Copper Shares Soar as ASX Hits Record High
Copper shares on the ASX have finally received the price support that bulls have been promising for years, after copper set an all-time high in London this week.
The record run has affected different companies in genuinely different ways. For example, Sandfire Resources is the purest copper exposure on the ASX and the clearest winner of the three names discussed here.
Sandfire Resources' shares have risen considerably over the past twelve months. The company had a transformational year, capped by record sales and a much stronger balance sheet. Revenue rose considerably, and underlying earnings before interest, tax, depreciation and amortisation rose even more sharply.
BHP Group, on the other hand, offers a diversified way to buy into the copper thematic. Copper contributed more than half of group underlying earnings for the first time, out of a considerable total group figure.