Aggregated price index with volume information
Summary:
- Precious Metals stocks up 3.2% on average while median return up 2.6% in a day
- Precious Metals stocks up 2.2% on average while median return up 1.3% in a week
- Precious Metals stocks up 17.7% on average while median return up 16.1% in a month
- When average return is significantly different from median return, this implies an asymmetry - composite return is driven by some outliners.
Aggregated price index (close) is based on equal weighted constituencies returns. Average short volume and average total volumes are averaged across all volume data among constituencies.
- 1M winners are : Winners for past month are $MAG 44.0%, $CDE 42.6%, $FSM 37.8%, $PAAS 36.3%, $GMGI 34.3%
- 1M losers are : Losers for past month are
- 1W winners are : Winners for past week are $GMGI 18.8%, $NEM 12.6%, $SILV 12.4%, $EXK 10.3%, $CDE 8.6%
- 1W losers are : Losers for past week are $DRD -2.7%, $AU -3.9%, $HL -4.4%, $NG -5.5%, $SBSW -8.8%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 42.1%, for the past 3 months is 43.3%
In the past month for a 5 days rolling window, the highest corrrelation is 62.8%, the lowest correlation is 7.4%, the latest correlation is 49.3%
When a correlation deviated from the normal level and goes lower or even negative, it indicates some of stocks have deviated from the normal direction of the group. The deviation could reverse if long term level of correlation was at a higher level. It creates trading opportunities and deserves study whether the deviation is idiosyncratic or systematic.
Among pairwise correlation, the highest correlation is 94.4% between AU and HMY
The lowest correlation is -27.8% between AUY and MUX
The deal highlights the strengthening demand for metals such as copper in artificial intelligence and electric vehicles.
The mining company reported first-quarter earnings of 32 cents a share. The consensus call on Wall Street was for 27 cents.
Copper miner Freeport-McMoRan beat Wall Street estimates for first-quarter profit on Tuesday, helped by higher production and easing costs. The mining giant said its quarterly production of copper rose to 1.1 billion pounds from 965 million pounds a year earlier, helped by a 49% jump in output from its Indonesia operations. Freeport-McMoRan said it was working with the Indonesian government, which has put a ban on raw material exports, to obtain approvals to continue shipping copper concentrat...
The mining giant said its quarterly production of copper rose to 1.1 billion pounds from 965 million pounds a year earlier, helped by a 49% jump in output from its Indonesia operations. Freeport-McMoRan said it was working with the Indonesian government, which has put a ban on raw material exports, to obtain approvals to continue shipping copper concentrates and anode slimes. In the reported quarter, the company also benefited from strong prices of gold, which it produces as a byproduct from i...
PHOENIX, April 23, 2024--Freeport-McMoRan Inc. (NYSE: FCX) today announced that it has posted its first-quarter 2024 financial and operating results press release on the Investor Relations page of its website at https://investors.fcx.com/investors/news-releases.
Freeport-McMoRan and Canada's Teck Resources are expected to post a combined adjusted net income of $666.3 million, according to LSEG estimates, compared with $1.43 billion in the year-ago quarter. Copper prices touched a multi-year high last month after major Chinese copper smelters agreed to limit capacity expansion. Despite the late rally, average benchmark copper prices were down about 5% during the quarter compared to last year, weighed by concerns over demand in top-consumer China and fe...
It's been a rough month for most S&P 500 stocks. But some are absolutely thriving. Five stocks, including Newmont, Freeport-McMoRan and United Airlines, are up more than 7% since the S&P 500 peaked this year on March 27, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge.
Key Insights The projected fair value for Freeport-McMoRan is US$55.05 based on 2 Stage Free Cash Flow to Equity...
The case for this industrial metal is only getting more robust with the growth in AI applications.
Southern Copper (SCCO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.