Bens Creek Group (LON: BEN) owns and operates several mines in North America to extract metallurgical coal, which is used in the production of steel rather than power generation.
Demand for steel is anticipated to rise as countries replace old infrastructure with sustainability in mind, so demand for steel-grade coal is likely to remain high.
For more on how to buy shares in Bens Creek, read on for a full guide.
Compare share dealer accounts on Finty. Research fees, commissions, tradable assets, markets, etc.
Step 1: Pick an online broker
When comparing brokers, considerations include brokerage fees, foreign exchange fees, what stock markets are available, tradable instruments (stocks, funds, bonds, etc.), and how comfortable you are using the trading platform. You can compare brokers here on Finty. If you aren’t sure which one to go for, some brokers have demo accounts so you can try them out before committing real money.
Step 2: Fund your account
After you have chosen the broker you want to use, you will need to fund your trading account.
Funding methods vary between brokers, with some offering more choices than others. Bank transfers and debit cards are widely accepted, with credit cards and PayPal less so.
Step 3: Decide how much to buy
Avoid the temptation to spend more than you can afford to lose. Share values are volatile and can fluctuate wildly depending on market conditions.
If you can buy fractional shares, you can allocate however much you want for Bens Creek rather than having to buy whole shares.
Step 4: Choose whether to buy shares or invest in an ETF
ETFs are investments that are exposed to a set of companies, e.g. an ETF could be exposed to an industry like mining, a country, etc. They are typically less volatile than investing in a single stock because of their diversified composition.
ETFs with exposure to the mining and natural resources industry include SPDR S&P Metals & Mining ETF (XME), iShares MSCI Global Metals & Mining Producers ETF (PICK), and Direxion Daily Metal Miners Bull 2X Shares (MNM).
Step 5: Configure your order
The easiest way to buy shares is with a market order, which the broker executes at the next available price.
Most brokers offer the ability to configure orders that are triggered under certain market conditions, e.g. buy or sell shares in a company when its share price hits a pre-defined price.
You can compare available order types for brokers on Finty.
Step 6: Place your order
Now that you are all set up, you can buy your shares in Bens Creek Group.
Positive and negative news stories are likely to have an impact on the price of your shares. If you plan on holding your shares for the long-term, it also makes sense to read official statements, press releases, and Bens Creek Group quarterly results.
More broadly, you can track what their competitors are doing too. The main ones are Teck Resources (NYSE: TECK), BHP (ASX: BHP), and Corsa Coal Corp (CVE: CSO).
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