Copper miners on the ASX include OZ Minerals Limited (ASX: OZL), Sandfire Resources Ltd (ASX: SFR) and Copper Mounting Mining Corporation (ASX: C6C).

Other copper explorers include Chalice Mining Ltd (ASX: CHN), BHP Group Ltd (ASX: BHP) and Hot Chili Ltd (ASX: HCH)

Let's take a look at what's impacting ASX copper shares today.

Improved copper outlook

Morgan Stanley has improved its copper price prediction for the long term, The Australian reported today.

The broker has lifted its long-term copper outlook by 15% to US$7,540, according to the publication. Analysts said:

Our new bottom-up modelling suggests 2030 copper and aluminium demand could be 24 per cent and 26 per cent higher than current levels.

However, with investment in new supply lagging, we see larger deficits ahead, driving stronger medium-term prices.

Sandfire Resources shares are climbing 0.48% today, while BHP shares are lifting 1% and Chalice Mining shares are rising 0.47%.

However, Copper Mounting Mining shares are falling nearly 4%, while Hot Chili shares are down 3%. The OZ Minerals share price is 0.02% in the red at the time of writing.

Copper prices fell nearly 1% to US$7,803 per tonne overnight amid concerns inflation could drive up the US dollar, impacting commodities. WisdomTree analyst Nitesh Shah, in comments cited by mining.com, said:

If the US is raising rates faster than other countries, that will exert upward dollar pressure and all commodities priced in dollars will take a hit

The post What's with ASX copper shares on Thursday? appeared first on The Motley Fool Australia.

Copper shares on the market include Oz Minerals Limited (ASX: OZL),  Sandfire Resources Ltd (ASX: SFR), Copper Mountain Mining Corporation (ASX: C6C) and 29Metals Ltd (ASX: 29M).

So how are ASX copper shares performing today?

What's going on?

Oz Minerals shares have lifted 1% today, while Copper Mountain shares have fallen 3%. Meanwhile, Sandfire Resources shares have dropped 0.62% and 29Metals shares have leapt 0.57%.

The copper price is down 0.4% at the time of writing, trading economics data shows. In the past month, the copper price has lifted 4% but it has fallen nearly 18% in a year.

This follows ASX copper shares exploding yesterday after Oz Minerals rejected a takeover bid from BHP Group Ltd (ASX: BHP). Data out of China also showed copper imports had surged in July compared to the same time last year.

Oz Minerals highlighted it had a unique set of copper and nickel assets, with long-term growth potential. Especially given the world's tendency toward global electrification and decarbonisation.

In today's news Commonwealth Bank of Australia (ASX: CBA) analyst Vivek Dah has warned any rebound in copper could be dependent on one major factor. He said, in comments cited by the Australian Financial Review:

If we're talking about a rebound in copper, it's going to be conditional on China's COVID-zero policy being reversed, and we really only see a possibility of that after the National Congress in November after Xi Jinping is voted in for his next term.

Share price snapshot

The Sandfire share price has shed near 25% in the past year, while the Copper Mountain share price has plummeted nearly 40%. Meanwhile, Oz Minerals shares have leapt 14% and 29Metals has lost 29%.

For comparison, the ASX 200 Materials Index has fallen 10% in the past year.

The post How are ASX copper shares performing after Monday's surge? appeared first on The Motley Fool Australia.

Copper explorers in the green include Copper Mountain Mining Corporation (ASX: C6C), Sandfire Resources Ltd (ASX: SFR), Oz Minerals Limited (ASX: OZL) and 29Metals Ltd (ASX: 29M).

So let's take a look at what could be impacting ASX copper shares today?

What's happening?

Copper Mountain shares are exploding 34% at the time of writing today, while Sandfire shares are rising 6.36%. Meanwhile, Oz Minerals shares are skyrocketing 34% and 29Metals shares are surging 15.51%.

This morning, Oz Minerals highlighted the strength of copper and nickel in an update to the market. The miner knocked back a takeover bid from the BHP Group Ltd (ASX: BHP).

Oz Minerals said there was a "strong long-term outlook" for the copper and nickel market. The company highlighted the growing geological scarcity, global electrification and decarbonisation. Managing director Andrew Cole said:

We have a unique set of copper and nickel assets, all with strong long-term growth potential in quality locations. We are mining minerals that are in strong demand particularly for the global electrification and decarbonisation thematic and we have a long-life Resource and Reserve base.

Meanwhile, copper imports into China jumped 9.3% in July compared to the same time last year, according to a Reuters report published on mining.com. However, the imports were 13.8% down on the previous month.

CRU Group copper analyst He Tianyu said:

There was large-volume buying from Chinese copper users and traders when the market hit lows.

In a research note today, ANZ analysts said China's commodity imports for July showed "signs of improvement in demand". Analysts said:

Copper imports benefitted from lower prices, favourable import parity and depleted inventories.

The post ASX copper shares explode by up to 34% following BHP takeover bid appeared first on The Motley Fool Australia.

The ASX copper share closed on Friday trading for $1.66 and is currently trading for $2.16.

Here's what looks to be piquing ASX investor interest.

What's driving the ASX copper share higher?

With no fresh news out, the Copper Mountain share price looks to be joining in with the broader rally among ASX copper shares.

The Sandfire Resources Ltd (ASX: SFR) share price, for example, is up 8% at the time of writing.

And copper mining focused giant Oz Minerals Limited (ASX: OZL), with a market cap north of $8.5 billion, is soaring an eye-popping 35%.

So, why is the Copper Mountain share price soaring alongside the other ASX copper shares?

The answer lies with Oz Minerals.

This morning Oz Minerals reported that it had rejected a takeover offer from BHP Group Ltd (ASX: BHP).

In an unsolicited, conditional and non-binding indicative proposal, BHP sought to acquire Oz Minerals for $25 per share in cash. Oz Minerals shares closed on Friday trading for $18.92 and have now leapt above BHP's offer price to trade for $25.60.

Oz Minerals' board unanimously rejected BHP's takeover proposal, saying the offer undervalued its shares and wasn't in the best interests of shareholders.

Commenting on the decision to reject the offer, Andrew Cole, Oz Minerals CEO said:

We have a unique set of copper and nickel assets, all with strong long-term growth potential in quality locations. We are mining minerals that are in strong demand particularly for the global electrification and decarbonisation thematic and we have a long-life Resource and Reserve base. We do not consider the proposal from BHP sufficiently recognises these attributes.

While still trading well above pre-COVID levels, copper prices have come down from highs of US$10,674 per tonne in early March this year to US$7,781 today. The red metal dipped as low as US$7,170 in mid-July.

But with a longer-term horizon in mind, the Oz Minerals board clearly believes those prices will come back up. And that's certainly been good news for Copper Mountain shareholders today.

Copper Mountain share price snapshot

Despite today's big bounce, the Copper Mountain share price remains down 42% in 2022, compared to a year-to-date loss of 9% posted by the All Ordinaries Index (ASX: XAO).

The post Why is the Copper Mountain share price surging 30% on Monday? appeared first on The Motley Fool Australia.

Copper explorers in the red today include Sandfire Resources Ltd (ASX: SFR), OZ Minerals Ltd (ASX: OZL) and Austral Resources Australia Ltd (ASX: AR1). Hot Chili Ltd (ASX: HCH) shares and Copper Mountain Mining Corporation (ASX: C6C) are also lower today.

So what is going on with these ASX copper shares?

Copper prices slide

The Sandfire share price has shed 5.42% while Oz Minerals shares have slid 2.58%. Meanwhile, the Austral share price has fallen 7.37%, Hot Chili shares have lost 6.33%, and Copper Mountain is down 6.92%.

Copper prices fell to a 19-month low amid recession fears, Bloomberg reported.

Copper closed at US$7,670 per tonne on the London Metal Exchange. However, during the day, the copper price shed 5.1% to US$7,597 a tonne, its lowest point since December 2020.

Global recession concerns are "continuing to predominate on the metals markets", Commerzbank AG analyst Carsten Fritsch told Bloomberg. He added:

Sentiment in US industry is becoming more gloomy, in other words; we interpret this as a sign that the US economy is losing momentum

Commenting on base metal prices, ANZ senior economist Catherine Birch said copper "led the sector lower". In an ANZ Research report, she added:

Sentiment was further hit following the new outbreak of COVID-19 cases in Shanghai.

Meanwhile, one broker has upgraded the OZ Minerals share price from hold to add, as my Foolish colleague Brendon reported this morning. The broker thinks the company's shares are "far too oversold".

The post ASX copper shares in the red as copper price sinks to 19 month low appeared first on The Motley Fool Australia.

The explorer's share price has jumped almost 15% to $2.97 at the time of writing. In contrast, the S&P/ASX 200 Index (ASX: XJO) is up 1.01% today.

With no price-sensitive news released by the ASX mining share today, let's take a look at what has been happening to this company lately.

Copper prices lift overseas

Copper prices bounced in overseas markets on Tuesday amid the hope China could soon end its stringent COVID-19 lockdowns. According to mining.com, copper prices hit $4.28 per pound at one point on the Comex market in New York.

Commerzbank analyst Daniel Briesemann said:

Shanghai is coming out of lockdown gradually and that is giving rise to demand hopes for cyclical commodities in particular.

Copper Mountain shares followed in the footsteps of overseas listings. The company's share price soared 18.08% on the Frankfurt Stock Exchange yesterday and 17.9% on the Toronto Stock Exchange.

What else might be impacting the ASX mining share price?

The company's flagship project is the Copper Mountain Mine in Southern British Columbia. Copper Mountain also owns the Eva Copper Project in Queensland.

Last week, the company hosed down media speculation the company was planning to sell the Eva Copper Project. In a statement released to the market, Copper Mountain said:

The company's policy is not to comment on market speculation. The company notes that it regularly reviews strategic opportunities to enhance shareholder value, and that there are no pending transactions with respect to the Eva Copper Project of any nature to note at this time.

Share price snapshot

The Copper Mountain share price has lost nearly 40% over the past 12 months and is down 18% in the year to date.

While the company's shares have lost nearly 22% in the past month, they are currently enjoying a reversal of fortune, trading 6% higher over the past week.

In comparison, the benchmark ASX 200 index has climbed 1% in a year.

The post Why is this ASX mining share surging 15% today appeared first on The Motley Fool Australia.

While ASX mining shares such as Rio Tinto (ASX: RIO) and BHP Group Ltd (ASX: BHP) are diversified producers with copper production, here are the pure copper majors and juniors of the ASX. 

Copper majors 

Oz Minerals Limited (ASX: OZL) 

Oz Minerals is the largest copper-focused ASX share with a market capitalisation of approximately $8 billion. Its shares have soared alongside copper prices, up 26% year-to-date and more than 150% in the past 12-months to record territory. 

The company delivered a mixed first-quarter update with the softer copper product due to its Carrapatenna mine switching contractors, which lowered fleet availability and grades. Despite quarterly production potentially missing expectations, the company believes it is on track to meet its FY21 production guidance.

Oz Minerals continues to eye several growth pipeline projects with a number of drilling programs underway. 

Brokers are relatively mixed on Oz Mineral shares with an average price target of $23.16 across Morgans, Macquarie, Credit Suisse and Morgan Stanley. Commentary has highlighted a stronger performance out of Carrapateena in the June quarter and the solid copper price to continue to drive earnings upside momentum. 

Sandfire Resources Ltd (ASX: SFR)

Sandfire is another mid-tier copper producer with a market cap of approximately $1.1 billion. The company has leveraged the recent surge in copper prices, with its interim net profits surging from $34.2 million in 1H20 to $60.8 million in 1H21. 

Sandfire has started developing its significant copper-silver production hub in Botswana, receiving board approval for the initial 3.2Mtpa operation.

The most recent broker update from Macquarie on 9 March believes higher copper prices will significantly impact Sandfire Resources.

The broker estimates the earnings forecast could rise by an average of 90% over the next five years. Macquarie rates its shares as outperform with an $8.8 target price. Sandfire shares are currently fetching $6.35. 

Copper juniors 

Copper Mountain Mining Corp (ASX: C6C)

Copper Mountain shares have more than doubled this year and are up an eye-watering 800% in the past 12 months. The company has made an outstanding transition from explorer to producer, with record production and revenues flowing through. 

Copper Mountain released a quarterly activities report on Tuesday, highlighting quarterly revenue of $162.2 million and gross profit of $96.3 million from the sale of 27.5 million pounds of copper, 8,553 ounces of gold and 161,657 ounces of silver. 

While the company may sound like a mid-tier producer, it boasts a market capitalisation of just ~$67 million. 

Cyprium Metals Ltd (ASX: CYM) 

Cyprium focuses on mid to late-stage local copper projects that could be fast-tracked into the production of copper metal.

The company recently acquired a portfolio of copper projects from Metals X Limited (ASX: MLX). Cyprium executive director Barry Cahill commented on the acquisition, saying: 

We look forward to leveraging our many years of combined team experience, to position Cyprium to establish itself as a significant Australian mid-tier copper producer.

The post Which ASX mining shares can take advantage of soaring copper prices? appeared first on The Motley Fool Australia.

The Copper Mountain share price was up 8%, trading at $4.02 per share at the market close.

Copper Mountain's revenue increases

The Copper Mountain share price has more than doubled in 2021 alone, and its business performance shows why investors have been jumping on the bandwagon.

Copper Mountain posted record quarterly production in the first quarter of the calendar year 2021 of 30.4 million pounds of copper equivalent (comprised of 25.5 million pounds of copper, 8,187 ounces of gold, and 160,484 ounces of silver).

It also recorded quarterly revenue for Q1 2021, totalling $162.2 million, from the sale of 27.5 million pounds of copper, 8,553 ounces of gold and 161,657 ounces of silver, net of pricing adjustments.

It made a record gross profit of $96.3 million and net income of $52.1 million, resulting in earnings per share (EPS) of $0.18.

The company's cash and cash equivalents at the end of Q1 2021 was $137.1 million, up $100.9 million from the previous corresponding period. Cash flow from operations for Q1 2021 was $79.6 million.

After the quarter, Copper Mountain closed a US $250 million bond financing to refinance its existing debt, enabling the company to access 100% of the excess free cash flow from the mine.

Copper Mountain's history and market presence

Copper Mountain is a mid-tier copper-gold producing company that was incorporated on 20 April 2006. The company owns 75% of the Copper Mountain Mine in Canada through a subsidiary, and Mitsubishi owns the remaining 25%.

The Copper Mountain Mine is a conventional open-pit, truck and shovel operation located 20km south of Princeton in British Columbia and 300km east of the port of Vancouver. Production of copper concentrate started there in 2011. 

The Copper Mountain share price is listed on the ASX because the miner also owns the Eva Copper Project. This a permitted development-ready copper-gold project in Queensland, Australia and an extensive 210,000 hectare highly prospective land package within the Mount Isa area. 

Copper Mountain share price snapshot

The Copper Mountain share price has now gained 119% since the start of the year, is up 813% over the past 12 months. 

The post Copper Mountain (ASX:C6C) share price rockets 8% on profit growth appeared first on The Motley Fool Australia.

Neither BHP or Rio have made any significant announcements recently, so, what's behind their relatively large gains today?

The answer may lie deep underground, buried with copper.

What's up with the BHP share price today?

The BHP share price is rising over and above the market index today. Without any recent announcements, the most likely explanation is optimism in the price of copper.

The Sydney Morning Herald (SMH) reported recently BHP expects demand for copper to double over the next 30 years due to surging demand for renewable technology. Copper is vital in the development of green technology. For example, right now, demand for electric vehicles is surging and will continue to do so for the foreseeable future.

Copper is currently trading for US $4.124 per pound on the commodities market. Its up 0.18% today and 17.53% since the beginning of the year. Its price is only slightly down from its 5-year high of around US $4.35 per pound at the end of February.

The price of copper is usually correlated with the global economy. Many are tipping the world's economy to strongly rebound from last year's lows as vaccinations accelerate and we enter a post-COVID world. On top of this and the aforementioned growing demand for renewable energy, there are also some supply issues with copper.

Chile and Peru are the two largest copper producing nations. Coronavirus restrictions in both countries saw mining operations slow down over the last year. In addition, growing support for left-wing politics in both nations is spooking more conservative market players, especially in relation to the mining industry.

How about other ASX copper miners?

The BHP share price is up because of high hopes for copper, but what about its competitors? Rio Tinto has already been mentioned and it is having a similarly good trading day.

Smaller rival OZ Minerals Limited (ASX: OZL), with a market capitalisation of $8.1 billion, shares are up an almost identical 2.7%. Sandfire Resources Ltd (ASX: SFR) (market cap $1 billion) is up an impressive 5.11%. Canadian copper miner Copper Mountain Mining Corporation (ASX: C6C) is 4.06% higher.

BHP share price snapshot

Over the last 12 months, the BHP share price has increased 50.05%. Besides copper, iron ore is BHP's other big money maker. A note out of Macquarie Group Ltd (ASX: MQG) believes the share price will continue to go higher on increasing demand for the ferrous metal.

BHP has a market capitalisation of $215.1 billion.

The post Why the BHP (ASX:BHP) share price is surging today appeared first on The Motley Fool Australia.

Let's take a peek and see what might be moving the Copper Mountain share price.

Copper Mountain share price jumps after record results

In yesterday's release, the company reported record quarterly production in the fourth quarter of FY2020 (Q4 FY20). During the quarter, Copper Mountain produced 29.1 million pounds of copper equivalent. This was comprised of 23.1 million pounds of copper, 8,959 ounces of gold, and 144,934 ounces of silver.

Additionally, full-year 2020 production exceeded guidance. During this period, Copper Mountain produced 77.6 million pounds of copper, ahead of previously offered guidance of 70 to 75 million pounds.

Revenue for Q4 FY20 was $106.1 million and $341.7 million for the full year.

Copper Mountain reported earnings per share (EPS) for Q4 of 10 cents and 18 cents EPS for the full year.

Cash flow from operations for the quarter was $50.9 million and for the full year was $121.6 million.

CEO comments

Commenting on Copper Mountain's achievements and what lies ahead, President and CEO Gil Clausen said:

We expect our low-cost profile to remain in 2021 and for production to increase by up to 22% to the range of 85 to 95 million pounds of copper this year. Increased production will be driven by higher grades, as already experienced in the fourth quarter of 2020, and increased throughput and recovery following the commissioning of the 45,000 tonnes per day mill expansion planned for completion in the third quarter of 2021. We remain focused on advancing our organic growth pipeline, which includes the further mill expansion to 65,000 tonnes per day at the Copper Mountain Mine and the Eva Copper Project, while maximizing cash flow to continue to build on our healthy cash position.

The Copper Mountain share price has rocketed 225% higher over the past year.

The post Here's why the Copper Mountain (ASX:C6C) share price closed 7% higher today appeared first on The Motley Fool Australia.

European Metals Holdings Ltd (ASX: EMH)

The European Metals Holdings share price soared over 10% today, reaching $1.30. While it's been a bumpy road, the company's share price has roared over 300% in the past six-month period.

In recent news, the company appointed Ambassador Lincoln Palmer Bloomfield, Jr as a non-executive director. Ambassador Bloomfield will be based in Washington DC and has held several roles in the private sector promoting sustainability. European Metals said that he is a 'valuable addition' as part of the company's commitment to support the European Commission's new Batteries Regulation.

Copper Mountain Mining Corporation (ASX: C6C)

Copper Mountain Mining shares shot up an impressive 9.59% today, landing at $2.40. The share price posted booming gains after announcing record quarterly production with a positive 2021 outlook.

The announcement also advised that the company had exceeded its 2020 expectation to mine and develop between 70 to 75 million pounds of copper by 1.6 million pounds. The company's 2021 guidance expects copper production to range from 85 to 95 million pounds.

Gold production is expected to be between 25,000 to 35,000 ounces and silver production is expected to be in the range of 500,000 to 550,000 ounces this year.

Talga Group Ltd (ASX: TLG)

The Talga Group share price jumped by 5% today to reach $1.89. The company posted an impressive 2020 share price gain of nearly 250% with big plans to make its mark in the electric vehicles market. Talga Group has been operating since 2011 with operations in Sweden, Germany and the UK.

Morningstar analysts believe Talga Group is undervalued, while Thomson Reuters has posted a neutral rating for the company.

In December, the company announced completion of a successful institutional placement to raise $25 million. The announcement also cites a Share Purchase Plan put in place to raise an additional $10 million. 

Investors and analysts alike will be keeping an eye out on what's ahead after a $35 million capital bump. Talga has advised that all of the funds raised will be spent developing the company's Vittangi Anode Project in Sweden.

The post These 3 ASX mining shares are top risers today appeared first on The Motley Fool Australia.

At the time of writing, the Copper Mountain share price is travelling 8.2% higher to $2.37.

How did Copper Mountain perform in 2020?

The Copper Mountain share price is on the run as investors are fighting to get a hold of its shares.

According to the release, Copper Mountain advised that it has achieved record quarterly production for copper, gold and silver. The robust result to finish off the calendar year saw the company exceed its previous production targets.

At the end of the fourth quarter, Copper Mountain produced a record 23.1 million pounds of copper. This reflected a 22% increase on the third quarter period and was 23% up on the same time last year. Management said that the strong performance was due to mining higher copper grades.

In addition, Copper Mountain yielded record gold and silver production, which led to 8,959 ounces and 144,934 ounces, respectively.

In 2020 as a whole, Copper Mountain reported 77.6 million pounds of copper produced. The company had originally projected it would mine and develop between 70 million to 75 million pounds of copper across the period. Total yearly production for precious metals came in at 29,227 ounces of gold and 392,494 ounces of silver.

FY21 production and guidance update

Looking ahead, Copper Mountain estimates 2021 production for copper to be around 85 million to 95 million pounds. The robust guidance comes as the company continues to mine higher grades of the base metal. Furthermore, its mill expansion project is scheduled to be completed in the third quarter. This will allow the company to recover up to 45,000 tonnes of copper per day.

Gold production for the year is projected to be between 25,000 ounces to 30,000 ounces, with its cheaper cousin silver forecast to come in at between 500,000 ounces and 550,000 ounces.

All-in-costs is forecasted to remain low throughout 2021, with total costs coming in around US$1.80 to US$2 per pound. This assumes an exchange rate of CAD$1.33 to US$1.

Words from management

Copper Mountain president and CEO Mr Gil Clausen commented on the company's performance:

Our operating team executed on our operating plan beating our production guidance for this year. We finished the year strong with record production in the fourth quarter as a result of higher grades, which we expect to continue in 2021.

We are continuing to build up a healthy cash position while investing in our low risk, high return growth projects at the Copper Mountain Mine.

Copper Mountain share price summary

The Copper Mountain share price is up almost 200% over the last 12 months, reflecting positive investor sentiment.

The company's shares reached a low of 33.5 cents in March, however they have since shot up to a record high of $2.37 today.

At the current price, Copper Mountain stands a market capitalisation of $459.8 million.

The post Why the Copper Mountain (ASX:C6C) share price is hitting a record high today appeared first on The Motley Fool Australia.

Of course, how the market treats a share doesn't ultimately mean anything. But, it can be interesting nonetheless.

Here are how the latest ASX shares fared:

Copper Mountain Mining Corporation (ASX: C6C)

Copper Mountain started trading on the ASX on 6 April 2018.

Its principal activities relate to the production and exploration of minerals.

Copper Mountain is a decently-sized mining company that was already listed in Canada, its main mine is in southern British Columbia called Copper Mountain. The company recently got approval from the Australian Federal Court to acquire all the shares of Altona Mining Limited.

Copper Mountain was admitted to the ASX boards with CHESS Depository Instruments (CDIs), meaning ASX investors can buy a piece of the Canadian company through the ASX if they want to.

It started trading at $1.20 and it's now $1.28, representing a 6.66% gain. Not a bad start, but I suppose its future success will be highly dependent on the copper price.

Universal Biosecurity Limited (ASX: UBL)

Its principal activity is to commercialise its intellectual property rights to an apparatus that vaporises liquid fumigants for use in the fumigation industry.

The company believes that its product can be used with traditional liquid fumigants to deliver a traditional fumigation solution as well as with ethyl formate to deliver an environmentally friendly fumigation solution.

Its proposed listing date was 10 April 2018, but it hasn't made it on to the ASX yet. The ASX hasn't updated when it expects the company to list.

Foolish takeaway

Copper Mountain could be an interesting one to watch for people who like resource stocks, but it's not the industry for me. Who knows when Universal Biosecurity will list? It sounds like an interesting idea but I'd want to see it has growth potential before committing money.

The post How these IPOs fared 1 week later appeared first on The Motley Fool Australia.