Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Commodities

<ul>
<li>Copper retreated by more than 5% due to China's weak print on TSF. The plenum's lack of concrete stimulus measures also did not help matters. </li>
<li>Check out our initiation, <a href="https://www.smartkarma.com/insights/copper-primer-what-we-like-about-copper-and-what-to-play" target="_blank" data-smartkarma-citation="insights:141017" rel="noopener">Copper Primer: What We Like About Copper And What to Play</a>, where we provide our long-term bullish outlook on copper. </li>
<li>Also, see our initiation, <a href="https://www.smartkarma.com/insights/southern-copper-in-a-league-of-its-own" target="_blank" data-smartkarma-citation="insights:139839" rel="noopener">Southern Copper: In a League of Its Own</a>. The company reported a stellar Q2 FY24, beating the street estimates by 20%.</li>
</ul>


Copper retreated by more than 5% due to China's weak print on TSF. The plenum's lack of concrete stimulus measures also did not help matters. 
Check out our initiation, Copper Primer: What We Like About Copper And What to Play, where we provide our long-term bullish outlook on copper. 
Also, see our initiation, Southern Copper: In a League of Its Own. The company reported a stellar Q2 FY24, beating the street estimates by 20%.


Copper Tracker July 22nd, 2024: Physical/​Equity Screens And Trades, Copper Weak

<ul>
<li>With increasing market volatility, base metals continue their rocky weekly performance. Copper was up marginally maintaining a level over 9000 USD/ton.</li>
<li>Copper inventories declined at the exchanges, with ~428k tons combined at Comex, LME, and Shanghai, down almost 9% in the last two weeks.</li>
<li>Read our recent initiation on <a href="https://www.smartkarma.com/entities/antofagasta-plc" target="_blank" data-smartkarma-citation="entities:21814:1" rel="noopener">Antofagasta PLC (ANTO LN)</a>, contrasting it with <a href="https://www.smartkarma.com/entities/southern-copper-corp" target="_blank" data-smartkarma-citation="entities:16279:1" rel="noopener">Southern Copper (SCCO US)</a> titled <a href="https://www.smartkarma.com/insights/antofagasta-anto-ln-an-initiation-on-a-mid-sized-copper-miner" target="_blank" data-smartkarma-citation="insights:158671" rel="noopener">Antofagasta (ANTO LN): An Initiation on a Mid-Sized Copper Miner</a>. </li>
</ul>


With increasing market volatility, base metals continue their rocky weekly performance. Copper was up marginally maintaining a level over 9000 USD/ton.
Copper inventories declined at the exchanges, with ~428k tons combined at Comex, LME, and Shanghai, down almost 9% in the last two weeks.
Read our recent initiation on Antofagasta PLC (ANTO LN), contrasting it with Southern Copper (SCCO US) titled Antofagasta (ANTO LN): An Initiation on a Mid-Sized Copper Miner. 


Copper Tracker Sep 23rd, 2024: Markets Volatile, Accumulate Good Copper Names On Weakness

<ul>
<li>Copper rebounded last week, rising 4% on the LME and 6% on the COMEX, led by improved sentiment but in line with most of its commodity complex peers.</li>
<li>Check out our initiation, <a href="https://www.smartkarma.com/insights/copper-primer-what-we-like-about-copper-and-what-to-play" target="_blank" data-smartkarma-citation="insights:141017" rel="noopener">Copper Primer: What We Like About Copper and What to Play</a>, and our equity initiation, <a href="https://www.smartkarma.com/insights/southern-copper-in-a-league-of-its-own" target="_blank" data-smartkarma-citation="insights:139839" rel="noopener">Southern Copper: In a League of Its Own</a>. </li>
<li>We provide updates on the long copper-short gold trade we explored last week and the iron condor in <a href="https://www.smartkarma.com/entities/freeport-mcmoran-inc" target="_blank" data-smartkarma-citation="entities:12491:1" rel="noopener">Freeport Mcmoran (FCX US)</a> </li>
</ul>


Copper rebounded last week, rising 4% on the LME and 6% on the COMEX, led by improved sentiment but in line with most of its commodity complex peers.
Check out our initiation, Copper Primer: What We Like About Copper and What to Play, and our equity initiation, Southern Copper: In a League of Its Own. 
We provide updates on the long copper-short gold trade we explored last week and the iron condor in Freeport Mcmoran (FCX US) 


Copper Tracker July 2024: Physical/​Equity Screens And Trades

<ul>
<li>Copper continued its slide on concerns about inventory and the commencement of new projects and delivered a -9% return for the month. </li>
<li>Check out our initiation, <a href="https://www.smartkarma.com/insights/copper-primer-what-we-like-about-copper-and-what-to-play" target="_blank" data-smartkarma-citation="insights:141017" rel="noopener">Copper Primer: What We Like About Copper And What to Play</a>, and equity initiation <a href="https://www.smartkarma.com/insights/southern-copper-in-a-league-of-its-own" target="_blank" data-smartkarma-citation="insights:139839" rel="noopener">Southern Copper: In a League of Its Own</a> </li>
<li>We like the long copper-short gold trade and explore iron condors in the copper <a href="https://www.smartkarma.com/entities/freeport-mcmoran-inc" target="_blank" data-smartkarma-citation="entities:12491:1" rel="noopener">Freeport Mcmoran (FCX US)</a> . </li>
</ul>


Copper continued its slide on concerns about inventory and the commencement of new projects and delivered a -9% return for the month. 
Check out our initiation, Copper Primer: What We Like About Copper And What to Play, and equity initiation Southern Copper: In a League of Its Own 
We like the long copper-short gold trade and explore iron condors in the copper Freeport Mcmoran (FCX US) . 


Copper Tracker June 2024: Physical/Equity Screens And Trades For July

<ul>
<li>
<a href="https://www.smartkarma.com/entities/southern-copper-corp" target="_blank" data-smartkarma-citation="entities:16279:1" rel="noopener">Southern Copper (SCCO US)</a> in the equity space is the best way to play bullish copper long-term with its long-term (10-year) ROCE of &gt;22% </li>
<li>With low-cost production assets in Peru and Mexico, the company has managed EBITDA margins of&gt; 39% across the cycle (last 15 years) and averaging 50%.</li>
<li>A 100% payout results in a dividend yield of 3.5%. We believe there is a price for everything, and in the event of a 20% correction, it would be attractive.</li>
</ul>



Southern Copper (SCCO US) in the equity space is the best way to play bullish copper long-term with its long-term (10-year) ROCE of &gt;22% 
With low-cost production assets in Peru and Mexico, the company has managed EBITDA margins of&gt; 39% across the cycle (last 15 years) and averaging 50%.
A 100% payout results in a dividend yield of 3.5%. We believe there is a price for everything, and in the event of a 20% correction, it would be attractive.


United States

Copper is a chemical element with symbol Cu (from Latin: cuprum) and atomic number 29. It is a soft, malleable and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a reddish-orange color. It is used as a conductor of heat and electricity, as a building material and as a constituent of various metal alloys, such as Sterling silver used in jewelry, cupronickel used to make marine hardware and coins and constantan used in strain gauges and thermocouples for temperature measurement.

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Copper (COPPER COMDTY)

Copper Tracker July 22nd, 2024: Physical/Equity Screens And Trades, Copper Weak

This brief insight summarizes Copper's performance and equities on our screens. We highlight our research and trades to explore.

Sameer Taneja

Copper Tracker Sep 23rd, 2024: Markets Volatile, Accumulate Good Copper Names On Weakness

Copper has managed to sustain a level of over 9000 USD/ton. We analyze our top picks in the copper equity space as well as fundamental drivers of...

Sameer Taneja

Copper Tracker July 2024: Physical/Equity Screens And Trades

This brief insight summarizes Copper's performance and equities on our screens. We highlight our research and trades to explore for July

Sameer Taneja

Copper Tracker June 2024: Physical/Equity Screens And Trades For July

This brief insight summarizes Copper's performance and equities on our screens. We highlight our research and trades to explore for July.

Sameer Taneja

Southern Copper: In a League of Its Own

We initiate on Southern Copper (SCCO US), a high-quality copper play with assets in Peru and Mexico. Its long term ROCE >22% makes its a very...

Sameer Taneja

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Copper Tracker July 22nd, 2024: Physical/​Equity Screens And Trades, Copper Weak

This brief insight summarizes Copper's performance and equities on our screens. We highlight our research and trades to explore.

Sameer Taneja

Copper Tracker Sep 23rd, 2024: Markets Volatile, Accumulate Good Copper Names On Weakness

Copper has managed to sustain a level of over 9000 USD/ton. We analyze our top picks in the copper equity space as well as fundamental drivers of...

Sameer Taneja

Copper Tracker July 2024: Physical/​Equity Screens And Trades

This brief insight summarizes Copper's performance and equities on our screens. We highlight our research and trades to explore for July

Sameer Taneja

Copper Tracker June 2024: Physical/Equity Screens And Trades For July

This brief insight summarizes Copper's performance and equities on our screens. We highlight our research and trades to explore for July.

Sameer Taneja

Southern Copper: In a League of Its Own

We initiate on Southern Copper (SCCO US), a high-quality copper play with assets in Peru and Mexico. Its long term ROCE >22% makes its a very...

Sameer Taneja

Copper Tracker July 22nd, 2024: Physical/Equity Screens And Trades, Copper Weak

Copper Tracker July 2024: Physical/Equity Screens And Trades