3 Commodity Stocks To Consider For Inflation

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 XOM, Southern Copper Corporation SCCO, and Newmont Corporation NEM.

See Also: 2 Commodity ETFs For Inflation

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.

xom_2.png

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

scco_0.png

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.

nem.png

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Long IdeasTechnicalsCommoditiesMarketsTrading IdeasGoldInflationOil
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!