3 Commodity Stocks To Consider For Inflation

As inflation heats up, the stocks of some commodity-based companies can move higher. These companies hold a large part of their assets in commodities, so as their prices move higher, the companies become more valuable.

They include Exxon Mobil Corporation XOM, Southern Copper Corporation SCCO, and Newmont Corporation NEM.

See Also: 2 Commodity ETFs For Inflation

Exxon benefits from higher oil prices. The stock has hit resistance at the $63.50 level and it could be on the verge of a breakout.

Southern Copper benefits from higher copper prices. Shares have dropped to support around the $67 level and there’s a chance they rebound.

Newmont is a gold miner. As the price of gold increases, so does its value. The shares are close to the $68.50 level and there’s a chance they find support and rally.