iShares PICK ETF - A Great Way to Invest in Global Mining Companies
๐๐๐$iShares MSCI Global Metals & Mining Producers ETF(PICK)$ is great way to gain global exposure to the largest and strongest mining companies. These Mining Giants are involved in the extraction and production of diversified metals, aluminium, steel and precious metals and minerals excluding gold and silver.
Iron ore is used in making steel which is crucial to commercial construction. Copper is essential to electrical equipment, industrial machinery and construction. Aluminium is used to manufacture goods as diverse as window frames, drink cans and aeroplane parts. Coal is used in electricity generation and is an important component in the manufacture of steel.
The Top 10 holdings include $BHP GROUP LTD(BHP.AU)$
$Rio Tinto PLC(RIO)$ Glencore PLC, Freeport McMoran Inc, Vale, Nucor Corp, Anglo American PLC, Posco, Rio Tinto Ltd and Fortescue Metals Group.
Top 10 holdings weightage is 51%
I like that PICK ETF is well diversified into 266 mining companies.
Top 10 countries include Australia at 25%, USA at 19%, United Kingdom at 16%, Canada at 5%, Brazil at 5%, Japan at 4%, South Korea at 5%, India at 3%, South Africa at 1% and Taiwan at 1%.
PICK ETF pays dividends every 6 months. The current dividend yield is 4.5%. It goes Ex Dividend on December 20, 2023.
The expense ratio is 0.39%.
BHP is the Top Mining company in Australia and occupies the number 1 spot in the ASX 200 index with a 10% weightage. BHP works in over 90 locations over 6 continents but is mainly concentrated on Australia and Canada. BHP produces essential commodities through their assets in iron ore, copper, nickel, potash and metallurgical coal. BHP also owns $WOODSIDE ENERGY GROUP LTD(WDS.AU)$ which is the largest oil and gas company in Australia.
$Rio Tinto Ltd(RIO.AU)$ is a global diversified mining conglomerate with assets in iron ore, copper, aluminium, diamonds, gold and industrial minerals which includes coal and uranium.
Performance wise, PICK ETF is up 4% in the past month and 17% in 1 year. Based on 268 Wall Street Analysts, PICK is a Buy, the average target price is USD 43.86, representing a 10% upside potential.
In the current volatile market, $iShares MSCI Global Metals & Mining Producers ETF(PICK)$ provides me with a diversified approach to investing in the Big Global Mining companies and minimises my risk in single stocks. At the last closing price of USD 39.47, $iShares MSCI Global Metals & Mining Producers ETF(PICK)$ gives me the maximum bang for my bucks. Best of all, $iShares MSCI Global Metals & Mining Producers ETF(PICK)$ pays nice juicy dividends every 6 months. That's my favourite kind of stock.
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