The metals and mining sector has been one of the few bright spots in the market this year. As of this writing, the SPDR S&P Metals & Mining ETF is up 18.6% for the year while the broader markets are down double digits. Metals and mining are notoriously cyclical businesses, so investors may be hesitant to look at mining companies after they posted decent gains this year.
When you look at the valuations of Teck Resources (NYSE: TECK) and Intrepid Potash (NYSE: IPI) , though, it gets harder to ignore the fact that these companies look incredibly cheap. Here's a look at the two miners and why investors may want to seriously consider these cheap mining stocks .
Lithium is the hot commodity for investors looking to benefit from the surge in renewable energy and electric vehicles (EVs). Two that are vastly overlooked, though, are copper and zinc. These two metals are essential for manufacturing electric motors, wires, batteries, and the infrastructure needed to electrify everything. Back in May, Goldman Sachs estimated that copper demand from electrification and EVs will more than quintuple by 2030. Similarly, renewable energy demand for zinc is expected to triple between 2020 and 2030.
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2 Mining Stocks That Are Too Cheap to Ignore