- Copper futures are up more than 22 per cent in the past six months
- Lundin Mining recently declared a regular quarterly dividend
- Since 2017, Ero Copper has added $26 per share
- Invanhoe Mines is up more than 50 per cent on the year
Copper is up more than 22 per cent in the past six months. As we start the second half of year, we look at three copper companies that are flying high, riding the metal’s momentum in 2024.
Here are three TSX copper companies adding almost or more than 50 percent to their share prices on the year.
Lundin Mining Corp. (TSX:LUN) is up almost 50 per cent on the year. The company has operations and projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States, primarily producing copper, zinc, gold and nickel. The company owns a 70 per cent interest in the the Caserones mine in Chile, and on May 17 shares hit their highest price of C$17.80. The company also gave investors a quarterly dividend of C$0.09 per share in May.
At the close on Friday, company shares were trading at C$14.08 and have seen an overall gain of almost 1,300 per cent since inception.
Vancouver-based Ero Copper Corp. (TSX:ERO) is up more than 48 per cent year-to-date, adding more than C$10.00 to its share price. Eros is a clean copper producer with several operations in Brazil. The company’s primary asset is a 99.6 per cent interest in copper mining company, Mineração Caraíba S.A., and it also owns 100 per cent of Caraíba Operations.
Since 2017, shares have an overall gain of 500 per cent, adding more than C$26 per share.
Company shares were last trading at around C$26.78 on Friday.
Ivanhoe Mines Ltd. (TSX:IVN), is up more than 50 per cent on the year. The company’s portfolio has exposure to copper, platinum, zinc and other essential metals linked to the global transition to clean energy and a low carbon economy.
The company has a 40 per cent interest in The Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC). The complex ’s 2023 copper production showed an 18 per cent year-over-year increase. The company also has a 64 per cent ownership in the Platreef PGM-Nickel mine in South Africa and a 62 per cent interest in the Kipushi Mine in the DRC where construction of the concentration faculty is nearing completion.
Adding to its DRC exploration, Ivanhoe is targeting copper mineralization through a regional exploration and drilling program on its western foreland with its 17 exploration licences covering approximately 2407 square kilometres. Ivanhoe was also granted more than 22,000 square km of greenfield prospecting rights for exploration in Angola.
Ivanhoe Mines company shares were last trading at C$18.00.
At the close Friday, copper was trading at US$4.11 per pound.
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