Stocks were flat to start the morning as investors await a possible infrastructure budget resolution. The Senate is expected to vote on a $1 trillion bipartisan infrastructure plan at 11 am today. The bill includes $550 billion in spending to improve the country’s roads, bridges, airports, and waterways.
New infrastructure spending would almost certainly give a boost to the steel industry. Plus, an expanding global population and rapidly moving urbanization are expected to fuel steel demand for years to come. In fact, Zack’s Research rates the Mining – Iron space number 1 out of more than 250 industries.
In today’s trade alert, we’ll cover a top choice from this strong industry and explain the many reasons why it’s a long-term keeper.
Palm Beach Group:
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Vale (VALE), the world’s largest producer of iron ore and pellets and supplier of the steel industry, has been gaining from a rally in iron ore prices, which hit all-time highs in May with supply concerns in China fueling the rise. China, the largest consumer of steel worldwide, is spending more on infrastructure, so the price of iron ore is expected to remain high for the foreseeable future.
Vale doesn’t limit itself to iron, though. It produces metallurgical and thermal coal, copper, manganese ore, and nickel, which is used in EV batteries. Plus, demand for copper in China may continue to push prices higher in the near term. They also have a logistics network that integrates mines, railroads, ports, and ships, which has provided an edge in the market as it lowers costs to the company.
Analysts expect sales to surge 115% and earnings to soar 517% year-over-year in the second quarter. Earnings are also expected to surge a whopping 372% for the full fiscal year.
The company is well-favored among the Wall Street pros. And gaining attention. Of 21 analysts offering recommendations for VALE, 17 rate the stock a Buy, 2 rate it a Hold, and only 2 say to Sell VALE shares. A median 12-month price target of $26 represents a 25% upside from its current price.
Where to invest $1,000 right now...
Before you consider buying Vale, you'll want to see this.
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And it's not Vale.
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Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
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