2 Copper Stocks To Watch Ahead of October 2024

Industry Overview - The copper sector includes companies involved in exploration, mining, refining, and distribution of copper, which is essential for construction, electronics, and renewable energy technologies [1] - Copper stocks reflect global economic health and infrastructure development trends, with demand increasing during economic growth and urbanization [1] Investment Considerations - Evaluating copper stocks requires assessing reserve quality, production costs, geographic diversification, debt levels, and exposure to end markets [2] - Environmental, social, and governance (ESG) factors are important in the mining industry [2] Company Analysis: Southern Copper Corporation (SCCO) - Southern Copper Corporation is a major integrated copper producer with operations primarily in Mexico and Peru, known for having large copper reserves [3] - In Q2 2024, Southern Copper reported net sales of $3,118.3 million, a 35.5% increase, and net income of $950.2 million, a 73.6% increase, with copper production growing by 6.6% quarter-on-quarter [3] - The company declared a quarterly cash dividend of $0.60 per share and a stock dividend of 0.0056 shares per share of common stock [3] Company Analysis: Freeport-McMoRan Inc. (FCX) - Freeport-McMoRan is one of the largest publicly traded copper producers, operating significant mines in North America, South America, and Indonesia [5] - The company declared a cash dividend of $0.15 per share, consisting of a base and variable dividend of $0.075 each, payable on November 1, 2024 [5] - Year-to-date, shares of Freeport-McMoRan have increased by 22.29% [5]