Other Metals/Minerals Surge: $FCX, $BHP, $SCCO, $CMP, $GSM Lead the Way with a +5.66% Weekly Gain!
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Tickers of this group:
$FCX - $HBM - $BHP - $VALE - $SCCO - $CCJ - $CMP - $GSM - $MTRN - $RIO - $UEC - $ERO - $LEU - $UUUU - $TECK - $NEXA - $LAC - $PLL - $NXE - $EU - $NB - $MP - $LGO - $SKE - $SLI - $SGML - $MTAL - $IPX - $IE - $IONR - $USGO - $LZM
Spotlight on Other Metals/Minerals: A Surging Sector
📈 The Other Metals/Minerals group has witnessed a promising gain of +5.66% within a week. This analysis dives into significant market movements and sectoral shifts. Let's delve into what's driving this upswing.
Industry Description
The Other Metals/Minerals sector encompasses companies that focus on the exploration, mining, and extraction of various metals, including copper, diamonds, nickel, cobalt ore, lead, zinc, and uranium. Major players like $BHP, $RIO, and $SCCO dominate the market, positioning the sector for substantial growth.
Market Cap
Given the significant uptick, the market capitalization of companies within this sector has risen correspondingly. Large-cap players such as $BHP and $RIO have contributed immensely to this surge, bolstering the sector's overall value.
High and Low Price Notable News
Over the past month, many stocks in this sector have seen notable price changes. Stocks like $BHP and $SCCO, in particular, have shown signs of breaking through resistance levels, hinting at potential uptrends in the future.
Volume
The positive volume ratio of 1.31 to 1 during the last month indicates a dominant buying sentiment in the sector. This is supported by six stocks in the group confirming the positive outlook based on the Volume indicator with an impressive average odds of 86%.
Fundamental Analysis Ratings
With a Buy rating and a positive outlook based on the MA200MA50 Indicator, the sector appears robust. Tickeron forecasts a further increase by over 4.00% within the next month, with a high likelihood of 71%.
$BHP - Leading the Pack
- Momentum Indicator: As of September 08, 2023, $BHP's Momentum Indicator moved above 0, suggesting a potential upward shift. Past data shows in 56 of 77 similar instances, the stock rose further.
- Stock Forecast: The stock price crossed the resistance line at $54.53 and is now navigating between $67.51 resistance and $54.53 support lines. A 6% uptrend was observed in the past month.
$SCCO - Trending Upward
- 50-day Moving Average: $SCCO surpassed its 50-day Moving Average on September 14, 2023, indicating an upward trend shift. Past occurrences suggest an 80% chance of continued growth.
- Stock Forecast: Current price lies at $79.77, having crossed the resistance line at $80.45. Despite a slight downtrend over the past month, the stock has shown a 1% uptrend growth in the past week.
$CMP - From Oversold to Potential Growth
- Stochastic Oscillator: On September 11, 2023, the indicator for $CMP moved out of the oversold territory, signaling a potential bullish trend. Past instances hint at an 80% chance of a positive move.
- Stock Forecast: With a current price at $28.95, the stock is trading below its lowest support line, $39.82. Despite a downtrend in the past month, the past week saw a 0.49% uptrend.
Ticker Descriptions
- $GSM: A significant player, $GSM's 10-day Moving Average surpassed its 50-day counterpart on August 16, 2023. History suggests an 89% chance of upward trend continuation.
- $ERO: With its price expected to rise after breaking its lower Bollinger Band on September 07, 2023, $ERO holds an 87% chance of a positive trend.
- $LAC: The MACD for $LAC turned positive on August 28, 2023, suggesting a potential 85% chance of continued upward trend.
- $PLL: $PLL's RSI Oscillator shows signs of an uptrend, with an 85% likelihood of positive growth.
- $MP: The RSI Indicator for $MP suggests a shift to an upward trend with a 90% chance of growth.
- $SLI: Moving out of oversold territory on September 13, 2023, $SLI's RSI Indicator holds a 90% chance of a positive trend.
- $SGML: Experiencing a +3.17% Uptrend for three consecutive days as of September 15, 2023, $SGML's past data indicates a 90% chance of continued growth.
- $IONR: As the Stochastic Indicator recovers, past data suggests a 90% chance of positive movement for $IONR.
The Other Metals/Minerals sector is teeming with potential, as demonstrated by the movements of its significant tickers. While the market is ever-fluctuating, current trends suggest a prosperous horizon for the sector. Always ensure to stay updated and make informed decisions!
Momentum Indicator for FCX turns negative, indicating new downward trend
FCX saw its Momentum Indicator move below the 0 level on September 18, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 81 similar instances where the indicator turned negative. In of the 81 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for FCX turned negative on September 19, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 50 similar instances when the indicator turned negative. In of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at .
FCX moved below its 50-day moving average on September 06, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for FCX crossed bearishly below the 50-day moving average on August 21, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FCX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for FCX entered a downward trend on September 06, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where FCX advanced for three days, in of 303 cases, the price rose further within the following month. The odds of a continued upward trend are .
FCX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.287) is normal, around the industry mean (6.456). P/E Ratio (25.253) is within average values for comparable stocks, (97.855). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (3.103). Dividend Yield (0.016) settles around the average of (0.061) among similar stocks. P/S Ratio (2.446) is also within normal values, averaging (225.893).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. FCX’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a copper, gold and molybdenum mining company
Industry OtherMetalsMinerals
FCX and
Correlation & Price change
A.I.dvisor indicates that over the last year, FCX has been closely correlated with SCCO. These tickers have moved in lockstep 84% of the time. This A.I.-generated data suggests there is a high statistical probability that if FCX jumps, then SCCO could also see price increases.
| Ticker / NAME | Correlation To FCX | 1D Price Change % | ||
|---|---|---|---|---|
| FCX | 100% | +0.13% | ||
| SCCO - FCX | 84% Closely correlated | -0.31% | ||
| BHP - FCX | 80% Closely correlated | -1.11% | ||
| RIO - FCX | 79% Closely correlated | -1.56% | ||
| HBM - FCX | 76% Closely correlated | -0.85% | ||
| TECK - FCX | 70% Closely correlated | +2.58% | ||
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