iShares MSCI Global Metals & Mining Producers ETF

PICK

Market cap $2.28B

Family offices poured more than $3 billion into tech, media, and telecom companies. But materials attracted the most capital—$4.8 billion.

Japan Prime Minister Sanae Takaichi is set to hold talks in Canberra ​on Monday with Australian counterpart Anthony Albanese, ‌at which energy security and rare earths cooperation are likely to be high on the agenda.

ISM shows strongest expansion since 2022 — but inflation is a big problem

Governments around the world are treating metals and minerals as strategic assets, and that shift is creating a structural demand floor that did not exist a decade ago.

The iShares MSCI Global Metals & Mining Producers ETF (PICK) faces short-term headwinds from inflation and geopolitical conflict, particularly the Iran situation. PICK's portfolio is concentrated in mega-cap diversified miners and steel/copper names, with economic risk tied to global construction and China-driven demand. Valuations for PICK's top holdings are fair and supported by strong quant ratings, but cyclical risks and high volatility warrant caution.

The iShares MSCI Global Metals & Mining Producers ETF ( NYSEARCA:PICK ) has surged 66% over the past year, climbing from roughly $35 to $58 per share.

PICK: Downgrading Global Miners ETF On Surging Price And Valuation

iShares MSCI Global Metals & Mining Producers ETF has surged over 26% since May 2025, outperforming the base metals composite. PICK benefits from strong Q3 and year-to-date gains in copper, aluminum, tin, and other base metals, reflecting robust sector fundamentals. The ETF offers leveraged upside to base metals, supported by structural copper deficits, Chinese demand, and global energy transition trends.

The iShares MSCI Global Metals & Mining Producers ETF provides diversified exposure to global metals and mining producers, excluding gold, silver, and uranium. PICK is more value-oriented and less volatile than XME but has underperformed due to currency headwinds and lack of precious metals exposure. PICK is suitable for investors seeking metals and mining exposure without gold and silver, especially if they already hold precious metals elsewhere.

I reiterate my buy rating on iShares MSCI Global Metals & Mining Producers ETF, supported by attractive valuation, high EPS growth, and a compelling PEG ratio under 1.0x. A falling dollar and international exposure provide macro tailwinds, with metals and mining stocks benefiting from currency translation and global demand. Technical indicators, including a golden cross and a bullish reverse head and shoulders pattern, suggest near-term upside potential for PICK toward a $47 price target.