The S&P Materials sector closed this week marginally up at +0.19%, with the Materials Select Sector SPDR (NYSEARCA:XLB) taking a slip dip at -0.24%.
Gold prices (XAUUSD:CUR) were the highlight this week, crossing the $1,900 per oz mark and closing positive in all but three sessions so far this month. The commodity has also touched a fresh eight-month high as investors have gravitated toward the risk-off instrument with inflation concerns continuing to swirl around the market.
SA contributor Mike Fay noted that global uncertainty could also push silver prices (XAGUSD:CUR), with conditions in Russia/Ukraine and Canada fueling investor movement towards precious metals. Silver closed at $23.91, around 2.4% higher than the start of the month.
Uncertainty in Canada also drove up lumber futures (LB1:COM) to their highest in a month, with two top Canadian producers curtailing output and transportation snags disrupting shipments to customers.
Huntsman (NYSE:HUN) +12.75%; Huntsman reported the “best year in history” with Q4 results beating earnings and increasing shareholder returns.
Century Aluminum (NASDAQ:CENX) +12.62%; Like other aluminum stocks, Century have had an impressive February so far, up +24.52% as the metal’s prices (LMAHDS03:COM) reached 13-year highs.
Emx Royalty (NYSE:EMX) +12.50%; This week’s gold rally have driven Emx, Barrick and Yamana Gold to the top gainers list.
Barrick Gold (NYSE:GOLD) +11.63%
Yamana Gold (NYSE:AUY) +11.34%
Albemarle (NYSE:ALB) -17.13%; Recent pressure on U.S. benchmark WTI crude oil futures (CL1:COM), which marked their first weekly decline in nine weeks, have pushed down Albermarle’s shares.
AdvanSix (NYSE:ASIX) -16.99%; AdvanSix reported its Q4 results, targeting significant earnings growth in 2022. It also agreed to acquire U.S. Amines in a ~$100M all-cash deal.
Coeur Mining (NYSE:CDE) -16.73%; The company missed Q4 earnings by a wide margin, guided gold production lower, guided capex higher, and talked around an equity issue.
Largo (NASDAQ:LGO) -13.86%; Shares are down -44.91% in the past 12 months.
Ternium (NYSE:TX) -12.11%; The company missed estimates for Q4 earnings and revenue and projected a sequential decrease in Q122 EBITDA.
Other materials ETFs to watch: iShares Global Timber & Forestry ETF (NASDAQ:WOOD), Materials Select Sector SPDR ETF, Vanguard Materials ETF (NYSEARCA:VAW), iShares Global Materials ETF (NYSEARCA:MXI), SPDR S&P Metals and Mining ETF (NYSEARCA:XME), VanEck Vectors Gold Miners ETF (NYSEARCA:GDX), iShares MSCI Global Gold Miners ETF (NASDAQ:RING), Global X Copper Miners ETF (NYSEARCA:COPX).