The six dividend-paying mining stocks to purchase are rising amid record-setting prices worldwide for copper, iron ore, steel and aluminum, according to BoA Global Research. Those prices have jumped more than 20% above their average for the past decade, the investment firm wrote in a recent research note. It seems likely that wider inflationary pressures may not abate “imminently,” BoA wrote in a May 25 research report. In addition, a range of companies have been highlighting plans to protect their margins by raising prices.
“Freeport-McMoRan Inc. (NYSE:FCX) is my favorite of the big players. While sales dipped 1% last year, I wouldn’t be shocked to see them soar 55% in 2021,” said Hilary Kramer. “I recommend having a base inflation-hedge in gold through exchange-traded funds (ETFs),” Carlson continued. Carlson, who also leads the Retirement Watch investment newsletter, told me he likes iShares Gold Trust (NYSE:IAU). Many people like SPDR Gold Shares (NYSE:GLD), Carlson told me. Brazil-based Vale (NYSE:VALE) is one of the world’s largest global mining companies and operates in about 30 countries with a mission of transforming natural resources into “prosperity and sustainable development.” Phoenix, Arizona-based Southern Copper (NYSE:SCCO), one of the largest integrated copper producers in the world with possibly the largest copper reserves, is among of the six dividend-paying mining stocks to buy as inflation hedges. Los Angeles-based Reliance Steel & Aluminum (NYSE:RS), a diversified metal solutions provider and the largest metals service center company in North America, operates a network of about 300 locations in 40 states and 13 countries outside of America.
Source: Dividend Investor
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