Top metal and mining stocks to explore in 2022

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Top metal and mining stocks to explore in 2022

 Top metal and mining stocks to explore in 2022
Image source: Mark Agnor,Shutterstock

Highlights

  • Freeport-McMoRan, Inc’s (NYSE: FCX) revenue rose 57% YoY in Q3, FY21.

  • The Nucor Corporation (NYSE: NUE) stock soared over 117% YTD.

  • The Alcoa Corporation (NYSE: AA) stock jumped around 106% YTD.

The metal and mining companies are engaged in the exploration, extraction, and processing of minerals. The metal and mining companies are an integral part of the global economy. These stocks are considered cyclical as their market movements are guided by the country’s economic health.

Here we explore five metal and mining stocks that might be worth exploring in 2022.

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Freeport-McMoRan, Inc (NYSE: FCX)

Freeport-McMoRan is based in Phoenix, Arizona, and owns sites with proven reserves of copper, gold, and molybdenum.

Its shares traded at US$36.77 at 10:41 am ET on November 29, down 1.26% from their previous close. Its stock value increased by 37.21% YTD. It has a market cap of US$54.37 billion, a P/E ratio of 14.08, and a forward P/E one year of 14.08. Its EPS is US$2.63.

Top metal and mining stocks to explore in 2022

The 52-week highest and lowest stock prices were US$46.10 and US$23.02, respectively. Its trading volume was 21,122,390 on November 26.

The company reported a revenue of US$6.08 billion in Q3, FY21, compared to US$3.85 billion in the same quarter of the previous year.

Its net income attributable to common stock came in at US$1.39 billion, or US$0.94 per diluted share, as compared to US$329 million, or US$0.22 per diluted share in Q3, FY20.

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Metal and Mining Stocks: FCX, NUE, CLF, AA, GROY

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Nucor Corporation (NYSE: NUE)

Nucor Corporation is a steel production company based in Charlotte, North Carolina. It is one of the leading steel producers and recyclers of scrap in North America.

Its stock was priced at US$114.045 at 10:46 am ET on November 29, up 0.06% from its previous closing price. The NUE stock rose 117.06% YTD.

Its market cap is US$32.68 billion, the P/E ratio is 6.84, and the forward P/E one year is 4.99. Its EPS is US$16.72. The stock saw the highest price of US$128.81 and the lowest price of US$47.94 in the last 52 weeks. Its share volume on November 26 was 2,825,869.

The net sales were US$10.31 billion in Q3, FY21, compared to US$4.92 billion a year ago. Its net earnings came in at US$2.22 billion, versus an income of US$222.63 million in Q3, FY20.

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Cleveland Cliffs Inc. (NYSE: CLF)

Cleveland-Cliffs is a mining firm based in Cleveland, Ohio. It specializes in iron ore and steel production.

Its shares traded at US$21.08 at 10:51 am ET on November 29, down 3.48% from their previous closing price. The stock price soared 51.46% YTD.

It has a market cap of US$10.51 billion, a P/E ratio of 5.43, and a forward P/E one year of 3.44. Its EPS is US$3.87. The 52-week highest and lowest stock prices were US$26.51 and US$10.88, respectively. Its trading volume was 13,058,190 on November 26.

The revenue was US$6 billion in Q3, FY21, compared to US$1.6 billion in the third quarter of the previous year. It reported a net income of US$1.3 billion, as compared to US$2 million in Q3, FY20.

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Alcoa Corporation (NYSE: AA)

Alcoa is an aluminum company based in Pittsburgh, Pennsylvania, and has operations in different countries.

The stock was priced at US$48.29 at 10:56 am ET on November 29, up 0.71% from its previous closing price. The AA stock surged 106.24% YTD. Its market cap is US$8.99 billion, the P/E ratio is 11.18, and the forward P/E one year is 7.18. Its EPS is US$4.30.

The stock saw the highest price of US$57.57 and the lowest price of US$17.30 in the last 52 weeks. Its share volume on November 26 was 7,291,156.

The revenue came in at US$3.10 billion in Q3, FY21, compared to US$2.36 billion in the same quarter of the previous year. It reported a record net income of US$337 million, or US$1.76 per share, against a loss of US$49 million, or a loss of US$0.26 per diluted share in Q3, FY20.

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Metal and mining stocks that gave a return of over 37% YTD

Source: Pixabay

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Gold Royalty Corp. (AMEX: GROY)

Gold Royalty is a precious metal-focused royalty and streaming company. It provides financing services in the metal and mining sector. Gold Royalty is based in Vancouver, Canada.

Its shares traded at US$5.05 at 11:03 am ET on November 29, down 0.98% from their previous close. The stock jumped 42.46% YTD.

It has a market cap of US$671.67 million, and a forward P/E one year of -102.00. The stock saw the highest price of US$7.08 and the lowest price of US$3.39 in the last 52 weeks. Its trading volume was 426,144 on November 26.

For the three months ended on June 30, 2021, the company's operating loss came in at US$3.06 million. Its net loss for the period came in at US$3.03 million.

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Bottomline

The Covid-19 pandemic disrupted the operations of the metal and mining companies for most of 2020. However, the sector has witnessed rapid improvement over the past few months.

The Dow Jones US Industrial Metals & Mining Index, a key gauge for the sectoral performance, gained 62.62% YTD while increasing 12.08% QTD, demonstrating the significant growth of the metal and mining companies this year.

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