Now a buy for copper gains

Article Excerpt

GLOBAL X COPPER MINERS ETF, $27.79, is a hold. The ETF (New York symbol COPX; buy or sell through brokers; www.globalxfunds.com) lets you track the Solactive Global Copper Miners Index, with 30 global mining and exploration firms. It started up in April 2010. Canadian firms make up 34.9% of the ETF’s holdings. They also include companies based in the U.S. (11.6%), the U.K. (11.3%), China (8.6%) and Australia (7.1%). The fund charges investors an acceptable 0.65% MER. The ETF’s top holdings include First Quantum, 5.5%; Vedanta Ltd., 5.3%; Zijin Mining, 5.1%; Freeport-McMoRan, 5.1%; Glencore plc, 5.1%; Lundin Mining, 5.0%; Grupo Mexico, 4.9%; Polska Miedz SA, 4.9%; Ivanhoe Mines, 4.8%; and Southern Copper, 4.8%. Investors benefit from copper’s recent jump to $3.48 U.S. a pound. That rise reflects ongoing stimulus plans by governments around the world and optimism about a COVID-19 vaccine. As well, infrastructure and manufacturing in China, responsible for more than half the world’s copper consumption, is rapidly recovering following the COVID-19 slump. This fund is now…