POSCO Holdings (NYSE:PKX) 주식

POSCO Holdings

POSCO Holdings Inc is a holding company and operates through its subsidiaries. The company operates across four distinct segments. The first segment is the Steel Segment, which includes the production and sale of steel products. The second segment is the Green Infrastructure Business, which is further divided into three operations. The Trading Segment comprises trading and natural resource development activities. The Construction Segment involves the planning, designing, and construction of industrial plants, civil engineering projects, and buildings. The Energy and Other Segments include power generation, as well as information technology and operational technology services. The third segment is the Green Materials and Energy Segment, and the fourth segment is the Others Segment.

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이들 11개 대형주들은 지난주 최악의 성과를 거두었다. 그것들이 당신의 포트폴리오에 있나요? 1. 텍사스 퍼시픽 랜드 코퍼레이션(NYSE:TPL) 주식은 OPEC의 공급 결정으로 인해 16.35% 급락했다.

인텔, 유나이티드헬스 및 로켓랩 지난주 최악의 성과를 보인 11개 대형주 중 일부 (12월 2일-6일)

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HXSCF

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수요일(4일) 한국 증시는 급락세를 보였다. 윤석열 대통령이 지난밤 비상계엄을 선포한 이후 의회의 반대에 부딪혀 재빠르게 해제하는 극적인 정치적 격변이 발생했기 때문이다. 

한국 증시 급락, 윤석열 대통령의 비상계엄 선포·해제 속 불확실성 촉발: 삼성, SK하이닉스, 현대차 주가 하락

AKAM

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MELI

MRNA

PINS

지난주 카멀라 해리스가 2024년 미국 대선에서 패배하면서 다음 10개의 대형 주식이 가장 저조한 성과를 보였다. 

카멀라 해리스 대선 패배 주간(11월 4~8일) 대폭 하락한 대형주 10종목

POSCO HOLDINGS INC. American Depositary Shares (Each representing 1/4th of a share of Common Stock)

POSCO Holdings Inc

These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Texas Pacific Land Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) stock tumbled 16.35%, probably due to OPEC's supply decision.</li>
<li>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) shares plummeted 13.03% after the company announced it halted its application for U.S. semiconductor government grants and cut revenue guidance <a href="https://www.benzinga.com//node/42344223" target="_blank" rel="noreferrer noopener">for the December 2024 quarter</a>.</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) shares dived 13.01% after the company announced <a href="https://www.benzinga.com//node/42267115" target="_blank" rel="noreferrer noopener">the retirement of CEO Pat Gelsinger</a>.</li>
<li>KB Financial Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KB#NYSE">KB</a>) stock declined 12.68%.</li>
<li>Guidewire Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) stock dipped 12.48% after it <a href="https://www.benzinga.com//node/42351588" target="_blank" rel="noreferrer noopener">reported first-quarter results</a>. Analysts revised their <a href="https://www.benzinga.com/quote/gwre/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) stock fell 10.86%. It expanded its partnership with Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) to give restaurants more choices and provide guests <a href="https://www.benzinga.com//node/42347476" target="_blank" rel="noreferrer noopener">additional delivery options</a>. Several analysts <a href="https://www.benzinga.com//node/42268538" target="_blank" rel="noreferrer noopener">downgraded the stock</a>.</li>
<li>UnitedHealth Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) stock declined 9.93% following the fatal shooting of the insurance division's CEO Brian Thompson outside a Manhattan hotel where the company was <a href="https://www.benzinga.com//node/42365853" target="_blank" rel="noreferrer noopener">hosting its annual investor conference</a>.</li>
<li>Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) stock fell 9.83% last week <a href="https://www.benzinga.com//node/42300450" target="_blank" rel="noreferrer noopener">due to the threat of new tariffs</a> on Canada, which could impact several sectors, including transportation companies.</li>
<li>Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) stock lost 9.67% last week due to ongoing conflict in the Middle East affecting commodity prices.</li>
<li>POSCO HOLDINGS INC. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) shares decreased 9.67%, probably after South Korean President Yoon <a href="https://www.benzinga.com//node/42306717" target="_blank" rel="noreferrer noopener">Suk Yeol declared martial law</a>.</li>
<li>Rocket Lab USA, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) stock dipped 9.53% last week due to profit-taking in the sector. The company also stated it would announce the launch <a href="https://www.benzinga.com//node/42351319" target="_blank" rel="noreferrer noopener">window for its sixth synspective mission on December 18</a>.</li>
</ol>
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Intel, UnitedHealth And Rocket Lab Are Among Top 11 Large Cap Losers Last Week (Dec 2-Dec 6): Are The Others In Your Portfolio?

<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42307586/bitcoin-dumped-and-recovered-in-south-korea-amid-political-turmoil-an-arbitrage-opportunity-that-wasnt">Political uncertainty surrounding</a> South Korean President Yoon Suk Yeol has spurred heated activity on prediction market Polymarket on Wednesday.
What Happened: <a href="https://polymarket.com/event/south-korean-president-impeached-in-2024?tid=1733326929469">Data</a> from the prediction market shows a 37% probability of Yoon being impeached before the end of 2024.
Another Polymarket question <a href="https://polymarket.com/event/yoon-out-as-president-of-south-korea-in-2024?tid=1733326929195">gives</a> a 29% chance of Yoon being removed from office, underscoring heightened political instability in the country.
This uncertainty has already rippled through <a href="https://www.benzinga.com/news/global/24/12/42306717/south-korean-markets-plunge-amid-political-turmoil-as-president-yoons-martial-law-u-turn-sparks-uncertainty-samsung-sk-hynix-and-hyundai-stocks-tumble">South Korea's financial markets</a>.
Key technology and industrial stocks have taken a hit, with Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) down 1.12%, NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) supplier SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>) slipping 0.061%, and Hyundai Motor (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) falling 0.70%. 
The turmoil has also affected U.S.-listed South Korean equities, with Posco Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) dropping 4.36% in regular trading before seeing a slight recovery after hours. 
South Korean ETFs in the U.S., including the iShares MSCI South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWY#NYSE">EWY</a>) and Franklin FTSE South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLKR#NYSE">FLKR</a>), also saw mixed performances, signaling broader market apprehension.
The situation has also impacted the South Korean won, which weakened by 0.21% against the U.S. dollar, trading at 1,416.65. 
Analysts noted that South Korea&#8217;s crucial role in global supply chains, particularly in semiconductors and automotive production, amplifies the stakes of this political drama.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42317460/vladimir-putin-says-nobody-can-ban-bitcoin-stresses-crypto-will-develop-one-way-or-the-other">Vladimir Putin Says &#8216;Nobody Can Ban Bitcoin,&#8217; Stresses Crypto Will Develop &#8216;One Way Or The Other&#8217;</a>
Why It Matters: The cryptocurrency market, too, felt the shockwaves.
Major coins like Bitcoin and Ethereum plunged on Upbit, South Korea&#8217;s largest crypto exchange, trading at a steep discount compared to international markets. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped as low as $71,800 on Upbit compared to $95,500 on Coinbase, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) fell to $2,700 on Upbit before recovering. 
The Korea Premium Index, which tracks price differences between South Korean and global exchanges, dipped to -14.67 during the chaos, signaling significant retail selling pressure.
However, the situation stabilized after President Yoon reversed his martial law decision following parliamentary pushback, with Bitcoin and Ethereum rebounding to align more closely with global prices. 
Analysts noted this episode's divergence from the traditional "Kimchi Premium," where South Korean crypto prices often trade at a significant premium.
Historical patterns add further context to the political stakes. 
South Korea has a tumultuous history of leadership changes, with several former presidents either overthrown, impeached, or imprisoned. 
Yoon's presidency, marked by controversy and challenges, now faces increasing scrutiny and the potential for <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42307586/bitcoin-dumped-and-recovered-in-south-korea-amid-political-turmoil-an-arbitrage-opportunity-that-wasnt">a similar fate</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42317024/bitcoin-ethereum-etfs-recorded-over-800-million-in-inflows-on-tuesday">Bitcoin, Ethereum ETFs Recorded Over $800 Million In Inflows On Tuesday</a></li>
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Photo: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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South Korea's President To Be Impeached In 2024? Polymarket Traders Are Unsure

South Korean markets traded sharply lower on Wednesday following a dramatic political upheaval that saw President Yoon Suk Yeol briefly impose and then quickly withdraw martial law <a href="https://www.benzinga.com/news/global/24/12/42301885/south-korea-etfs-won-pare-losses-as-yoon-makes-u-turn-on-martial-law-declaration">after facing parliamentary opposition</a>.
What Happened: The benchmark Kospi index fell 1.15% to 2,471.27, while the tech-heavy Kosdaq 100 dropped 2.64% as of 9:49 am local time, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
The political uncertainty particularly affected major technology and industrial stocks, with Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) declining 1.12%.
NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) supplier SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>) saw its shares drop 0.061%. Other industrial heavyweights also suffered, with Hyundai Motor (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) falling 0.70% and U.S.-listed Posco Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) declining 4.36% to $47.77 on Tuesday&#8217;s regular session. Still, the stock recovered marginally in after-hours trading.
U.S.-based funds tracking South Korean equities showed signs of recovery in after-hours trading, with the iShares MSCI South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWY#NYSE">EWY</a>) rebounding 0.25% after earlier losses exceeding 6%. The Franklin FTSE South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLKR#NYSE">FLKR</a>) gained 0.53% after hours.
The political turbulence also impacted currency markets, with the South Korean won weakening 0.21% against the U.S. dollar to 1,416.65. 
The market reaction highlights South Korea&#8217;s crucial role in global supply chains, particularly in semiconductor manufacturing and automotive production, where many companies serve as essential suppliers to major U.S. firms.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/12/42305773/key-stocks-etf-to-watch-as-french-government-faces-no-confidence-vote">Key Stocks, ETF To Watch As French Government Faces No-Confidence Vote</a></li>
</ul>
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

South Korean Markets Plunge Amid Political Turmoil As President Yoon's Martial Law U-Turn Sparks Uncertainty: Samsung, SK Hynix, And Hyundai Stocks Tumble

WIIM

CPNG

Shares of companies US-listed South Korean stocks are trading lower after South Korean President Yoon Suk Yeol declared martial law.

When Kamala Harris lost the 2024 U.S. election last week, these ten large-cap stocks were the worst performers.
<ol>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) shares dipped 12.53% last week despite a third-quarter earnings beat due to a weak vaccine demand slowdown. Several <a href="https://www.benzinga.com//node/41854205" target="_blank" rel="noreferrer noopener">analysts lowered their price forecast</a> on the stock.</li>
<li>Honda Motor Company, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) stock tumbled 11.46% on a decline in the first-half profit <a href="https://www.benzinga.com//node/41781952" target="_blank" rel="noreferrer noopener">and reduced annual profit forecast</a>.</li>
<li>Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) shares declined 10.67% after the company <a href="https://www.benzinga.com//node/41823455" target="_blank" rel="noreferrer noopener">revised its FY24 guidance</a>.</li>
<li>Advanced Drainage Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMS#NYSE">WMS</a>) stock fell 10.53% after it reported worse-than-expected second-quarter results and cut its FY25 <a href="https://www.benzinga.com//node/41839671" target="_blank" rel="noreferrer noopener">net sales outlook</a>.</li>
<li>AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) shares decreased 9.72% following a report suggesting that the company&#8217;s insurance fraud <a href="https://www.benzinga.com//node/41754167" target="_blank" rel="noreferrer noopener">involved senior executives in China</a>.</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) stock was down 9.60% after the company reported third-quarter results, and several analysts cut <a href="https://www.benzinga.com//node/41850902" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>
<li>MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) shares fell 9.29% after it reported <a href="https://www.benzinga.com//node/41793254" target="_blank" rel="noreferrer noopener">third-quarter financial results</a>.</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) stock declined 8.64%, probably due to Donald Trump&#8217;s presidential election victory. Investors may be assessing Trump&#8217;s policies<a href="https://www.benzinga.com//node/41778433" target="_blank" rel="noreferrer noopener"> regarding solar and renewable energy</a>.</li>
<li>POSCO HOLDINGS INC. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) shares were down 8.42%.</li>
<li>Floor &amp; Decor Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FND#NYSE">FND</a>) stock fell 8.22%.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/11/41886058/donald-trump-victory-week-nov-4-8-these-large-cap-stocks-were-biggest-gainers" target="_blank" rel="noreferrer noopener">Donald Trump Victory Week (Nov 4-8): These Large Cap Stocks Were Biggest Gainers</a></li>
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Image via Shutterstock

The Week Kamala Harris Lost (Nov 4-8), These Large Cap Stocks Lost Big

Provisional Earnings in Separate Financial Statements Base
(Disclosure of POSCO HOLDINGS' Subsidiary Company POSCO)
(In trillions of KRW)
&nbsp;
<figure class="table"> 
<table>
<tbody>
<tr>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>Q3&nbsp;2024</td>
<td>&nbsp;</td>
<td>Q2&nbsp;2024</td>
<td>&nbsp;</td>
<td colspan="2">Changes&nbsp;over Q2 2024(%)</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>Q3&nbsp;2023</td>
<td>&nbsp;</td>
<td colspan="2">Changes&nbsp;over Q3 2023 (%)</td>
<td>&nbsp;</td>
</tr>
<tr>
<td rowspan="2">Revenue</td>
<td>&nbsp;</td>
<td>Amount</td>
<td>&nbsp;</td>
<td>9.48</td>
<td>&nbsp;</td>
<td>9.28</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>2.2</td>
<td>%&nbsp;</td>
<td>&nbsp;</td>
<td>9.68</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>-2.1</td>
<td>%&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td>
Yearly &nbsp;
Amount
</td>
<td>&nbsp;</td>
<td>28.28</td>
<td>&nbsp;</td>
<td>18.80</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>— </td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>29.60</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>-4.5</td>
<td>%&nbsp;</td>
</tr>
<tr>
<td rowspan="2">Operating Profit</td>
<td>&nbsp;</td>
<td>Amount</td>
<td>&nbsp;</td>
<td>0.44</td>
<td>&nbsp;</td>
<td>0.42</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>4.8</td>
<td>%&nbsp;</td>
<td>&nbsp;</td>
<td>0.73</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>-39.7</td>
<td>%&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td>
Yearly &nbsp;
Amount
</td>
<td>&nbsp;</td>
<td>1.15</td>
<td>&nbsp;</td>
<td>0.71</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>— </td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>1.82</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>-36.8</td>
<td>%&nbsp;</td>
</tr>
<tr>
<td rowspan="2">
Profit
before
Income
Tax
</td>
<td>&nbsp;</td>
<td>Amount</td>
<td>&nbsp;</td>
<td>0.35</td>
<td>&nbsp;</td>
<td>0.35</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>0.0</td>
<td>%&nbsp;</td>
<td>&nbsp;</td>
<td>0.67</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>-47.8</td>
<td>%&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td>
Yearly &nbsp;
Amount
</td>
<td>&nbsp;</td>
<td>0.95</td>
<td>&nbsp;</td>
<td>0.60</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>— </td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>1.53</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>-37.9</td>
<td>%&nbsp;</td>
</tr>
<tr>
<td rowspan="2">Profit</td>
<td>&nbsp;</td>
<td>Amount</td>
<td>&nbsp;</td>
<td>0.26</td>
<td>&nbsp;</td>
<td>0.27</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>-3.7</td>
<td>%&nbsp;</td>
<td>&nbsp;</td>
<td>0.50</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>-48.0</td>
<td>%&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td>
Yearly &nbsp;
Amount
</td>
<td>&nbsp;</td>
<td>0.76</td>
<td>&nbsp;</td>
<td>0.50</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>— </td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>1.16</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>-34.5</td>
<td>%&nbsp;</td>
</tr>
</tbody>
</table>
</figure>
&nbsp;
<figure class="table"> 
<table>
<tbody>
<tr>
<td>&#x2A;</td>
<td>The above earnings information is composed based on&nbsp;K-IFRS&nbsp;(Korean International Financial Reporting Standards) and the independent auditors' review is not finished. Therefore, the earnings information may change in the review process.</td>
</tr>
</tbody>
</table>
</figure>

Earnings

Earnings Misses

POSCO HOLDINGS Preliminary Q3 Revenue KRW9.48T Down From KRW9.68T YoY, Profit KRW0.27T Down From KRW0.50T YoY

ACHR

AZUL

BEEM

CENX

EVTL

FLNC

GTLS

JCSE

JOBY

KALU

LICY

MVST

NRGV

PLUG

RYAAY

SCCO

SKIL

SPXC

STLD

TORO

VALE

Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

ASPI

CNEY

CRKN

LITM

SBSW

Shares of metal companies are trading lower amid a drop in price and a report of weak demand in China.

The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the R<a href="https://www.benzinga.com/topic/rsi">SI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Ingevity Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGVT#NYSE">NGVT</a>)</h3>
<ul>
<li>On July 31, Ingevity posted weaker-than-expected quarterly results. &#8220;As we move forward with transforming Performance Chemicals into a more profitable and stable segment, we continue to see Performance Materials deliver best-in-class results,&#8221; said John Fortson, president and CEO. The company's stock fell around 22% over the past five days and has a <a href="https://www.benzinga.com/quote/NGVT">52-week low of $34.37</a>.</li>
<li>RSI Value: 18.64</li>
<li>NGVT Price Action: Shares of Ingevity fell 14.1% to close at $35.41 on Monday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to l<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1">atest NGVT news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href=" https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="907" height="818" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06034750/image-17.png" alt="" class="wp-image-478138" style="width:408px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06034750/image-17.png 907w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06034750/image-17-300x271.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06034750/image-17-768x693.png 768w" sizes="(max-width: 907px) 100vw, 907px" /></a></figure>
<h3 class="wp-block-heading">Posco Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>)&nbsp;</h3>
<ul>
<li>The company's stock fell around 10% over the past five days. It <a href="https://www.benzinga.com/quote/PKX">has a 52-week low</a> of $58.00.</li>
<li>RSI Value: 19.33</li>
<li>PKX Price Action: Shares of Posco fell 9.2% to close at $58.66 on Monday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"> trend in PKX stock</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href=" https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="912" height="827" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06034854/image-18.png" alt="" class="wp-image-478140" style="width:541px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06034854/image-18.png 912w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06034854/image-18-300x272.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06034854/image-18-768x696.png 768w" sizes="(max-width: 912px) 100vw, 912px" /></a></figure>
<h3 class="wp-block-heading">Mp Materials Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>)</h3>
<ul>
<li>On Aug. 1, MP Materials reported worse-than-expected second-quarter financial results. &#8220;We had a very challenging quarter, operationally and financially, with higher-than-expected upstream downtime and a continued weak pricing environment. Despite this, we more than doubled NdPr production sequentially. We also signed a substantial new NdPr supply agreement with a global automaker,&#8221; said James Litinsky, Founder, Chairman and CEO of MP Materials. The company's shares fell around 21% over the past five days and has a 52-week <a href="https://www.benzinga.com/quote/MP">low of $10.02</a>.</li>
<li>RSI Value: 20.10</li>
<li>MP Price Action: Shares of Mp Materials fell 5.8% to close at $10.52 on Monday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"> breakout in MP shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href=" https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="887" height="835" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06035005/image-1-10.png" alt="" class="wp-image-478145" style="width:519px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06035005/image-1-10.png 887w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06035005/image-1-10-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06035005/image-1-10-768x723.png 768w" sizes="(max-width: 887px) 100vw, 887px" /></a></figure>
<h3 class="wp-block-heading">Stepan Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCL#NYSE">SCL</a>)</h3>
<ul>
<li>On July 31, Stepan reported worse-than-expected second-quarter financial results. &#8220;Second quarter earnings were significantly impacted by higher operational expenses at our Millsdale site, start up costs related to our new Pasadena investment and a criminal social engineering event that targeted one of our Asia subsidiaries, leading to unexpected expense in the quarter.&nbsp; We are actively investigating this fraud event with the assistance of outside counsel, and to date, we have not found any evidence of additional fraudulent activity,&#8221; said Scott Behrens, President and Chief Executive Officer. The company's shares lost around 18% over the past five days. The company's 52-week low is $63.60.</li>
<li>RSI Value: 19.84</li>
<li>SCL Price Action: Shares of Stepan fell 6.5% to close at $73.00 on Monday.</li>
<li>Benzinga Pro&#8217;s earnings calendar was used to t<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1">rack earnings reports of SCL</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href=" https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="890" height="835" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06035227/image-19.png" alt="" class="wp-image-478150" style="width:503px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06035227/image-19.png 890w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06035227/image-19-300x281.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/06035227/image-19-768x721.png 768w" sizes="(max-width: 890px) 100vw, 890px" /></a></figure>
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Long Ideas

NGVT

Top 4 Materials Stocks Which Could Rescue Your Portfolio This Month

The market for coal used to make steel is in the summer doldrums, but supply outages in Australia and the United States are providing underlying tightness that could cause prices to spike in the late summer and fall once Asian <a href="https://www.benzinga.com/topic/steel">steelmakers start restocking.</a>
Mine fires in Australia and West Virginia and a lock and dam closure in Alabama are causing latent tightness that won't become visible until India and China come back to the market between August and October. Once they do, prices are likely to move higher but remain capped below record highs by a sluggish global economy.&nbsp;
"The supply side looks very supportive of met coal prices,"&nbsp;John Berman, chief investment officer with natural resources&nbsp;investment management&nbsp;company&nbsp;Berman Capital Group, told Benzinga. "It's the demand side that is potentially the brakes on any price rally."
Also Read: <a href="https://www.benzinga.com/markets/asia/24/06/39173971/coal-stocks-take-a-breather-as-trading-sentiment-sours-in-commodities-markets-was-the-election-in-in">Coal Stocks Take A Breather As Trading Sentiment Sours In Commodities Markets: Was The Election In India A Factor?</a>
Australia's Grosvenor Outage
Among the top concerns of the market right now is <a href="https://www.benzinga.com/m-a/24/07/39623378/anglo-americans-coal-asset-sale-faces-hurdle-after-fire-at-major-mine">the outage</a> at Anglo American's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTC">NGLOY</a>) Grosvenor Mine, which supplies more than 1% of global seaborne steelmaking coal.
An explosion and fire forced the company to suspend production at the mine late last month, knocking out up to 3 million tons of Anglo&#8217;s total expected 15-17 million metric tons of steelmaking coal output for 2024. On Thursday, the miner revised that guidance to 14-15.5 million metric tons.
The day after the explosion, Anglo said the outage could last several months because of likely damage underground.
Last week, Australian mining union officials said they were worried that Grosvenor might close permanently, although they acknowledged that Anglo was trying to recover the mine.
Metallurgical coal prices initially jumped on the Grosvenor news, but then retreated as Anglo reportedly assured customers of third quarter deliveries. However, the company reportedly said it wouldn't be able to meet delivery obligations in the fourth quarter.
"While the incident will continue to provide support and tighten supply, it appears that part of the initial price rally was speculative,"&nbsp;RBC Capital Markets&nbsp;said in a note.
US River Transportation Outage
In the United States, the Army Corp of Engineers closed the Holt Lock and Dam on the Black Warrior River in Alabama on June 22 as a safety precaution because of cracks and leaks. The river is a key artery for barge transportation of coal.
The infrastructure will be closed for three to five months while a new steel-enforced bulkhead can be manufactured, Army engineers said.
The closure means Peabody Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTU#NYSE">BTU</a>) and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37295857/warrior-met-coals-ballooning-development-costs-prompt-analysts-to-rethink-projectio">Warrior Met Coal Inc. </a>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCC#NYSE">HCC</a>) will have to find alternate transportation, Matthew Warder, an analyst with The Coal Trader newsletter, told Benzinga. The companies didn't respond when asked for comment.
US Longview Mine Outage
On June 30, the Longview Mine in West Virginia caught fire, according to media reports. The federal Mine Safety and Health Administration is investigating the incident. 
As of Friday, the mine remained out of commission, sources familiar with the matter told Benzinga. One of the sources said the mine could reopen this week while another said workers had reentered the mine last week.
Industry chatter suggests the mine won't be back to full production for months, although one of the sources said it is the operator's goal to restart mine production as soon as possible.
The mine operator,&nbsp;Allegheny Metallurgical, didn't respond to requests for comment. Privately held Allegheny is a partnership between privately held U.S.-based companies&nbsp;American Metals &amp; Coal International Inc.&nbsp;and&nbsp;JAZ Ventures, South Korea's&nbsp;Posco Holdings&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) and Japan's&nbsp;Itochu Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>) .
Based on a similar incident at Peabody's Shoal Creek Mine last year, Warder said the Longview outage could keep 0.5-1.5 million short tons of high volatile metallurgical coal off the market in 2024 and up to 3.5 million short tons off next year if the mine remains offline.
Higher Prices to Benefit Miners
The three incidents have tightened metallurgical coal supply, but at the moment there isn't a strong upward price reaction because steelmakers in India, China, Europe and Brazil aren't yet looking to make purchases on the spot market to replenish their stocks. Meanwhile, U.S. coking coal buyers are just getting their annual procurement process started this month.
"This is a very sleepy time in the market," Warder said.
Late last month, Australian premium coking coal futures, an industry benchmark, could be seen at $233 per metric ton, a far cry from their record high above $360 set in October.
When heavyweight steel producers India and China come back to the market between August and October, the demand may push prices higher than they would otherwise go if not for the production outages in Australia and the United States.
Warder thinks $300 steelmaking coal prices are in play sometime in the fall, although the market won't get back to the highs from the previous year because of a weaker Chinese economy.
"I think we could see $300 in the short term once the restocking season gets underway, although I don't know how sustainable that price will be with current demand," Berman said, adding that "$360, I think, is very unlikely without robust Chinese demand this year."
Firmer prices stand to benefit coking coal producers, Warder said.
That includes BHP and Alpha Metallurgical Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMR#NYSE">AMR</a>), he added. 
Even with Grosvenor out, Anglo American still stands to benefit from its other metallurgical coal production, he said. And Warrior can use other transportation to get its coal to market, meaning the dam and lock outage isn't a showstopper for the company, he said. Peabody will also be able to get its Alabama coal to market, while it also produces Australian coal to sell, he said.
Berman agrees that Warrior and Alpha will be among the biggest beneficiaries as prices move higher. He also adds Australian miner&nbsp;Whitehaven Coal Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/WHITF#OTC">WHITF</a>) to the list.
"Warrior will likely produce a little more free cash flow through the end of this year than I was expecting," Berman says.
Read Next:
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<li><a href="https://www.benzinga.com/news/large-cap/24/07/39651178/canadian-regulators-ok-glencore-teck-resources-deal-future-m-a-sanctions-need-exceptional-circumst">Canadian Regulators OK Glencore, Teck Resources Deal: Future M&amp;A Sanctions Need &#8216;Exceptional Circumstances&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Analyst Color

Commodities

ITOCY

NGLOY

WHITF

Coal Prices Set To Rise When Restocking Begins After US, Australia Mine Outages

ZEUS

Shares of industrial metal stocks are trading higher following softer-than-expected June CPI figures.

The recent North American Battery Series, hosted by J.P. Morgan, provided crucial insights into the battery industry&#8217;s future. The event featured experts and corporations from various segments of the battery value chain. Key themes emerged, shedding light on <a href="https://www.benzinga.com/electric-vehicles">the industry's trajectory</a>, innovation focus, and supply chain strategies.
<h2 class="wp-block-heading">EV Sales Projected To Grow 20%-23% YoY In 2024</h2>
J.P. Morgan&#8217;s Global EV Battery team, led by Parsley Ong, shared an optimistic outlook for global EV sales, projecting a 20%-23% year-over-year growth in 2024.
China will lead this growth, while the U.S. and European markets will align with more muted expectations.
In this light, stocks of China-based EV makers such as Xiaomi Corp (OTCPK:XIACF) (OTCPK:XIACY), Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), Nio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), VinFast Auto Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>), XPeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), Lucid Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) and ZEEKR Intelligent Technology Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>) should be on investors&#8217; radar.
Adequate battery material capacity will support up to a 25%-30% growth rate, with potential temporary price increases if demand exceeds this range. Battery volume recovery will be gradual and weighted towards the second half of the year, with prices bottoming in the second quarter.
Also Read: <a href="https://www.benzinga.com/short-sellers/24/05/38882666/vinfast-auto-surges-30-in-5-days-charts-signal-strong-bullish-trend-more-than-just-a-short-squeeze">VinFast Auto Surges 30% In 5 Days: Charts Signal Strong Bullish Trend, More Than Just A Short Squeeze</a>
<h2 class="wp-block-heading">Battery Innovation Now Focused On Fast Charging &amp; Cost Reductions</h2>
Despite softer growth in EV demand outside China, the full battery value chain heavily invests in scaling and innovating.
Dr. Shashank Sripad from And Battery Aero emphasized the shift in battery innovation objectives from improving range to fast charging and cost reductions. The focus is on enhancing the battery&#8217;s performance, with significant interest in superfast charging and brand reputation.
Novel technologies, while promising, will likely remain limited to electric aviation and high-end EV markets for the next few years due to high costs and specific energy requirements.
Silicon and lithium-metal are the most mature advanced anode options, with the potential to significantly boost specific energy and fast charging capabilities.
Long-term, the industry will shift towards cathode innovation, which has remained relatively unchanged for several years. Popular companies in the cathode materials space include BASF SE (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/BASFY#OTCQX">BASFY</a>), 3M Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), POSCO Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>), and Kureha Corp (OTCPK:KURCF).
<h2 class="wp-block-heading">Competitive Landscape and Cost Dynamics</h2>
The competitive battery supply chain highlights the need for cost improvements and innovation. With some plants operating at only 30% capacity, the focus is on cost competitiveness and advancements in fast charging, higher nickel-content NMC batteries, and higher silicon-content anodes.
Battery costs will fall below $100/kWh, making EVs cost-competitive with internal combustion engine vehicles globally.
<h2 class="wp-block-heading">Impact of Localization Trends</h2>
Recent U.S. tariffs on Chinese exports highlight the geopolitical importance of domestic battery material and cell supply chains. The U.S. prioritizes supply chain localization, particularly for lithium.
Tariffs on EVs, lithium-ion batteries, and natural graphite will increase significantly in 2024. While this could create inflationary pressures for U.S. EVs, it also presents an opportunity for U.S. battery material producers. U.S. EV makers include Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) should see a rise in material cost, to the extent they buck the localization trend.
The Biden Administration's move to increase tariffs underscores the need to build a domestic supply chain for EVs, potentially benefiting U.S. battery startups.
JPMorgan&#8217;s recent note highlighted the battery industry&#8217;s commitment to innovation and cost reduction amid evolving market dynamics. Focusing on fast charging, supply chain localization, and advanced anode technologies, the battery sector will experience significant growth and transformation.
Investors should monitor these trends closely, as they will shape the future of the EV and battery markets.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/05/38889323/chinese-ev-maker-xpeng-to-hold-ai-day-next-week-as-teslas-event-stands-canceled-over-copycat-concern">Chinese EV Maker XPeng To Hold AI Day Next Week As Tesla&#8217;s Event Stands Canceled Over Copycat Concerns</a>
Photo: Shutterstock

Emerging Markets

Analyst Ratings

Tech

BASFY

KURCF

LCID

RIVN

TSLA

XIACF

XIACY

XPEV

EV Market Set For 20-23% Growth, Led By China-Based Companies Like Nio, XPeng, Li Auto: JPMorgan

Shares of metals and materials stocks are trading lower amid a drop in the price of multiple different metals.

POSCO shares are trading higher. Steel stocks have gained recently amid US President Biden calling for increased China steel tariffs.

The energy transition that requires vast amounts of minerals like copper and lithium to move the economy from dependence on fossil fuels to renewable sources of electricity has created a shift in the tension between environmentalists <a href="https://www.benzinga.com/topic/mining">and the mining industry.</a>
Conservation groups find themselves opposing mining projects that aim to extract metals like copper and lithium needed to make electric vehicles, wind farms and solar panels. They worry that, even though the end goal will help decrease carbon emissions, a rush to develop the mines may skirt environmental protections put in place over the years.
One of the latest battlegrounds is the Mining Regulatory Clarity Act. Introduced by Democrat and Republican legislators from mining-heavy states Nevada, Idaho and Alaska, the measure aims to explicitly allow mining companies with claims on federal land to dump rock waste on public land next door, even if those adjacent claims aren't proven to contain valuable minerals.
This has been the practice under the General Mining Act of 1872, which governs hard rock mining of minerals including gold and copper under land owned by the United States and leased by miners.&nbsp;
Over the century and a half of the law's existence, mining has evolved from pickaxes to large industrial operations that remove much more ore and waste rock than the hand-held shovels of yore. Mining companies often deposit that waste on adjacent unprofitable claims rather than on top of land that contains valuable minerals.
Conservation groups have been contesting that. In 2019 a district judge sided with environmentalists and tribes fighting the Rosemont open-pit copper mine in Arizona owned by Canadian miner Hudbay Minerals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBM#NYSE">HBM</a>). In 2022 a federal appeals court upheld the decision that the company's only valid claims were on land it could prove contained valuable minerals, thus preventing the mine from putting waste on other claims in the area.
Also Read: <a href="https://www.benzinga.com/news/mid-cap/24/02/37180661/sibanye-stillwater-explores-use-cases-for-rare-metal-the-auto-sector-needs-less-of">Sibanye-Stillwater Explores Use Cases For Rare Metal The Auto Sector Needs Less Of</a>
Ramifications of the Rosemont decision have been rippling through the mining industry. Based on the precedent, a judge blocked a Nevada molybdenum mine owned by Colorado-based miner New Moly LLC and South Korean steelmaker Posco Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>). Another judge said the Bureau of Land Management erred in its decision to approve the Lithium Americas Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) Thacker Pass project in Nevada but stopped short of vacating the decision.
"If judges use the original outline of the law, there are a lot of mines in the U.S. that could be challenged in this way," Simon Jowitt, mining industry consultant and associate professor of economic geology at the University of Nevada Reno, told Benzinga.
The most vulnerable mining projects are those on public lands that use mining claims for ancillary activities, Collen Clark, a founding partner of law firm Schmidt &amp; Clark LLP, told Benzinga.&nbsp;
The mining industry supports the changes under the clarity act, saying that it will prevent the United States falling behind in its attempt to develop domestic sources of minerals key to the energy transition and national security. Otherwise, the nation will be reliant on foreign suppliers that may not have the strongest environmental or labor laws, they say. Industry officials add that mines are already strictly regulated by environmental protection laws that needn't be duplicated in federal mining reform.&nbsp;
Opponents say the clarity act is a giveaway to the mining industry at the expense of the public and will undermine conservation efforts and damage ancestral land of native tribes.&nbsp;&nbsp;
"It's long past time to update the antiquated 1872 hard rock mining law, but the Mining Regulatory Clarity Act is not the solution," Earthjustice&nbsp;Senior Legislative Representative Blaine Miller-McFeeley said in a statement. "Instead of updating existing law to protect communities, safeguard water resources and protect Indigenous sacred sites, it gives mining companies unprecedented power to hold our public lands hostage for extractive purposes — even without a valid mineral claim."
In the markup session this month, the House Natural Resources Committee added language saying that nothing in the clarity bill gives mining companies the right to operate where they're already prevented, such as in national parks. The changes also say the bill doesn't limit the government's ability to regulate mining, including under the Endangered Species Act.
Whether the bill passes or not remains to be seen, but it has bipartisan support in the House and Senate, as well as support from the national and Nevada mining associations and the U.S. Chamber of Commerce.
The bill's chances of passing depend largely on whether it can be attached to a larger legislative package that has a higher priority in Congress, Clark said.
"It's a very simple clarification aimed at avoiding unnecessary litigation," Laura Granier, partner with law firm Holland &amp; Hart LLP, told Benzinga. "This should be not a party line issue."
Now Read: <a href="https://www.benzinga.com/news/large-cap/24/02/37202611/mining-milestone-peru-gives-nod-to-expansion-of-key-copper-zinc-mine">Mining Milestone: Peru Gives Nod To Expansion Of Key Copper, Zinc Mine</a>
Photo: Shutterstock

Government

Regulations

Politics

Energy Transition Metals At Stake: Potential US Mining Law Update Pits Industry Against Environmentalists

Shares of metals companies are trading lower amid an increase in the US dollar following January inflation data. Concerns over rate cut uncertainty could also impact demand outlook.

POSCO Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) short percent of float has fallen 4.17% since its last report. The company recently reported that it has 707 thousand shares sold short, which is 0.23% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.52 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>POSCO Holdings Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1704818715_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for POSCO Holdings has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing POSCO Holdings's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, POSCO Holdings's peer group average for short interest as a percentage of float is 4.72%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into POSCO Holdings's Recent Short Interest

In the current session, the stock is trading at $90.97, after a 1.11% increase. Over the past month, POSCO Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) stock increased by 3.93%, and in the past year, by 55.14%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1704393013_0.png" alt="Past Year Chart" />

<h3>How Does POSCO Holdings P/E Compare to Other Companies?</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of 14.6 in the Metals &amp; Mining industry, POSCO Holdings Inc. has a higher P/E ratio of 28.28. Shareholders might be inclined to think that POSCO Holdings Inc. might perform better than its industry group. It's also possible that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1704393013_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

A Look Into POSCO Holdings Inc's Price Over Earnings

POSCO Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) short percent of float has fallen 20.0% since its last report. The company recently reported that it has 716 thousand shares sold short, which is 0.24% of all regular shares that are available for trading. Based on its trading volume, it would take traders 8.01 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>POSCO Holdings Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2023/1702670417_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for POSCO Holdings has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing POSCO Holdings's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, POSCO Holdings's peer group average for short interest as a percentage of float is 4.73%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into POSCO Holdings's Recent Short Interest

In the current session, the stock is trading at $92.45, after a 2.06% spike. Over the past month, POSCO Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) stock increased by 20.86%, and in the past year, by 62.06%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2023/1701186374_0.png" alt="Past Year Chart" />

<h3>How Does POSCO Holdings P/E Compare to Other Companies?</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of 15.1 in the Metals &amp; Mining industry, POSCO Holdings Inc. has a higher P/E ratio of 28.6. Shareholders might be inclined to think that POSCO Holdings Inc. might perform better than its industry group. It's also possible that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2023/1701186374_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

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POSCO HOLDINGS INC. Files its Annual Report on Form 20-F

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