(Source: PRNewswire)
MONTREAL, June 8 /PRNewswire/ -- Last Friday the market saw broad based gains in commodity stocks. Investors seem to be reacting to steady and improving demand from China and India. The effect of the bailout package in the US is keeping these stocks on investor's radars. The companies in the commodities sector are showing buy signals on a fundamental and technical basis.
Alcoa Inc. (http://www.alcoa.com/global/en/home.asp). AA stock has performed well since early March by gaining 100%. The company can directly link the renewed interest from demand from China for their product. The stock which had been a victim of hedge fund liquidation is still at a level which could be a bargain if the recovery if the US gains solid footing.
Freeport MacMoran Copper & Gold Inc. (http://www.fcx.com/). Freeport has also been on a strong performer in the past 60 days. The company is broadly diversified and has strong performance from copper and gold holdings. Demand from China is good for their copper holdings and the gold holdings provide a good hedge for investors who are betting on a falling USD. FCX is a large institutional holding and a continued recovery could mean further gains for the stock price.
BHP Billiton Limited. (http://bhpbilliton.com/bb/home.jsp) is a stalwart of the commodities world with worldwide holdings which are quite representative of global demand for their products. The company is in talks with Rio Tinto about JV undertakings and is projected to benefit from this relationship to the tune of several billion dollars. We expect BHP to continue to be a leader in their sector and be the barometer for how fast the world recovers from this economic crisis.
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Today's hot commodity stock alerts include: Eldorado Gold Corp. , Golden Star Resources Ltd. and NovaGold Resources Inc.
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