3 Commodity Stocks To Consider For Inflation

Benzinga2021-06-15

As inflation heats up, the stocks of some commodity-based companies can move higher. These companies hold a large part of their assets in commodities, so as their prices move higher, the companies become more valuable.

They include Exxon Mobil Corporation(NYSE:XOM),Southern Copper Corporation(NYSE:SCCO), and Newmont Corporation(NYSE:NEM).

Exxon benefits from higher oil prices. The stock has hit resistance at the $63.50 level and it could be on the verge of a breakout.

Southern Copper benefits from higher copper prices. Shares have dropped to support around the $67 level and there’s a chance they rebound.

Newmont is a gold miner. As the price of gold increases, so does its value. The shares are close to the $68.50 level and there’s a chance they find support and rally.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
29