Latest news for Zijin Mining Gr Co (OTC:ZIJMY) Stock

Zijin Mining Gr Co

Zijin Mining Group Co Ltd is focusing on the exploration and development of gold and copper and other metal mineral resources. The company's operating segment includes Gold bullion; Processed, refined, and trading gold; Gold concentrates; Electrolytic copper & electrodeposited copper; Refined copper; Copper concentrates; Other concentrates; Zinc bullion, Environmental protection, trading, and others. It generates maximum revenue from the Processed, refined & trading gold segment. The Processed, refined, and trading gold segment is engaged in the production of gold bullion by processing gold concentrates produced by the group or purchased from external suppliers and gold bullion in the business of physical gold trading. Geographically, the majority is derived from Mainland China.

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Copper investment landscape ignited by bullish predictions from Pierre Andurand. Demand to double, supply constraints, COPX ETF outperforming.

Copper To $40,000 A Tonne, Says Hedge Fund Titan Pierre Andurand: What ETF Investors Should Watch

ZIJIN MNG GRP UNSP/ADR H by Zijin Mining Group Company Ltd.

Zijin Mining Group Co Ltd

The investment landscape for copper has been ignited by recent bullish predictions, particularly from prominent hedge fund <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37985516/not-just-nvidia-ai-is-also-fueling-global-copper-demand-analyst-reveals-3-top-stock">manager Pierre Andurand</a>. 



Andurand's <a href="https://www.ft.com/content/725234a6-9e6f-4a4a-9406-2bda667ca511">forecast</a> of copper prices reaching $40,000 per tonne underscored a compelling investment opportunity in copper miner stocks and the Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>).



Here are the drivers behind his optimistic outlook for copper. Benzinga will also touch upon the performance and holdings of the Global X Copper Miners ETF and examine technical indicators to present a comprehensive case for investors.



<h1 class="wp-block-heading">Copper Demand-Supply Dynamics</h1>



Copper, a critical metal in the energy transition, is poised for significant demand growth. Andurand&#8217;s prediction is based on the increasing electrification of the world, including:



<ul>
<li>electric vehicles</li>



<li>renewable energy infrastructure</li>



<li>military applications</li>



<li>data centers</li>
</ul>



As these sectors expand, the demand for copper is expected to double, outpacing supply, which traditionally takes about 15 years to develop new mines.



<h1 class="wp-block-heading">Pierre Andurand's Bullish Outlook For Copper</h1>



Andurand, known for his success in commodities trading, shifted his focus to copper after experiencing setbacks in the oil market.



His Commodities Discretionary Enhanced fund rebounded from a 55% loss last year and is now up 83% year-to-date, largely due to diversified commodity investments.



He believes current supply constraints and robust demand will propel copper prices to unprecedented heights.



<h1 class="wp-block-heading">COPX ETF Overview</h1>



The Global X Copper Miners ETF (COPX) offers a targeted investment in copper mining companies. With an expense ratio of 0.65%, the ETF has shown impressive returns:



<ul>
<li>3 Month Return: 32.70%</li>



<li>YTD Return: 27.36%</li>



<li>1 Year Return: 39.32%</li>
</ul>



<h1 class="wp-block-heading">Key Holdings</h1>



Global X Copper Miners ETF's portfolio includes leading copper miners, reflecting a diversified exposure to the industry (Company name, U.S.-listed ticker, allocation%):



<ol>
<li>First Quantum Minerals Ltd. (OTCPK:FQVLF) &#8211; 5.31%</li>



<li>KGHM Polska Miedz S.A. (OTCPK: KGHPF) &#8211; 5.30%</li>



<li>Boliden AB (OTCPK:BDNNY) (OTCPK: BLIDF) &#8211; 4.82%</li>



<li>Lundin Mining Corp. (OTCPK: LUNMF) &#8211; 4.72%</li>



<li>Teck Resources Limited Class B (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>) &#8211; 4.69%</li>



<li>BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) &#8211; 4.64%</li>



<li>Glencore plc (OTCPK: GLCNF) (OTCPK: GLNCY) &#8211; 4.60%</li>



<li>Zijin Mining Group Co., Ltd. Class H (OTCPK: ZIJMF) (OTCPK: ZIJMY) &#8211; 4.58%</li>



<li>Antofagasta plc (OTCPK: ANFGF) &#8211; 4.54%</li>



<li>Freeport-McMoRan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) &#8211; 4.51%</li>
</ol>



Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38292100/freeport-mcmoran-vs-teck-resources-which-copper-stock-has-more-upside">Freeport-McMoRan Vs. Teck Resources — Which Copper Stock Has More Upside?</a>



<h1 class="wp-block-heading">Charts Indicate Bullish Outlook For Global X Copper Miners ETF</h1>



The technical indicators for Global X Copper Miners ETF reveal a moderately bullish trend, with buying pressure suggesting a positive outlook.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="625" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/27075654/Screenshot-2024-05-27-at-3.57.03-PM.png" alt="" class="wp-image-357042" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/27075654/Screenshot-2024-05-27-at-3.57.03-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/27075654/Screenshot-2024-05-27-at-3.57.03-PM-300x218.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></figure>



<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart: Benzinga Pro</a>



The Global X Copper Miners ETF share price is $48.66 while the 8-day simple moving average (SMA) is $49.98, which signals short-term bearishness.



However, the 20-day SMA at $48.35 and the 50-day SMA at $45.74 both indicate a bullish momentum. The 200-day SMA stands at $38.34, further reinforcing the bullish signal as the stock price remains well above it.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="625" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/27075708/Screenshot-2024-05-27-at-3.56.13-PM.png" alt="" class="wp-image-357043" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/27075708/Screenshot-2024-05-27-at-3.56.13-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/27075708/Screenshot-2024-05-27-at-3.56.13-PM-300x218.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></figure>



<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart: Benzinga Pro</a>



The Moving Average Convergence Divergence (MACD) indicator is 1.21, suggesting bullishness, while the Relative Strength Index (RSI) at 53.65 indicates that the ETF is neither oversold nor overbought. 



Additionally, the Bollinger Bands support bullish signals as the ETF is trading within the upper range.



Given the bullish forecast for copper prices, driven by robust demand and constrained supply, copper miner stocks and the COPX ETF represent a compelling investment opportunity. 



Andurand's expertise and confidence in the market, coupled with strong ETF performance and supportive technical indicators, suggest that investors could consider taking exposure to this sector. 



As the world continues to electrify and transition towards renewable energy, the demand for copper is set to soar, making now an opportune time to invest in copper miners through Global X Copper Miners ETF.



Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37985516/not-just-nvidia-ai-is-also-fueling-global-copper-demand-analyst-reveals-3-top-stock">Not Just Nvidia, AI Is Also Fueling Global Copper Demand: Analyst Reveals 3 Top Stock Picks</a>



Photo: Shutterstock

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