Don’t sleep on Canada’s top mining stocks as other investors chase what’s hot in the tech scene. Nobody knows how long tech’s run has to go as run into 2024 with a newfound sense of hope and optimism. Sure, rates could be much lower a year from now, but just how much of the lower-rate world is priced into the hottest corners of the tech sector?
Though a 100% repeat of 2022 is highly improbable (it seemed like rates could only climb higher back then), I think the commodity miners (along with other sorts of value plays) could have a chance to outshine high-multiple tech plays again.
Various miners haven’t done too great this year, and as we head into a new year and a clean slate, I’d look for such plays to unearth potential gains (pardon the pun, folks!) for long-term investors.
Without further ado, please consider shares of Nutrien (TSX:NTR) and Cameco (TSX:CCO), two very different miners that could fare well in 2024…
