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>Post our  initiations <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> and <a href="https://www.smartkarma.com/insights/teck-resources-teck-us-the-new-purish-copper-play-in-town" target="_blank" data-smartkarma-citation="insights:152051" rel="noopener">Teck Resources (TECK US): The New Purish Copper Play In Town</a>, we initiate 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> </li>
<li>The company provides an excellent channel check for Chile's mining environment. It accounts for 24% of global mined production in the copper market. </li>
<li>We provide a comparison between all the mining players' ROIC and which are the favorable names to play in the space. </li>
</ul>


Post our  initiations Southern Copper: In a League of Its Own and Teck Resources (TECK US): The New Purish Copper Play In Town, we initiate on Antofagasta PLC (ANTO LN) 
The company provides an excellent channel check for Chile's mining environment. It accounts for 24% of global mined production in the copper market. 
We provide a comparison between all the mining players' ROIC and which are the favorable names to play in the space. 


Antofagasta (ANTO LN): An Initiation on a Mid-Sized Copper Miner

<ul>
<li>Concerns about a further slowdown in the Chinese and US economies have led to the commodity complex selling off, but copper remains resilient at the 9000 USD/ton level.</li>
<li>Copper inventories on the exchanges have declined by over 6% in the last three weeks, although they remain elevated at over 470k tons. </li>
<li>We see pockets of value emerging in equities post the sell-off but would only trigger stocks like <a href="https://www.smartkarma.com/entities/southern-copper-corp" target="_blank" rel="noopener">Southern Copper (SCCO US)</a> and <a href="https://www.smartkarma.com/entities/ivanhoe-mines-ltd" target="_blank" data-smartkarma-citation="entities:25338:1" rel="noopener">Ivanhoe Mines (IVN CN)</a> at lower levels. </li>
</ul>


Concerns about a further slowdown in the Chinese and US economies have led to the commodity complex selling off, but copper remains resilient at the 9000 USD/ton level.
Copper inventories on the exchanges have declined by over 6% in the last three weeks, although they remain elevated at over 470k tons. 
We see pockets of value emerging in equities post the sell-off but would only trigger stocks like Southern Copper (SCCO US) and Ivanhoe Mines (IVN CN) at lower levels. 


Copper: Holding Its Ground, Value Emerging In Equities

Breaking Down the Mining News of the Day, Money of Mine

Money of Mine

Breaking Down the Mining News of the Day

An ex-underground miner, an ex-investment banker, and an ex-equity research guy breaking down the mining news of the day. It's a bit of entertainment, information, and occasionally some alpha.

<ul><li>There is a high level of bullish sentiment about copper in the market, with strong interest from companies and analysts.</li><li>Demand projections for copper are driving the need for new deposits, but existing assets are currently meeting demand through resource growth.</li><li>Contrarian views suggest that existing assets are outperforming new discoveries in meeting copper demand, with potential for production delays of up to 15 years for new deposits.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

There is a high level of bullish sentiment about copper in the market, with strong interest from companies and analysts.Demand projections for copper are driving the need for new deposits, but existing assets are currently meeting demand through resource growth.Contrarian views suggest that existing assets are outperforming new discoveries in meeting copper demand, with potential for production delays of up to 15 years for new deposits.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

<ul><li>During last week, the International Energy Association (IEA) as well as OPEC both announced that demand for oil is slowing, revising down previous demand forecasts for the year and beyond.</li><li>The world is seeing a major deceleration in oil demand growth led by China, with inventories set to rise next year even if OPEC+ were to postpone its plans to ease output cuts, the IEA stated.</li><li>Meanwhile, the growth from the US won’t be able to offset the slowdown from China, according to the agency.</li></ul>

During last week, the International Energy Association (IEA) as well as OPEC both announced that demand for oil is slowing, revising down previous demand forecasts for the year and beyond.The world is seeing a major deceleration in oil demand growth led by China, with inventories set to rise next year even if OPEC+ were to postpone its plans to ease output cuts, the IEA stated.Meanwhile, the growth from the US won’t be able to offset the slowdown from China, according to the agency.

Copper Inventories Back at Pre-Covid Levels & Oil Demand Cuts Everywhere

<ul>
<li>With increasing market volatility, base metals continue their rocky weekly performance. Copper is up marginally, taking it past 9000 USD/ton.</li>
<li>Copper inventories continue to pile at the exchanges, with ~500k tons combined at Comex, LME, and Shanghai, up almost 7% in the last two weeks. </li>
<li>We believe accumulating names like <a href="https://www.smartkarma.com/entities/southern-copper-corp" target="_blank" rel="noopener">Southern Copper (SCCO US)</a> and <a href="https://www.smartkarma.com/entities/ivanhoe-mines-ltd" target="_blank" rel="noopener">Ivanhoe Mines (IVN CN)</a> with good long-term fundamentals is a great strategy. </li>
</ul>


With increasing market volatility, base metals continue their rocky weekly performance. Copper is up marginally, taking it past 9000 USD/ton.
Copper inventories continue to pile at the exchanges, with ~500k tons combined at Comex, LME, and Shanghai, up almost 7% in the last two weeks. 
We believe accumulating names like Southern Copper (SCCO US) and Ivanhoe Mines (IVN CN) with good long-term fundamentals is a great strategy. 


Copper Tracker August 19th, 2024: Markets Volatile, Accumulate Good Copper Names On Weakness

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)

Antofagasta (ANTO LN): An Initiation on a Mid-Sized Copper Miner

We compare and contrast ANTO LN (Antofagasta), a mid-size copper producer, with competitors using an ROCE analysis and the impacts of this metric...

Sameer Taneja

Copper: Holding Its Ground, Value Emerging In Equities

Copper equities are in the midst of a sell-off, given recessionary fears and weak China data, but copper is resilient. We highlight the stocks we...

Sameer Taneja

Is There Really a Copper “Shortage”?

- The copper industry is facing increasing demand, leading to a need for more projects to be developed to meet global needs.

Money of Mine

Copper Inventories Back at Pre-Covid Levels & Oil Demand Cuts Everywhere

The world is seeing a major deceleration in oil demand growth led by China, with inventories set to rise next year even if OPEC+ were to postpone...

The Commodity Report

Copper Tracker August 19th, 2024: Markets Volatile, Accumulate Good Copper Names On Weakness

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

Sameer Taneja

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