The list of super high-quality, top 50 resource stocks is released!

The top 50 high-quality resource stocks were released.

Since the beginning of the year, the three major resource sectors of petroleum and petrochemical, coal and non-ferrous metals have generally strengthened, and the industry index has risen by more than 10%, ranking among the top five in the list of Shenwan's first-class industry gainers, becoming one of the focuses of market attention. Among them, aluminum, copper, gold and other metals performed outstandingly, and stocks such as North Copper, Jiangxi Copper, Hunan Gold, and Aluminum Corporation of China all rose by more than 30%.

The logic behind the rally in resource stocks is the collective explosion of commodities at home and abroad, with a number of important futures prices hitting record highs. As of the latest close, COMEX gold has continued to rise since November 2022, with a cumulative increase of more than 40%, and the main Shanghai copper contract began to rise rapidly in March, with a cumulative increase of 19.25%, exceeding the increase in the past year. WTI crude oil began to retreat slightly in April, rising by more than 20% since the beginning of the year, and the latest cumulative increase is also more than 10%.

The list of the top 50 resource stocks was released

According to the statistics of Securities Times and Databao, from the perspectives of performance, institutional attention, dividends, market value, etc., a number of listed companies in the resource sector with sustained and stable profitability, positive dividends, and leading the industry are screened out, and the conditions are as follows:

1. The average weighted return on equity (ROE) in the past 3 years is more than 10%;

2. The proportion of declared cash dividends in 2023 exceeds 10%;

3. Recent performance is covered by institutional ratings;

4. The total market value exceeds 10 billion yuan.

According to statistics and screening, the top 50 resource stocks include not only traditional energy sources such as thermal coal and oil, but also important new energy resources such as lithium, and aluminum and copper also account for a large proportion of industrial metals. In addition, rare metals such as cobalt, magnesium, titanium, and tin are each selected.

Since the beginning of the year, the stock price performance of the top 50 resource stocks has outperformed the performance of industry indexes, with an average increase of 16.17%, and more than 40% of individual stocks have risen by more than 20%. China Molybdenum and Xinji Energy were among the top gainers, reaching 72.69% and 70.4% respectively.

CMOC's share price has hit a new high since its listing, with a total market value of 185.141 billion yuan, and the company is the world's leading producer of copper, cobalt, molybdenum, tungsten and niobium.

Xinji Energy's main business is coal mining, washing and thermal power generation. In 2023, the company's commercial coal output will be 19.3691 million tons, a year-on-year increase of 5.16%, and the sales volume of commercial coal will be 19.6861 million tons, a year-on-year increase of 8.7%.

The top 50 resource stocks are more willing to pay dividends

Resource stocks such as coal and oil are an important part of dividend assets. From the perspective of dividend yield, the average dividend yield of the top 50 resource stocks in 2023 (calculated based on the total annual declared dividends and the total market capitalization at the end of 2023) reached 4.09%, which is significantly higher than the overall average of the sector of 1.75%. Yankuang Energy, Guanghui Energy, Pingmei and Shanxi Coking Coal all have dividend yields of more than 8%.

From the perspective of the sustainability of cash dividends, 32 of the top 50 resource stocks have paid dividends for five consecutive years since 2019, accounting for more than 60% of the total. Among them, the total cash dividends of PetroChina and China Shenhua have been more than 10 billion yuan for five consecutive years, and the dividend amount of China Coal Energy and Huaibei Mining has increased year by year.

Behind the generous dividends is a strong cash flow support. According to the data, the median net cash flow generated by the top 50 resource stocks from operating activities last year reached 4.115 billion yuan, of which 12 shares exceeded 10 billion yuan, including leading companies in various industries such as Shenhuo Co., Ltd., Zijin Mining, Tianqi Lithium, and PetroChina.

Multi-channel funds are heavily positioned in the top 50 stocks

The top 50 resource stock institutions have attracted more attention, and the number of ratings is more than 3. While receiving more institutional ratings, the top 50 stocks all had heavy positions in the first quarter.

Huafon Aluminum has the highest proportion of shares, with 56 funds piling up heavy positions in the stock at the end of the first quarter, accounting for 18.89% of the outstanding A shares. Yintai Gold, Yongxing Materials, Shenhuo Shares, Chifeng Gold and other stocks are all held by more than 10% of the fund.

As a model of value investment, social security funds and insurance funds also favor resource stocks.

At the end of the first quarter, among the top 50 resource stocks, 14 shares obtained social security funds and insurance funds at the same time, Guanghui Energy obtained 3 social security funds and 2 insurance funds at the same time, and Shenhuo Shares, Chifeng Gold, Shanxi Coking Coal and Xiamen Tungsten Industry respectively obtained 4 social security funds or insurance capital heavy positions.

Institutions are optimistic about the follow-up trend of resource stocks

For the future trend of resource stocks, many institutions continue to express optimism. Guohai Securities Research Report believes that from the follow-up deduction, there are two core points of high dividends of resource stocks, one is limited capital expenditure, and high dividend willingness supports the comparative advantage of ROE;

Haitong Securities Research Report believes that the current round of strong resource products reflects three major logics in the market: first, the recovery of the global manufacturing industry stimulates the expectation of demand improvement, second, the Fed's dovish statement in the early stage triggered the market to "rush" the transaction to cut interest rates, and third, the supply and demand pattern of some commodities has changed. If the resource sector wants to rise further in the future, it needs further event catalysts, and the main catalyst may come from the Fed's interest rate cut policy or the domestic economic recovery exceeds expectations.

Disclaimer: All information content of Databao does not constitute investment advice, the stock market is risky, and investment needs to be cautious.

Editor-in-charge: Ye Shuyun

Proofreading: Wang Chaoquan

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