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Southern Copper Corp. Message Board

  • ivanafagina ivanafagina Apr 19, 2011 8:34 PM Flag

    Stock's decline now traced to earnings'miss

    People knew weeks ago that the numbers were a big miss, that

    explains the long decline of the stock. Today's rise is a case of

    "buying on the news, after everyone sold on the rumor." I was

    wondering why the stock went down everyday, even when copper

    was going up. Knew it had to be because of more than Tia Maria.

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    • Actually, there was a brokerage upgrade today which probably caused the up move. That said, you are right that the down move from $49/share was largely caused by knowledge of the huge earnings miss. What I haven't seen from Management or anyone on this board is an explanation of why/what happened? The miss was so big that should be required.

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