary, the CEO of&nbsp;Century Aluminum&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) <a href="https://www.benzinga.com/markets/equities/25/03/44269301/trumps-25-tariffs-on-steel-and-aluminum-imports-take-effect-eu-retaliates-us-steel-nucor-century-aluminum-and-other-domestic-stocks-cheer">told the New York Times</a>, &#8220;The new tariffs will close those loopholes back up and enable us to begin investing again, and bring on more production here in the U.S.&#8221;
While steel producers in the U.S. are supportive, the aluminum industry has shown a mixed reaction. Alcoa CEO William Oplinger <a href="https://www.investopedia.com/alcoa-s-ceo-says-trump-tariffs-could-wipe-out-100-000-u-s-jobs-11686292">voiced </a>concerns that tariffs could hurt the U.S. aluminum sector due to the company's strong ties to Canadian operations.
The impact of tariffs will likely trickle down to consumers as well. Domestic steel prices have already surged from around $700 to nearly $1,000 per ton since Trump's initial announcement in February. A Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-03-11/trump-s-metal-tariffs-set-to-hit-favorites-like-baseball-bats-and-fishing-reels">report </a> said that higher costs could affect a range of products, from aluminum baseball bats to stainless steel cookware and fishing reels.
Investors should keep an eye on ETFs exposed to these sectors, as they may see significant movement in the coming weeks. Whether Trump follows through with the full 50% tariff or retreats from the threat, the ripple effects will be felt across multiple industries and investment tools.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/03/44285737/dailydelta-rolls-out-etfs-for-daily-nasdaq-100-index-movements">DailyDelta Rolls Out ETFs For Daily Nasdaq-100 Index Movements</a></li>
</ul>
Image: Midjourney

Sector ETFs

ETFs

CENX

PowerShares ETF Trust Dynamic Building &nstruction Portfolio

STLD

Steel & Aluminum Import Tariff Threat: 4 ETFs Gaining & Losing In The Market Shake-Up

President Donald Trump announced on Sunday that he will impose new 25% <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">tariffs</a> on all steel and aluminum imports, adding to existing duties, in a further escalation of his trade policy. While this could impact domestic steel and aluminum companies, investors can consider the following list of exchange-traded funds (ETFs) to trade following the development.
What Happened: On his way to the NFL Super Bowl in New Orleans, Trump spoke to reporters on Air Force One, and said he would reveal the <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">new tariffs</a> on Monday, followed by reciprocal tariffs on Tuesday or Wednesday, matching the rates imposed by other countries.
Tariffs impact domestic companies by influencing costs, competitiveness, and supply chains
According to a report by the First National Bank of Omaha and the think tank Council on Foreign Relations, the negative effects of tariffs include increased input costs, reduced competitiveness, disruption in supply chains, retaliation, diversion in investment, and reduced consumer spending. On the positive side, tariffs may temporarily protect domestic industries and generate government revenue.
Investors should look out for the following metal ETFs as Trump is likely to impose tariffs on imports.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Fund Name</td>
<td>AUM</td>
<td>Expense Ratio</td>
<td>Six Month Returns</td>
</tr>
<tr>
<td>VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>)</td>
<td>$75.23 million</td>
<td>0.56%</td>
<td>-4.88%</td>
</tr>
<tr>
<td>Invesco DB Base Metals Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBB#NYSE">DBB</a>)</td>
<td>$112.4 million</td>
<td>0.79%</td>
<td>2.39%</td>
</tr>
<tr>
<td>iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>)</td>
<td>$534.51 million</td>
<td>0.39%</td>
<td>-0.68%</td>
</tr>
<tr>
<td>SPDR S&amp;P Metals and Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>)</td>
<td>$1623.5 million</td>
<td>0.35%</td>
<td>5.00%</td>
</tr>
</tbody>
</table>
</figure>
Iron ore, a key ingredient in steelmaking, saw its prices rise 0.71% in Singapore around 3:43 p.m. local time, while aluminum futures on the Comex gained 0.49%.
See Also: <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">Trump To Announce 25% Steel And Aluminum Tariffs — Economist Warns President Is &#8216;Making US Manufacturing Globally Uncompetitive&#8217;</a> 
Why It Matters: Although Trump initially paused tariffs on Canada and Mexico, he has renewed threats by specifically targeting metals in his media interactions on Sunday.
According to the American Iron and Steel Institute&#8217;s January <a href="https://www.steel.org/2025/02/aisi-releases-january-sima-imports-data-4/">data</a>, the U.S. gets most of its imported steel from Canada, Brazil, and Mexico, followed by South Korea and Vietnam. 
&#8220;Canadian steel and aluminum support key industries in the U.S., from defence, shipbuilding, and auto,&#8221; said the Canadian Minister of Innovation, Science and Industry, Francois-Philippe Champagne, in an X post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let's all be clear. Canadian steel and aluminum support key industries in the U.S. from defence, shipbuilding and auto. This is making North America more competitive and secure. We will continue to stand up for Canada, our workers, and our industries. <a href="https://t.co/NBFeU6Y8zN">pic.twitter.com/NBFeU6Y8zN</a>
&mdash; François-Philippe Champagne (FPC) &#x1f1e8;&#x1f1e6; (@FP_Champagne) <a href="https://twitter.com/FP_Champagne/status/1888754195727106310?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote>
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</figure>
Citing the risks of these metal tariffs, Joseph Brusuelas, the principal and chief economist at RSM US said that other countries could follow to protect their economies, and a much larger trade war could ensue after these impositions by Trump.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">US-China Trade War: With Trump set to announce 25% tariffs on aluminum &amp; steel imports and the Chinese imposing $14 billion on trade taxes on U.S. good it is likely that a series of tit-for-tat retaliation has begun. A look at relative yield differentials between the US and… <a href="https://t.co/ACWRKgzlmg">pic.twitter.com/ACWRKgzlmg</a>
&mdash; Joseph Brusuelas (@joebrusuelas) <a href="https://twitter.com/joebrusuelas/status/1888728283392667924?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
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Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43521806/deepseeks-hedge-fund-owner-had-multiple-top-projects-before-creating-the-firm-that-fueled-1-trillion-market-cap-erosion-of-ai-stocks">DeepSeek&#8217;s Hedge Fund Owner Had Multiple Top Projects Before Creating The Firm That Fueled $1 Trillion Market Cap Erosion Of AI Stocks</a></li>
</ul>
Photo courtesy: Shutterstock

Economics

Donald Trump's Expected Tariffs On Aluminum, Steel Imports May Impact Domestic Companies: Here's A List Of Metal ETFs That Could Be Affected

Linde PLC&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIN#NASDAQ">LIN</a>) shares are trading lower after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/ac43522457/linde-reports-full-year-and-fourth-quarter-2024-results-earnings-release-tables-attached" rel="noreferrer noopener">reported&nbsp;fourth-quarter&nbsp;FY24 results</a>.
<ul>
<li>Sales rose&nbsp;5%&nbsp;Y/Y to&nbsp;$8.28&nbsp;billion, underlying sales up&nbsp;2%&nbsp;Y/Y, missing the consensus of&nbsp;$8.39 billion.&nbsp;</li>
<li>Americas sales rose&nbsp;1%&nbsp;Y/Y to&nbsp;$3.61&nbsp;billion, APAC (Asia Pacific) sales increased&nbsp;2%&nbsp;Y/Y to&nbsp;$1.67&nbsp;billion&nbsp;and, EMEA (Europe, Middle East &amp; Africa) sales was down&nbsp;2%&nbsp;Y/Y to&nbsp;$2.06&nbsp;billion&nbsp;in the quarter.</li>
<li>Linde Engineering sales stood at $628 million, down 5% Y/Y, in the quarter.</li>
<li>Adjusted operating profit increased&nbsp;9%&nbsp;Y/Y to&nbsp;$2.48&nbsp;billion, with margin expanding 250&nbsp;basis points Y/Y to&nbsp;29.9%, led by increased price and continued productivity initiatives across all segments.</li>
<li>Adjusted EPS was&nbsp;$3.97,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$3.93</a>.</li>
<li>As of FY24, Linde's total project backlog stood at&nbsp;$10.4 billion. The company returned&nbsp;$7.1&nbsp;billion&nbsp;to shareholders through dividends and share repurchases in the year.</li>
<li>Operating cash flow stood at&nbsp;$9.4&nbsp;billion, with capital expenditures of&nbsp;$4.5&nbsp;billion&nbsp;in the year.</li>
</ul>
Outlook: For the&nbsp;first-quarter&nbsp;of FY25, the company expects adjusted EPS of&nbsp;$3.85&nbsp;–&nbsp;$3.95&nbsp;(up&nbsp;7%-9%&nbsp;ex. FX),&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">vs. consensus of&nbsp;$4.02</a>.
Linde projects FY25 adjusted EPS of&nbsp;$16.15-$16.55&nbsp;(up 8%-11% Y/Y ex. FX) vs. street view of&nbsp;$16.83.
The company expects FY25 capital expenditures of $5 billion-$5.5 billion to support operating and growth requirements, which includes the contractual sale of gas backlog.
CEO Sanjiv Lamba praised the company&#8217;s 25.9% ROC, 29.5% operating margin and EPS growth of 10% excluding currency. 
&#8220;The results were delivered despite the challenging environment, reflecting the resiliency of our model and the exceptional execution by our employees,&#8221; Lamba said. 
Linde also signed its largest ever product supply agreement with a customer, supporting a $10 billion project backlog which Lamba expects will contribute to earnings growth &#8220;for years to come.&#8221;
Investors can gain exposure to the stock via iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) and Materials Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>).
Price Action: LIN shares are down 2.36% at $443 premarket at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42319010/aramco-linde-schlumberger-form-alliance-for-one-of-the-worlds-largest-ccs-hubs" target="_blank" rel="noreferrer noopener">Aramco, Linde, Schlumberger Form Alliance For Carbon Capture And Storage Hub</a></li>
</ul>
Image: Shutterstock

Linde Q4: Revenue Misses, EPS Tops, Shares Dip On Soft Guidance

Linde plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIN#NASDAQ">LIN</a>) shares are trading higher today. The company disclosed a long-term agreement to supply clean hydrogen to Dow Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/ac40571189/linde-signs-long-term-agreement-to-supply-clean-hydrogen-to-dows-path2zero-project-in-canada" rel="noreferrer noopener">Fort Saskatchewan Path2Zero Project</a>.
The company plans to invest over $2 billion to build, own, and operate an integrated clean hydrogen and atmospheric gases facility in Alberta, Canada.
When completed in 2028, the new complex in Alberta will be Canada&#8217;s largest clean hydrogen production facility and one of the largest worldwide.
In the first phase, Linde will supply clean hydrogen, nitrogen, and other services to support Dow&#8217;s net-zero emissions integrated ethylene cracker and derivatives site.
Sanjiv Lamba, Chief Executive Officer, Linde, said, &#8220;This landmark project aligns with our strategy of developing high-quality projects with secured off-take. Our technology, experience and execution are enabling the transition to a cleaner economy.&#8221;
Additionally, Linde&#8217;s facility will supply clean hydrogen to industrial customers aiming to decarbonize. The complex will capture over 2 million metric tons of carbon dioxide annually for sequestration.
This will be Linde&#8217;s biggest single investment and its second world-scale clean hydrogen project, following its announcement on the U.S. Gulf Coast blue ammonia project.
Jim Fitterling, Chair and Chief Executive Officer, Dow stated, &#8220;Our business strategy to decarbonize our assets and drive growth while enabling higher shareholder returns is central to Dow&#8217;s long-term success.&#8221;
Investors can gain exposure to LIN via&nbsp;IShares U.S. Basic Materials ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) and&nbsp;Materials Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>).
Price Action: LIN shares are up 0.60% at $471.29 at the last check Tuesday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/39954583" target="_blank" rel="noreferrer noopener">Chemicals Company Dow&#8217;s Q2 Earnings Disappoint Amid Challenging Market Conditions; Stock Slips</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Contracts

Linde Invests Over $2B For Clean Hydrogen, Inks Supply Deal With Dow: Details

Air Products and Chemicals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) shares are trading higher today. Aramco has agreed to acquire a 50% stake in its Blue Hydrogen Industrial Gases <a href="https://www.aramco.com/en/news-media/news/2024/aramco-to-acquire-50-stake-in-air-products-qudras-blue-hydrogen-industrial-gases-company" target="_blank" rel="noreferrer noopener">Company (BHIG)</a>.
In particular, Saudi Arabia&#8217;s largest oil company, Aramco, inked definitive deals to acquire a stake in BHIG, which is based in Jubail and a subsidiary of Air Products Qudra (APQ).
After the transaction, Aramco and APQ, a joint venture of Air Products and Qudra Energy, will each own 50% of BHIG.
The transaction is contingent on standard closing conditions and includes provisions for Aramco to secure hydrogen and nitrogen offtake options.
Aramco is expanding its lower-carbon hydrogen business and alternative energy portfolio through an investment in BHIG.
Dr. Samir J. Serhan, Air Products Qudra Chairman, commented, &#8220;It is an honor to further extend Air Products Qudra&#8217;s strong partnership with Aramco, working to accelerate the hydrogen economy and driving the creation of the largest hydrogen network in the Middle East, which is expected to serve the refining, chemical, and petrochemical industries.&#8221;
Ashraf Al Ghazzawi, Aramco Executive Vice President of Strategy &amp; Corporate Development, said, &#8220;We intend to leverage our growing capabilities in carbon capture and storage (CCS), as well as our technical expertise in hydrogen, with the ambition to support the establishment of a vibrant marketplace for lower-carbon hydrogen — helping lay the foundations of a future energy system.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39709835/honeywells-1-81b-power-play-acquires-air-products-lng-tech-to-lead-energy-transition" rel="noreferrer noopener">Honeywell&#8217;s $1.81B Power Play: Acquires Air Products&#8217; LNG Tech to Lead Energy Transition</a>
Investors can gain exposure to APD via&nbsp;IShares U.S. Basic Materials ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) and Materials Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>).
Price Action: APD shares are up 3.49% at $268.91 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Asset Sales

Why Air Products and Chemicals Shares Are Surging Today

What is the key to bringing home sale volume up and home prices down? America&#8217;s current problem is insufficient supply, according to a new report outlining trends in the <a href="https://www.benzinga.com/topic/housing-market">U.S. housing market</a>.
The Data: Freddie Mac&#8217;s May macroeconomic <a href="https://www.freddiemac.com/research/forecast/20240516-economic-growth-moderated-start-year?utm_source=www.resiclubanalytics.com&amp;utm_medium=referral&amp;utm_campaign=u-s-housing-market-is-1-5-million-housing-units-below-a-balanced-market-finds-freddie-mac">report</a> examined key trends in the housing and mortgage market.
While 2024&#8217;s <a href="https://www.benzinga.com/top-stories/24/06/39391685/fed-members-cool-on-raising-interest-rates-these-conditions-could-take-months-and-more-likely-quarte">higher-for-longer interest rate</a> environment remains the most obvious obstacle to lowering home prices, the report emphasized supply as a means to restore the market to balance.
According to the report, vacancy rates—a very low 0.8% for housing and 6.6% for renters—must be restored in line with historical averages to make a dent in housing prices. In the first quarter of 2024, the total number of for-sale and for-rent units was 1.5 million below the balanced supply.
Why it Matters: Home prices have reached record levels in 2024. In June, the median sale price of a U.S. home hit an&nbsp;<a href="https://www.benzinga.com/real-estate/24/06/39337282/u-s-home-prices-hit-record-high-as-mortgage-rates-start-to-decline">all-time high</a>&nbsp;of $394,000. The median price for renting has <a href="https://www.benzinga.com/real-estate/23/06/32719718/despite-high-rental-rates-americans-are-putting-off-home-buying-in-record-numbers">also risen steadily</a> in recent months, albeit showing some signs of slowing. 
The rising price of homes has made the American dream of owning a home unsustainable for many Americans, especially members of Generation Z.
Increasing the U.S. housing supply is a logical solution to bringing housing prices down and making shelter affordable for most Americans.
Market Implications: Companies involved in residential construction stand to benefit if there&#8217;s a push to increase housing supply. These include major homebuilders such as D.R. Horton Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), Lennar Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) and PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>). Increased demand for new housing units could drive up their revenues.
The iShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) and the SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) are among the largest exchange-traded funds tracking the home construction sector. The iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) tracks materials, some of which are used in construction.
Read Next:
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<li> <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39462050/draftkings-offers-10k-prediction-pool-for-trump-biden-presidential-debate-11-questions-abo">DraftKings Offers $10K Prediction Pool For Trump, Biden Presidential Debate: 11 Questions About Immigration, Inflation, Putin And More</a></li>
</ul>
Image generated using artificial intelligence via Midjourney.

Real Estate

iShares Dow Jones US Homenstruction Index Fund

US Needs 1.5 Million More Homes To Tame Record Prices

Air Products and Chemicals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) shares are trading higher after it inked a 15-year agreement with TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) to supply 70,000 tons of green hydrogen <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39226464/decarbonization-of-european-refineries-a-first-agreement-signed-between-totalenergies-and-air-prod" rel="noreferrer noopener">annually in Europe, starting in 2030</a>.
Under the agreement, Air Products will supply green hydrogen to TotalEnergies&#8217; Northern European refineries, reducing CO2 emissions by 700,000 tons annually.
This first long-term deal follows TotalEnergies&#8217; call for tenders to supply 500,000 tons of green hydrogen per year to decarbonize its European refineries.
This contract supports TotalEnergies&#8217; goal of reducing net greenhouse gas emissions from its operations (Scope 1+2) by 40% by 2030 compared to 2015 levels.
Also, Air Products has committed over $15 billion to large-scale energy transition projects and launched several major low-carbon hydrogen initiatives worldwide, establishing itself as a reliable supplier.
Simultaneously, TotalEnergies and Air Products penned a memorandum of understanding for the supply of renewable power, including an initial Power Purchase Agreement (PPA) for 150 MW from a solar project in Texas.
The companies also plan to further explore PPA opportunities in the U.K., Poland, and France.
Patrick Pouyanné, Chairman and CEO of TotalEnergies said, &#8220;This deal with Air Products, the first signed following the call for tenders launched last year, is a steppingstone towards our goal of decarbonizing the hydrogen used in TotalEnergies&#8217; refineries in&nbsp;Northern Europe&nbsp;by the end of the decade.&#8221;
&#8220;Once again, we demonstrate our capacity to pioneer the energy transition and contribute to the emergence of a green hydrogen industry by offering long-term contracts with our six refineries and two biorefineries in&nbsp;Europe.&#8221;
Air Products&#8217; Chairman, President and CEO&nbsp;Seifi Ghasemi commented, &#8220;We always believed that if we made clean hydrogen available at commercial scale, the demand would be there. This contract validates our long-term strategy. Clearly the demand is here, and it will grow significantly as we move forward, playing an essential role in decarbonizing heavy industry and other sectors.&#8221;&nbsp;
Investors can gain exposure to APD via IShares Energy Storage &amp; Materials ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBAT#NASDAQ">IBAT</a>) and IShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>).
Price Action: APD shares are up 3.66% at $279.58 at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

IBAT

Why Air Products And Chemicals Shares Are Gaining Today

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/05/02/final-trades-samsara-prologis-and-the-xle.html">Halftime Report Final Trades</a>,&#8221; Stephen L. Weiss of Short Hills Capital Partners said Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is <a href="https://www.benzinga.com/general/entertainment/24/04/38510569/the-netflix-effect-how-drive-to-survive-is-diversifying-f1s-fanbase">back on its way</a>.
On April 18, the streaming service reported first-quarter revenue of $9.37 billion — up 14.8% year-over-year. The revenue beat a Street consensus estimate of $9.275 billion, according to data from Benzinga Pro. 
The Los Gatos, California-based company reported earnings per share of $5.28 for the quarter, which beat a Street consensus estimate of $4.51.
Kevin&nbsp;Simpson of Capital Wealth Planning said The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) has a 2.6% dividend yield.
The Home Depot is expected to hold its first-quarter earnings conference call on Tuesday, May 14. Analysts expect the company to report quarterly earnings at $3.6 per share, up from $3.4 per share in the year-ago quarter. Home Depot is projected to post revenue of $36.67 billion for the quarter.
On April 11, Home Depot will continue its relationship with Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Cloud to help customers in their home improvement projects. The two companies have collaborated closely since 2015 to innovate retail technology, whether in-store, online, or most often, a <a href="https://www.benzinga.com/news/24/04/38202786/home-depot-extends-google-cloud-partnership-to-include-ai-capabilities">blend of the two interactions.</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
Shannon Saccocia of NB Private Wealth named iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) as her final trade.
Price Action:
<ul>
<li>Netflix shares rose 2.5% to close at $579.34 on Friday.</li>
<li>iShares U.S. Basic Materials ETF gained 0.9% during Friday's session.</li>
<li>Home Depot shares rose 2.2% to settle at $342.85 on Friday.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38611902/wall-streets-most-accurate-analysts-views-on-3-tech-telecom-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Tech &amp; Telecom Stocks Delivering High-Dividend Yields</a>
Image: Shutterstock

Trading Ideas

GOOGL

NFLX

Netflix, Home Depot And More On CNBC's 'Final Trades'

Analyst Ratings

CNBC Halftime Report Final Trades: The Home Depot, Netflix, IShares U.S. Basic Materials ETF

Fastenal Company&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) shares are trading lower after the company reported first-quarter FY24 sales growth of 1.9% Y/Y to $1.895 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38198386/fastenal-company-reports-2024-first-quarter-earnings" rel="noreferrer noopener">missing the consensus of $1.914 billion</a>.
Net daily sales growth increased 1.9% Y/Y to $29.6 million. The company experienced higher unit sales in the first quarter of 2024 primarily led by growth with larger customers and Onsite locations opened in the last two years.&nbsp;
Weighted FASTBin/FASTVend signings (MEUs) rose 14.0% Y/Y to 6,726; Weighted FASTBin/FASTVend installations rose 10.5% Y/Y.
FAST's Digital Footprint represented 59.2% of sales in the quarter, an increase from 54.1% in the first quarter of 2023.
The gross margin contracted to 45.5% from 45.7% owing to the negative impact of customer and product mix.
Operating income was $390.2 million (-0.8% Y/Y), and the margin was 20.6%, a decline from 21.2% in the same quarter of 2023.
The company's first-quarter EPS was $0.52,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">missing the consensus of $0.53.</a>
Fastenal's operating cash flow for the quarter was $335.6 million, a decrease of 13.6% Y/Y.
The company held cash and equivalents of $237.1 million as of March 31, 2024.
Dividend:&nbsp;The company declared a dividend per share of $0.39, payable on May 23, 2024, to shareholders of record at the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38191479/fastenal-company-announces-cash-dividend" rel="noreferrer noopener">close of business on April 25, 2024</a>.
The company signed 102 new Onsite locations in the quarter and had 1,872 active sites on March 31, 2024 (+11.8% Y/Y).
Daily sales through the Onsite locations, excluding sales transferred from branches to new Onsites, grew at a low single-digit rate in the first quarter of 2024.&nbsp;
Outlook: For 2024, Fastenal continues to expect Onsite signings of 375 to 400 and weighted FASTBin and FASTVend device&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">signings to be 26,000 to 28,000 MEUs</a>.
Investors can gain exposure to the stock via&nbsp;Motley Fool Mid-Cap Growth ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/TMFM#BATS">TMFM</a>) and&nbsp;IShares U.S. Basic Materials ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38177765/fastenal-gears-up-for-q1-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate" rel="noreferrer noopener">Fastenal Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
Price Action: FAST shares are down 4.47% at $71.40 premarket on the last check Thursday.
Photo via Wikimedia Commons

Dividends

FAST

TMFM

Why Industrial And Construction Supplies Distributor Fastenal's Shares Are Down Today

Coal prices have risen in the past couple of days since the Port of Baltimore was closed following the collapse of the Francis Scott Key Bridge, cutting off <a href="https://www.benzinga.com/topic/supply-chain">many of the port&#8217;s facilities</a>.
The price of a ton of U.S. coal rose by 0.6% on Thursday to $113.25. Meanwhile, the Range Global Coal ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COAL#NYSE">COAL</a>), which tracks several different miners of differing grades of coal, rose 0.7% to $22.81, and is up 2.7% over the last two trading sessions.
Consol Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEIX#NYSE">CEIX</a>) is one of the biggest exporters through the port&#8217;s coal terminal. The Pennsylvania-based company <a href="https://investors.consolenergy.com/2024-03-26-CONSOL-Energy-Issues-Notice-on-Francis-Scott-Key-Bridge-Collapse-in-Baltimore,-MD">said</a> following the incident that it was working with port authorities to restore access to the terminal.
It added, however: &#8220;At this moment, we do not have a definitive timeline of when vessel access or normal operations will resume. We are looking at all available options to us to minimize or address direct and indirect impacts to the Company and its operations.&#8221;
Consol&#8217;s shares fell nearly 7% on Tuesday, but recovered some ground in subsequent sessions.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28141239/newplot-2024-03-28T181215.183.png" alt="" class="wp-image-269681" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28141239/newplot-2024-03-28T181215.183.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28141239/newplot-2024-03-28T181215.183-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/03/37961583/tesla-gm-ford-supply-chain-concerns-baltimore-port-closure-going-to-have-an-impact">Tesla, GM, Ford Supply Chain Concerns: Baltimore Port Closure &#8216;Going To Have An Impact&#8217;</a>
<h2 class="wp-block-heading">Coal Export Hub</h2>
The U.S. Energy Information Administration (EIA) <a href="https://www.eia.gov/todayinenergy/detail.php?id=61663">said</a> the port is the second-largest coal exporting hub in the country, accounting for 28% of total coal exports in 2023. Much of this is delivered to Asia.
The EIA warned: &#8220;The interruption in operations in Baltimore may affect the volume of exports this year.&#8221;
Baltimore&#8217;s coal terminal is attractively situated to receive coal from the northern Appalachia fields in western Pennsylvania and northern West Virginia, which produce both premium quality metallurgical for steel production and smelting, and steam coal for use in power stations.
Shipments of the predominant steam coal from Baltimore averaged 12 million tons between 2019-22, but surged to 19 million in 2023 after rising demand from Asia, particularly India. 
The EIA concluded: &#8220;Other nearby ports, most notably Hampton Roads, have additional capacity to export coal, although factors including coal quality, pricing, and scheduling will affect how easily companies can switch to exporting from another port.&#8221;
<h2 class="wp-block-heading">Metal Imports</h2>
Baltimore is not only a hub for exporting commodities, it is also a key destination for U.S. imports, with cobalt among the metals — with over half of total shipments arriving in Baltimore.
In addition, Baltimore was the third-largest destination for imports of unwrought primary aluminum last year. 
On commodity exchanges, the price of aluminum futures rose 2% on Thursday as the market faced supply chain glitches. The iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>), which tracks producers of metals and other raw materials, has gained 2.1% over the past couple of session.
Meanwhile, shipments of tin, copper and zinc are also expected to face delays as other ports are found to receive the extra capacity.
Now Read: <a href="https://www.benzinga.com/government/24/03/37969025/baltimore-bridge-ship-collisions-not-uncommon-5-more-u-s-fatal-accidents">Baltimore Bridge: Ship Collisions Not Uncommon — 5 More US Fatal Accidents</a>
Image by Shutterstock

Specialty ETFs

Topics

General

CEIX

COAL

Baltimore Port Shutdown Triggers Coal Price Hike: Energy Information Administration Warns Of Export Disruptions

Amid growing supply constraints and undervalued stock prices, value investors are gravitating towards mining stocks, seeking to capitalize on a market dislocation poised for a readjustment. 
Taylor McKenna, CFA analyst at Kopernik Global Investors LLC, shared insights at a Benzinga virtual event on Thursday, highlighting the significant gap between metal commodity prices and the <a href="https://www.benzinga.com/events/mining-unearthed-2024/">valuation of mining companies.</a>
Watch The Full Benzinga Virtual Event – Mining Unearthed: Navigating the Ore of Innovation!
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Mining Unearthed: Navigating the Ore of Innovation!" width="500" height="281" src="https://www.youtube.com/embed/0NxOCrH72ws?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div>
</figure>
<h3 class="wp-block-heading">Gold Stocks At A Discount Despite Rising Gold Prices</h3>
McKenna pointed out the stark disconnection in the market, with gold trading above $2,000 per ounce while gold stocks are priced at a discount of 50 to 80%. This discrepancy presents a unique opportunity for investors, according to McKenna, who is &#8220;very happy to take advantage of this currently&#8221;. 
He noted the decline in capital expenditure among mining companies to 80% of what was spent a decade or more ago, forecasting severe supply constraints for various metals.
&#8220;What&#8217;s really exciting for us is that valuations are reaching extremes,&#8221; McKenna said. 
<h3 class="wp-block-heading">Newmont Corp: A Case Study in Undervaluation</h3>
McKenna underscored Newmont Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) 60% stock price drop from the previous year, despite a 10% rise in gold prices. 
Contrary to concerns of value destruction, McKenna praised Newmont&#8217;s acquisition of Newcrest Mining last year as &#8216;a steal&#8217; for the company. 
He argued that Newmont&#8217;s valuation has actually increased.
&#8220;Currently, you can buy gold in the ground at the largest gold producer with the longest mine lives for under $200.00 an ounce. Even if you add lifting cost and then a margin on top of that, it&#8217;s still well below the current gold price of $2,000,&#8221; McKenna said. 
Chart: Newmont Trades At Extreme Discount Compared To Gold Prices 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-1024x495.png" alt="" class="wp-image-218119" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/15161514/image-35.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Stronger Balance Sheets, Positive Outlook</h3>
McKenna also commended the improved financial health of larger mining firms. He noted their cleaner balance sheets and net cash positions. 
Gold miners&#8217; valuations are already at historic lows relative to the price of gold. McKenna sees even more upside potential if precious metal prices climb further, driven by industry-wide supply constraints.
Addressing the question of Wall Street&#8217;s apparent oversight of this dislocation, McKenna expressed confidence that &#8220;eventually investors will wake up to this.&#8221; 
<h3 class="wp-block-heading">List of ETFs Holding Newmont Corp.</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETF Name</td>
<td>↓ Weight %</td>
</tr>
<tr>
<td>iShares, Inc. &#8211; iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>)</td>
<td>19.05%</td>
</tr>
<tr>
<td>VanEck ETF Trust &#8211; VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>)</td>
<td>13.20%</td>
</tr>
<tr>
<td>Sprott Funds Trust &#8211; Sprott Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGDM#NYSE">SGDM</a>)</td>
<td>11.10%</td>
</tr>
<tr>
<td>WisdomTree Trust &#8211; WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDMN#NYSE">GDMN</a>)</td>
<td>8.06%</td>
</tr>
<tr>
<td>SPDR Index Shares Funds &#8211; SPDR S&amp;P North American Natural Resources ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NANR#NYSE">NANR</a>)</td>
<td>5.88%</td>
</tr>
<tr>
<td>iShares, Inc. &#8211; iShares MSCI Global Silver and Metals Miners Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td>
<td>4.49%</td>
</tr>
<tr>
<td>iShares Trust &#8211; iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>)</td>
<td>4.43%</td>
</tr>
</tbody>
</table>
</figure>
<a href="https://www.youtube.com/@Benzinga"></a>Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37139816/2008-big-short-oracle-burry-bets-big-on-chinese-giants-backs-google-amazons-ai-wave">2008 &#8216;Big Short&#8217; Oracle Burry Bets Big On Chinese Giants, Backs Google, Amazon&#8217;s AI Wave</a>
Image: Pixabay

Analyst Color

Mid Cap

Events

Exclusives

GDMN

Market Vectors ETF Trust Market Vectors Gold Miners

NANR

RING

SGDM

EXCLUSIVE: Value Investor Is 'Very Happy To Take Advantage' Of Top Gold Miner At Historical Discount

Rumors

Global

Canada-US Border Crossing In Manitoba Blocked By Anti-Vaccine Mandate Protest

JC O&#39;Hara of MKM Partners and Gina Sanchez of Chantico Global and Lido Advisors spoke on <a href="https://www.cnbc.com/video/2021/07/29/infrastructure-stocks-to-watch-as-bill-advances-through-congress.html">CNBC&#39;s &quot;Trading Nation&quot;</a> about stocks that could benefit from the infrastructure bill.
Sanchez said the bill is broad enough to push higher Global X US Infrastructure Development ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/pave#BATS">PAVE</a>), but she wants to focus on the materials. She likes broad material ETFs like iShares US Basic Materials ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iym#NYSE">IYM</a>). Among the individual names, she would pick BHP Group Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>), Vulcan Materials Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vmc#NYSE">VMC</a>) and Cleveland-Cliffs Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clf#NYSE">CLF</a>).
O&#39;Hara wants to follow the money. He noticed that large portions of cash in this bill are allocated to the power infrastructure and water. He would buy utilities to get exposure to the power infrastructure and American Water Works Company Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/awk#NYSE">AWK</a>) for the exposure in the water space. O&#39;Hara likes American Water Works because it&#39;s breaking out and because of its dividend growth. Its dividend is growing about 10% a year.

PAVE

'Trading Nation' Traders Share Their Infrastructure Picks

On CNBC&#39;s &quot;Fast Money Halftime Report,&quot; the investment committee gave their final trades.
Market Rebellion Co-Founder Jon Najarian likes Jumia Technologies AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jmia#NYSE">JMIA</a>).
Pivotal Advisors Founder Tiffany McGhee likes&nbsp;Walt Disney Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) ahead of the company&#39;s earnings next week and&nbsp;she expects good things.
BNY Mellon&#39;s Liz Young likes iShares U.S. Basic Materials ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iym#NYSE">IYM</a>) and believes the build-back-better-plan brings an Infrastructure package we&#39;ve been waiting for.
Virtus Investment Partners&#39; Joe Terranova likes PayPal Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pypl#NASDAQ">PYPL</a>)&nbsp;and notes the average price target is sitting right where the current price is. He also noted the stock has received a couple of upgrades and believes it goes much higher.
Ritholtz Wealth Management CEO Josh Brown also likes PayPal&nbsp;and believes this could be one of the largest financial services companies in the world.

JMIA

PYPL

'Halftime Report' Final Trades Of The Day: PayPal, Disney And Jumia

The materials sector is garnering a lot of investor attention lately. Industrial Metals have been rebounding on greater global optimism. This is primarily due to robust global growth cues and strong demand. Manufacturing has been picking up pace globally and driving demand for metals.

	Cause for Appeal

	On Oct 19, the Senate passed a budget of $4 trillion in a 51-49 vote, which will allow the Republicans to move ahead with the tax cuts with a simple majority instead of the 60-vote supermajority that is generally required. Moreover, this has increased investor optimism about President Donald Trump delivering on his promises of greater infrastructure spending, which is expected to give a boost to the materials sector (read: <a href="https://www.zacks.com/stock/news/279566/GOP-Nears-Tax-Reform-Buy-These-ETFs">GOP Nears Tax Reform: Buy These ETFs</a>).

	Per the Commerce department, construction spending increased 0.3% in September on a monthly basis to $1.22 trillion. It grew 2% on a year-over-year basis.

	Moreover, strong earnings performance has contributed to gains in the sector. U.S. economic fundamentals seem to be strong. GDP increased 3% annually in the July-September period compared with a 3.1% increase in the third quarter.

	Let us now discuss two ETFs focused on providing exposure to the sector.

	Materials Select Sector SPDR ETF XLB

	This fund seeks to provide exposure to materials stocks and tracks the Materials Select Sector Index. It has AUM of $4.4 billion and charges a moderate fee of 14 basis points a year. It has 25 holdings and bears significant concentration risk as over 68.7% of the assets are allocated to the top 10 holdings.

	From a sector look, the fund has high exposure to Chemicals, Containers &amp; Packaging and Metals &amp; Mining, with 72.9%, 13.2% and 9.2% exposure, respectively (as of Sep 30, 2017). The fund&#39;s top three holdings are DowDuPont Inc. DWDP, Monsanto Co. MON and Praxair Inc PX with 22.9%, 8.0% and 6.5% allocation, respectively (as of Nov 7, 2017).&nbsp; The fund has returned 26.4% in a year and 18.0% year to date (as of Nov 7, 2017). XLB has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.

	iShares U.S. Basic Materials ETF IYM

	This fund seeks to provide exposure to materials stocks and tracks the Dow Jones U.S. Basic Materials Index. It has AUM of $967.3 million and charges a fee of 44 basis points a year. It has 50 holdings and bears significant concentration risk as over 66.5% of the assets are allocated to the top 10 holdings.

	From a sector look, the fund has high exposure to Diversified Chemicals, Specialty Chemicals and Fertilizers &amp; Agricultural Chemicals, with 28.6%, 22.7% and 12.7% exposure, respectively (as of Nov 6, 2017). The fund&#39;s top three holdings are DowDuPont Inc., Monsanto Co. and Praxair Inc with 24.2%, 7.8% and 6.2% allocation, respectively (as of Nov 6, 2017). The fund has returned 28.7% in a year and 19.3% year to date (as of Nov 7, 2017). IYM has a Zacks ETF Rank #3 with a High risk outlook.

	Bottom Line

	XLB is more popular than IYM, as is evident from its higher AUM. Moreover, it also may be more appealing to investors owing to its cheaper expense ratio.&nbsp; However, IYM has a more diversified exposure in terms of number of holdings.

	Moreover, both the funds have had relatively similar year-to-date performance. IYM returned 1.3% more than XLB so far this year whereas in a year, IYM outperformed XLB by 2.3%. With growing developments in the sector, these ETFs are poised to offer great growth potential. However, since the factors driving growth in this sector are still exposed to a great deal of uncertainty, a more popular ETF like XLB might help alleviate some of the political uncertainties prevailing in the region.

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	<a href="http://www.zacks.com/registration/pfp?ALERT=ZER_LINK&amp;d_alert=ZER_LINK&amp;t=MON&amp;ADID=BENZ_CONTENT_ZER_ARTCAT_ETF_NEWS_AND_COMMENTARY&amp;cid=CS-BENZ-FT-282270">Monsanto Company (NYSE: </a><a class="ticker" href="/stock/mon#NYSE">MON</a>): Free Stock Analysis Report 
	&nbsp; 
	<a href="http://www.zacks.com/registration/pfp?ALERT=ZER_LINK&amp;d_alert=ZER_LINK&amp;t=DWDP&amp;ADID=BENZ_CONTENT_ZER_ARTCAT_ETF_NEWS_AND_COMMENTARY&amp;cid=CS-BENZ-FT-282270">Dow Chemical Company (The) (DWDP): Free Stock Analysis Report</a> 
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	<a href="http://www.zacks.com/stock/news/282270/materials-etfs-head-to-head-xlb-vs-iym?cid=CS-BENZ-FT-282270">To read this article on Zacks.com click here.</a> 
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Materials ETFs Head To Head: XLB Vs. IYM

DowDuPont Inc. <a href="http://www.zacks.com/stock/quote/DWDP">DWDP</a>, created from the merger of Dow Chemical and DuPont on Aug 31, reported mixed third-quarter results. While the company met our earnings estimate, revenues beat.
	Quick Look to Earnings
DowDuPont Inc. DWDP, created from the merger of Dow Chemical and DuPont on Aug 31, reported mixed third-quarter results. While the company met our earnings estimate, revenues beat.
	Quick Look to Earnings
	Earnings per share came in at 55 cents, matching the Zacks Consensus Estimate but increasing 10% from the year-ago earnings. Revenues climbed 7.7% year over year to $18.3 billion and surpassed our estimate of $17.5 billion (read: <a href="https://www.zacks.com/stock/news/276893/5-sector-etfs-for-revenue-growth-play">5 Sector ETFs for Revenue Growth Play</a>).
	The company remained focused on its $3 billion cost synergy target, stemming from $1 billion in Agriculture, $1.2 billion in Materials Science and $0.8 billion in Specialty Products. These cost savings are expected to generate through procurement savings, layoffs, buildings and facilities consolidation, and shutting down selected assets. Additionally, the company is in the process of integrating the three divisions and their separation into three independent companies. The breakup is expected to take place within 18 months of the merger closing.
	Market Impact
	Shares of DWDP dropped 1.7% on the day following the earnings announcement. The stock has a Zacks Rank #3 (Hold) and a VGM Style Score of A. Plus it belongs to a solid industry having Zacks Rank in the <a href="https://www.zacks.com/stocks/industry-rank/industry/chemical-diversified-34">top 26%</a>, indicating growth potential.
	Given this, ETFs having large allocation to this chemical giant will be in focus in the days ahead. The drop in DWDP shares has led to sluggish trading in these ETFs as well. Below, we have highlighted them in detail. These funds have a Zacks ETF Rank #3 (see: <a href="https://www.zacks.com/funds/etfs/etf-categories/Materials-ETFs-15">all the Materials ETFs here</a>):
	iShares U.S. Basic Materials ETF IYM
	This ETF tracks the Dow Jones U.S. Basic Materials Index and holds 50 stocks in its basket. The fund has AUM of $956.3 million and charges 44 bps in fees and expenses. Volume is good as it exchanges around 182,000 shares a day. DowDuPont occupies the top position in the basket making up for one-fourth of the portfolio. The product is heavily skewed toward the chemical segment with three-fourth of the portfolio, while industrial gases, steel, and metals &amp; mining receive minor allocation each. It lost 0.7% on the day.
	Materials Select Sector SPDR XLB
	The most-popular material ETF follows the Materials Select Sector Index. This fund manages about $4.5 billion in its asset base and trades in volumes as heavy as around 4.1 million. The ETF charges 14 bps in fees per year from investors. In total, the fund holds about 25 securities in its basket with DWDP taking the top spot, with nearly 23.2% allocation. In terms of industrial exposure, chemicals dominates the portfolio with 73.4% share while containers &amp; packaging, and metals &amp; mining round off the top three positions. XLB shed 0.7% on the day.
	Vanguard Materials ETF VAW
	This fund has amassed about $2.2 billion in its asset base and offers exposure to 118 stocks by tracking the MSCI US Investable Market Materials 25/50 Index. The ETF has 0.10% in expense ratio while volume is moderate at 88,000 shares. Here too, DowDuPont is the top firm accounting for nearly 18.1% share. Chemicals makes up for nearly three-fifths of the portfolio, while container &amp; packaging and steel offer a nice mix in the portfolio. The ETF has lost 0.6% (read: <a href="https://www.zacks.com/stock/news/272330/trump-passes-order-to-fix-us-infrastructure-etfs-in-focus">Trump Passes Order to Fix U.S. Infrastructure: ETFs in Focus</a>).
	Fidelity MSCI Materials Index ETF FMAT
	This fund provides exposure to 118 materials stocks with AUM of $273.4 million. This is done by tracking the MSCI USA IMI Materials Index. Here too, DWDP is the top two firm with 18.4% allocation. Chemicals accounts for 67.9%, while container &amp; packaging, and metals &amp; mining round off the top three spots with a double-digit exposure each. The ETF has 0.08% in expense ratio while volume is moderate at more than 56,000 shares a day. It was down 0.6%.
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	&nbsp; 
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