Southern Copper 株価情報 (NYSE: SCCO)

最新ニュース Southern Copper (NYSE:SCCO) 株価情報

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

Mexico's President Claudia Sheinbaum has announced a review of a controversial bill to ban <a target="_blank" href="https://www.benzinga.com/topic/mining" rel="noreferrer noopener">open-pit mining</a>. Congress approved the bill in July after debating balancing environmental protection with economic priorities.
"Open-pit mining warrants a thorough review, as activities such as sand extraction for cement production and lithium mining—critical for national development—are conducted using this method. It is vital to assess the specifics of the constitutional reform's provisions," Sheinbaum <a target="_blank" href="https://www.gob.mx/presidencia/articulos/version-estenografica-conferencia-de-prensa-de-la-presidenta-claudia-sheinbaum-pardo-del-6-de-diciembre-de-2024?idiom=es" rel="noreferrer noopener">said</a>.
Mexico's mining industry is a pillar of its economy, accounting for around 8% of its industrial GDP. In 2022, mining exports totaled $17.6 billion, generating a trade surplus of $12.8 billion. It directly employs over 370,000 workers and supports millions more in related industries such as logistics and equipment manufacturing.
Large operating open-pit mines include Newmont's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) Peñasquito and Southern Copper's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) Buenavista. The ban would likely stop the San Nicolás copper-zinc project, a 50-50 partnership between Teck Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>) and Agnico Eagle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>).
CAMIMEX, Mexico's primary mining chamber, warned that an outright ban could reduce GDP by 1% and threaten nearly 200,000 jobs. Open-pit mining accounts for 60% of the country's mining production value and is critical for extracting key resources like gold, silver, copper and strategic minerals like lithium.
Under former President Andrés Manuel López Obrador (AMLO), Mexico's mining sector faced heavy restrictions. In 2023, AMLO nationalized lithium, declaring it a strategic resource for Mexico's energy independence and banning new concessions for private companies.
He also established a state-run lithium company and canceled multiple existing concessions, triggering international arbitration disputes.
While the bill passed Congress during his administration, Sheinbaum took over in October, becoming the first female president.
Unlike AMLO, she faces economic difficulties at the beginning of her six-year term. Without foreign capital, it will be hard to provide quality jobs, education, and healthcare.
Meanwhile, El Salvador's President Nayib Bukele is pushing to go in the opposite direction. In 2017, his predecessor implemented a total mining ban to protect the country's water resources.
Still, Bukele, a famous Bitcoin advocate, claims that the untapped mineral reserves could transform the economy.
"We potentially have the largest gold deposits per square kilometer in the world," he <a target="_blank" href="https://x.com/nayibbukele/status/1865129919870578791" rel="noreferrer noopener">stated</a>, arguing that responsible mining could generate $131 billion—equal to 380% of the country's GDP—from just 4% of identified reserves. Earlier this year, Bukele secured the second term, winning 84.65% of popular votes. With control over Congress, lifting the ban seems inevitable.
However, in contrast to Mexico, El Salvador is a small country, largely dependent on the Lempa River as a primary water source. Any large-scale operations, particularly in the gold-rich north of the country, could pollute this water flow and cause more problems for what it is worth.
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Mexico And El Salvador Ponder Different Mining Stances

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WIIM

Shares of Southern Copper are trading higher. China has pledged to ramp up monetary stimulus.

A new 13F filing from Viking Fund Management reveals which companies the fund bought and sold in the third quarter, including exiting some oil companies ahead of the 2024 election.
Third Quarter Exits: Viking Fund Management sold out of eight stocks completely in the third quarter, including positions in some of the largest oil companies.
Here are the positions exited, as <a href="https://13f.info/13f/000116906924000080/compare/000116906924000006">reported </a>by 13finfo:
<ul>
<li>Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</li>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>)</li>
<li>SM Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>)</li>
<li>Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</li>
<li>Sociedad Quimica y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>)</li>
<li>Murphy USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>)</li>
<li>Sanofi SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NYSE">SNY</a>)</li>
<li>Cactus Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>)</li>
</ul>
Third Quarter New Positions: The following were the new stocks added to the fund in the third quarter, ranked in size by the dollar value at the end of the quarter.
<ul>
<li>Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>)</li>
<li>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</li>
<li>HF Sinclair Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>)</li>
<li>Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>)</li>
<li>NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</li>
<li>Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>)</li>
<li>Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>)</li>
<li>Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</li>
<li>United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>)</li>
<li>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>)</li>
<li>Portland General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>)</li>
<li>Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>Nutrien (NTR.TO – Canada)</li>
</ul>
 Big Moves: The fund made several changes to its existing positions alongside the new positions and exited positions.
Here are the biggest additions in the quarter to existing stakes:
<ul>
<li>Civitas Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIVI#NYSE">CIVI</a>): +16,900%</li>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>): +882%</li>
<li>LyondellBassell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>): +400%</li>
<li>Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>): +386%</li>
<li>Dow Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>): +200%</li>
</ul>
Here are the biggest position cuts during the quarter to existing stakes:
<ul>
<li>Texas Pacific Land (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>): -60%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): -50%</li>
<li>Haliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>): -40%</li>
<li>ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): -36%</li>
<li>Ovintiv (OVV.TO – Canada): -33%</li>
</ul>
Why It's Important: At the end of the quarter, these are the fund's largest positions ranked by dollar value and the percentage they make up of the fund:
<ul>
<li>Broadcom: $27.96 million, 4.5%</li>
<li>AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>): $24.88 million, 4.0%</li>
<li>NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>): $22.65 million, 3.7%</li>
<li>Entergy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>): $16.27 million, 2.6%</li>
<li>BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>): $14.24 million, 2.3%</li>
</ul>
The fund added significantly to its position in Broadcom, which remains the largest holding.
The quarter saw the sale of several oil stocks, but the fund opened new positions in several energy names in the quarter.
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Viking Fund Management Sells Big Oil Stocks In Q3, Cuts Tesla Position In Half, Adds To Largest Position Broadcom

Shares of base metal stocks are trading lower. Weakness may be due to China stimulus efforts.

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>)
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ZION

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

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.

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>
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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

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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:
<ul>
<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: 
<ul>
<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>
</ul>
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SANDFIRE RES AMER INC by Sandfire Resources America Inc.

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Copper Deficit To Reach 4 Million Tons By 2030, Analyst Predicts: Mining, Electrification Plays Set To Benefit

Reindustrialization efforts create enormous opportunities for industrial stocks as sectors are driven by massive government investment. Amid this backdrop, you might keep an eye on fundamentally strong industry stocks like Siemens Aktiengesellschaft (SIEGY), Southern Copper Corp (SCCO), and TE Connectivity (TEL). Continue reading… Industrial stocks are increasingly positioned for gains as global reindustrialization picks up speed, driven by supply chain transformations, reshoring trends, and investments in infrastructure. Thus, investors looking to capitalize on this trend might consider industrial stocks Siemens Aktiengesellschaft (<a href="https://stocknews.com/stock/SIEGY/">SIEGY</a>), Southern Copper Corporation (<a href="https://stocknews.com/stock/SCCO/">SCCO</a>), and TE Connectivity plc (<a href="https://stocknews.com/stock/TEL/">TEL</a>), as they are positioned for better growth momentum.
The industrial sector stands to benefit from significant government investment in manufacturing, energy, and supply chain stability. The United States has shifted its major policy initiatives, including the Inflation Reduction Act, CHIPS Act, and Infrastructure Investment and Jobs Act, which <a href="https://privatebank.jpmorgan.com/nam/en/insights/markets-and-investing/the-opportunity-in-renewed-us-industrial-policy">collectively inject nearly $2.4 trillion</a> into sectors like semiconductor manufacturing, electric vehicles, and renewable energy infrastructure.
As per <a href="https://www2.deloitte.com/us/en/insights/industry/manufacturing/manufacturing-industry-outlook.html">Deloitte</a>, approximately 86% of manufacturing executives responding to the latest industrial outlook survey indicate that in 2024, smart factory solutions will be one of the main competitive advantages supporting their endeavors for the next five years.
Additionally, the U.S. manufacturing sector <a href="https://www.commerce.gov/news/blog/2024/10/manufacturing-booms-thanks-biden-harris-administration-investments">contributes $2.65 trillion to the U.S. economy</a>, employs nearly 13 million American workers, and accounts for 10.3 percent of the nation's GDP. This further bolsters the outlook for the industrial stocks.
Considering these conducive trends, let's look at the fundamentals of the above-mentioned stocks in detail:
Siemens Aktiengesellschaft (<a href="https://stocknews.com/stock/SIEGY/">SIEGY</a>)
Headquartered in Munich, Germany, SIEGY is a technology company that focuses on the areas of automation and digitalization internationally. It operates through five segments: Digital Industries, Smart Infrastructure; Mobility; Siemens Healthineers; and Siemens Financial Services (SFS).
On October 17, SIEGY launched BIMPOWER, a groundbreaking plug-in for Autodesk Revit, transforming the way engineers and contractors design 3D Building Information Modeling (BIM) projects. This launch simplifies the design and integrates seamlessly with Autodesk Revit, providing a comprehensive solution for engineers and contractors.
In the same month, the company also launched the RapidSBx switchboard to address the critical need for power distribution that feeds commercial switchboards and supports sustainable infrastructure. This new launch is flexible and durable and comes with easy installation, providing users with the adaptability needed for diverse environmental conditions.
In the fiscal third quarter that ended on June 30, 2024, SIEGY's net sales increased 4.2% year-over-year to €18.90 billion ($20.53 billion). Its gross profit grew 9% from the prior year's quarter to €7.75 billion ($8.42 billion).
Its EBITDA from continuing operations came in at €3.43 billion ($3.72 billion), up 36.3% year-over-year. In addition, the company's net income rose 48.1% from the year-ago value to €2.13 billion ($2.32 billion), while its <a href="https://www.investopedia.com/terms/e/eps.asp">earnings per share</a> stood at €2.48, up 56%% year-over-year.
Analysts expect SEIGY's revenue for the first quarter (ending December 2024) to grow 4.1% year-over-year to $20.65 billion, while its EPS for the same quarter is expected to increase 60.9% year-over-year to $2.61. Moreover, the company has topped the EPS estimates in each of the trailing four quarters, which is excellent.
SIEGY shares have surged 46.7% over the past year to close the last trading session at $97.07.
SIEGY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
SIEGY has a B grade for Value and Stability. It is ranked #6 out of 34 stocks in the B-rated <a href="https://stocknews.com/category/industrial-manufacturing/">Industrial - Manufacturing</a> industry. <a href="https://stocknews.com/stock/SIEGY/">Click here</a> to see the additional ratings for SIEGY (Growth, Momentum, Sentiment, and Quality).
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 October 17, backed by its strong financials, the company declared its shareholders a quarterly dividend of $0.70 per share and a stock dividend of 0.0062 shares per share of common stock, which is payable on November 21, to shareholders of record on November 6, 2024.
SCCO pays an annual dividend of $2.80, which translates to a yield of 2.50% 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.
SCCO's sales for the third quarter (ended September 30, 2024) increased 17% year-over-year to $2.93 billion. The company reported an operating income of $1.45 billion, indicating a 35.6% growth from the prior-year quarter. SCCO's adjusted EBITDA came in at $1.68 billion, up 30.5% year-over-year, while its net income per share grew 43.8% from the prior-year quarter to $1.15.
The consensus revenue estimate of $3.14 billion for the fiscal fourth quarter (ending December 2024) represents a 36.7% increase year-over-year. The consensus EPS estimate of $1.23 for the same quarter indicates a 114.9% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus EPS estimate in three of the trailing four quarters.
The stock has gained 57% over the past year and 35.6% over the past nine months to close the last trading session at $109.55.
SCCO's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It also has an A grade for Quality and a B for Growth and Sentiment. Within the <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> industry, it is ranked #4 out of 29 stocks. <a href="https://stocknews.com/stock/SCCO/">Click here</a> to see SCCO's ratings for Value, Momentum, and Stability.
TE Connectivity plc (<a href="https://stocknews.com/stock/TEL/">TEL</a>)
Based in Ballybrit, Ireland, TEL is a global industrial technology company that manufactures and sells connectivity and sensor solutions. The company operates through three segments: Transportation Solutions; Industrial Solutions; and Communications Solutions. 
With 9 years of consecutive dividend growth, TEL pays an annual dividend of $2.60, which translates to a yield of 1.71% at the current share price. Its four-year average dividend yield is 1.62%. Also, the company's dividend payouts have increased at CAGRs of 8.16% and 6.62% over the past three and five years, respectively.
For the fourth quarter that ended September 29, 2024, TEL posted total group revenue of $4.10 billion, indicating a marginal growth from the prior-year quarter. Its adjusted operating income increased 8% year-over-year to $755 million and the adjusted EPS came in at $1.95, up 9.6% year-over-year. Also, the company's free cash flow amounted to $2.40 billion, reflecting an increase of 17% year-over-year.
According to TEL's guidance for its fiscal first quarter, it is projecting sales to be approximately $3.90 billion. Additionally, its adjusted EPS is expected to grow 2% year-over-year, amounting to $1.88.
Street expects TEL's revenue for the fiscal first quarter (ending December 2024) to increase 2.1% year-over-year to $3.91 billion. Its EPS for the same period is expected to register a 3.1% growth from the prior year, settling at $1.90. In addition, it surpassed the EPS in each of the trailing four quarters, which is promising.
Over the past year, the stock has gained 25.1%, closing the last trading session at $147.42.
It's no surprise that TEL has an overall rating of B, equating to a Buy in our POWR Ratings system. It has a B grade for Value, Stability, and Sentiment. Out of 34 stocks in the B-rated Industrial - Manufacturing industry, TEL is ranked #4.
Beyond what is stated above, we've also rated TEL for Value, Momentum, and Stability. Get all TEL's ratings <a href="https://stocknews.com/stock/TEL/">here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

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SIEGY shares were trading at $98.38 per share on Friday afternoon, up $1.31 (+1.35%). Year-to-date, SIEGY has gained 7.35%, versus a 21.45% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/siegy-scco-tel-3-industrial-stocks-ready-to-benefit-from-global-reindustrialization/>3 Industrial Stocks Ready to Benefit From Global Reindustrialization</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Industrial Stocks Ready to Benefit From Global Reindustrialization

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JPMorgan upgraded Southern Copper (SCCO) to Neutral from Underweight with a price target of $92.50, up from $68. The firm added Tia Maria into its ...

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The industrial industry is set for growth due to transformative government investments and increasing demand for infrastructure-related projects. Hence, investors might consider watching industrial stocks, Honeywell International (HON), Southern Copper (SCCO), and Corning (GLW), which have strong earnings growth. Read more… Industrial stocks are increasingly positioned for gains due to the increasing adoption of automation and smart technologies and investments in infrastructure. Given this backdrop, it could be wise to watch fundamentally strong industrial stocks, Honeywell International Inc. (<a href="https://stocknews.com/stock/HON/">HON</a>), Southern Copper Corporation (<a href="https://stocknews.com/stock/SCCO/">SCCO</a>), and Corning Incorporated (<a href="https://stocknews.com/stock/GLW/">GLW</a>), with strong earnings growth.
For example, the industrial machinery market is anticipated to register a <a href="https://www.gminsights.com/industry-analysis/industrial-machinery-market">CAGR of 7.5% by 2032</a> due to the increasing adoption of automation and smart technologies, which significantly enhance productivity and efficiency. Key sectors fueling this growth include material handling and robotics, which are integral to modern industrial processes.
Moreover, major infrastructure spending programs, like the <a href="https://www.eesi.org/articles/view/tracking-transportation-investments-in-the-infrastructure-investment-and-jobs-act-and-inflation-reduction-act">U.S. Infrastructure Investment and Jobs Act</a> and the Inflation Reduction Act, are driving industrial expansion. These initiatives demand substantial investments in construction machinery, transportation networks, and manufacturing.
Given these favorable industry trends, let's look at the fundamentals of the top 3 industrial stocks.
Honeywell International Inc. (<a href="https://stocknews.com/stock/HON/">HON</a>)
HON engages in aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses globally. It operates through four segments: Aerospace; Honeywell Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions.
On November 22, HON announced the sale of its Personal Protective Equipment (PPE) business to Protective Industrial Products, Inc. (PIP), an Odyssey Investment Partners portfolio company, for $1.325 billion in cash. This transaction will allow HON to simplify and optimize its businesses. Also, it should position HON to continue creating long-term value for shareholders.
For the third quarter of 2024, which ended on September 30, HON's <a href="https://www.investopedia.com/terms/n/netsales.asp">net sales</a> increased 5.6% year-over-year to $9.73 billion, while its Aerospace Technologies segment's net sales grew 11.8% from the same period last year to $3.91 billion.
Its attributable net income stood at $1.41 billion, while its adjusted EPS for the quarter increased 8.4% year-over-year to $2.58. Also, the company's free cash flow amounted to $1.72 billion, representing an increase of 10.1% from the last year.
Street expects HON's revenue and EPS for the fiscal fourth quarter (ending December 2024) to increase 8.5% and 6.9% year-over-year to $10.24 billion and $2.78, respectively. In addition, it surpassed the consensus EPS estimates in each of the trailing four quarters, which is excellent.
The stock has gained 18.4% over the past year to close the last trading session at $229.95.
HON's strong fundamentals 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 Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
HON has a B grade for Growth, Momentum, and Stability. It is ranked #27 out of 79 stocks in the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry. <a href="https://stocknews.com/stock/HON/">Click here</a> to access the other HON ratings for Value, Sentiment, and Quality.
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 54.42% is 230.1% higher than the industry average of 16.49%. Similarly, its 27.67% trailing-12-month net income margin is 449.1% above the industry average of 5.04%.
SCCO's sales for the third quarter (ended September 30, 2024) increased 17% year-over-year to $2.93 billion. The company reported an operating income of $1.45 billion, indicating a 35.6% growth from the prior year's quarter. SCCO's adjusted EBITDA came in at $1.68 billion, up 30.5% year-over-year, while its net income per share grew 43.8% from the prior-year quarter to $1.15.
The consensus revenue estimate of $2.98 billion for the fiscal fourth quarter (ending December 2024) represents a 29.9% increase year-over-year. The consensus EPS estimate of $1.17 for the same quarter indicates a 106.5% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus EPS estimate in three of the trailing four quarters.
The stock has gained 42.5% over the past year and 26.5% over the past nine months to close the last trading session at $100.05.
SCCO'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.
SCCO has an A grade for Quality and a B for Growth and Stability. It is ranked #8 out of 29 stocks in the <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> industry.
In addition to the POWR Ratings we've stated above, we also have SCCO ratings for Value, Sentiment, and Momentum. Get all SCCO ratings <a href="https://stocknews.com/stock/SCCO/">here</a>.
Corning Incorporated (<a href="https://stocknews.com/stock/GLW/">GLW</a>)
GLW engages in providing display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally.
On October 28, AT&amp;T Inc. (<a href="https://stocknews.com/stock/T/">T</a>) and GLW together signed a multi-year purchase agreement. Under this agreement, GLW will provide next-generation fiber, cable, and connectivity solutions to support the expansion of AT&amp;T's fiber network and help bring high-speed internet.
The stock's trailing-12-month EBIT margin of 9.89% is 90% higher than the industry average of 5.20%. Similarly, its 3.90% trailing-12-month ROTC is 25.6% above the industry average of 3.10%.
For the third quarter of 2024, which ended on September 30, GLW's net sales increased 6.9% year-over-year to $3.39 billion. The company's operating income for the quarter amounted to $302 million, representing an increase of 28% year-over-year.
Its core net income stood at $465 million, up 20.5% year-over-year, while its core earnings per share rose 20% from the prior year's quarter to $0.54. Also, GLW's adjusted free cash flow grew 18.7% from the year-ago value to $553 million.
The consensus revenue estimate of $3.76 billion for the fourth quarter (ending December 2024) represents a 14.8% increase year-over-year. The consensus EPS estimate of $0.56 for the same quarter indicates a 42.5% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus revenue estimates in each of the trailing four quarters.
Over the past nine months, the stock has surged 51.7%, closing the last trading session at $49.24.
GLW'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. 
GLW has an A grade for Growth and a B for Momentum and Sentiment. It is ranked #13 out of 35 stocks in the <a href="https://stocknews.com/category/industrial-manufacturing/">Industrial - Manufacturing</a> industry. <a href="https://stocknews.com/stock/GLW/">Click here</a> to see the additional ratings for GLW (Stability, Value, and Quality).
What To Do Next?
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HON shares were trading at $226.40 per share on Tuesday afternoon, down $3.55 (-1.54%). Year-to-date, HON has gained 10.26%, versus a 28.25% 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/hon-scco-glw-t-3-industrial-stocks-with-strong-earnings-growth-to-watch/>3 Industrial Stocks With Strong Earnings Growth to Watch</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Industrial Stocks With Strong Earnings Growth to Watch

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