The prices of metals are hitting new records. Copper prices have soared to an all-time high on the back of supply shocks rattling commodity markets amid the Russia-Ukraine conflict. Copper, a metal used in power cables and wiring, surged as high as 1.5% to US$10,835 a ton, on the London Metal Exchange (LME), topping the previous record high seen in May 2021. Russia is one of the largest producers of copper and its exports account for around 3.3% of global output.
Here are two ASX-listed stocks with over 28% past-year returns:
Copper Mountain Mining Corporation CDI (ASX:C6C)
Copper Mountain Mining Corporation is a mid-tier copper-gold producing company.
The stock of the copper ores company has given a return of over 39% in the past one year. The stock is up nearly 14% year-to-date (YTD).
In Q4 2021, the company sold 19.4 million pounds of copper. For the entire year, copper sales stood at 93 million pounds.
Copper Mountain Mining reported AU$150.8 million in quarterly revenue and AU$637.42 million for the full year. The revenues for both periods were higher than those of the prior corresponding periods.
OZ Minerals Ltd (ASX:OZL)
OZ Minerals is a copper-focused global mining company based in South Australia.
The stock has given a return of nearly 29% in the past one year. However, the stock is down over 4% year-to-date (YTD).
In FY21, OZ Minerals’ net profit more than doubled on higher copper volumes and higher prices. The company’s net profit after tax (NPAT) stood at AU$531 million, up 150%. The company reported a record revenue of AU$2,096 million, up AU$754 million on FY2020.