Copper stocks lead the miners higher
Sandfire (SFR) and fellow copper stocks led the miners higher this morning with the largest locally based pure copper play testing $17 in morning trade, extending its gain year-to-date up towards 80%. We touched on SFR in the morning report when ewe discussed the “let it run” thematic which has served investors well in the miners over recent months.
- Copper miners surged higher this morning led by Sandfire (SFR), Capstone Copper (CSC) and even heavyweight BHP Group (BHP) joining the Bull Party.
This remains a “Hot sector” with the path of least resistance clearly on the upside with the underlying copper price still ~5% below its 2024 high – the stocks are running first.
- We remain bullish towards SFR medium term believing global electrification is in its infancy.
MM is long and bullish towards SFR medium and long term.
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