Top two U.S. copper stocks to buy as Rio Tinto promotes copper chief
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Rio Tinto Ltd (LON: RIO) is in the green at writing after naming Bold Baatar its new chief commercial officer.
Rio Tinto is committed to expanding in copper
Baatar has been with the mining giant since 2013 – at present serving as its chief of copper operations. He was a key executive behind the company’s underground expansion of Oyu Tolgoi.
Alf Barrios – the current COO of Rio Tinto will hand over the role to Bold Baatar in September.
Baatar will take on notable projects in the new position, including an over $6.0 billion investment in an iron ore of the Republic of Guinea.
Watch here: https://www.youtube.com/embed/N1nocvOP38o?feature=oembedThe announcement arrives as $RIO continues to expand in copper – a key component of the global commitment to renewable energy and electric vehicles. Rio stock is still down over 10% year-to-date.
Strategas analyst reveals top two U.S. copper stocks
But Rio Tinto isn’t the best stock to play the strength in copper prices, as per Chris Verrone – a Strategas analyst.
He instead sees Freeport-McMoran Inc and Southern Copper Corp as the top two U.S. copper stocks to buy in April. Verrone recommends investors to “add to” these stocks on any “near-term/overbought pullbacks” in his research note this morning.
Note that $FCX stands to benefit from a special mining license or “IUPK” from Indonesia as well.
The Phoenix-headquartered miner is scheduled to report its financial results for the first quarter on April 23rd. Consensus is for it to earn 31 cents a share – down from 52 cents per share a year ago.
The post Top two U.S. copper stocks to buy as Rio Tinto promotes copper chief appeared first on Invezz
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