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Southern Copper Corp. Message Board

  • briantrader2 briantrader2 Jan 11, 2013 10:25 AM Flag

    Check out MCP since it way oversold this week

    MCP has had MASSIVE insider buying in past 4 months with millions purchased by the likes of Molibdenos y Metales. It has a book value of about $11.60 and is now $8+ after being candid about pricing and delaying an expansion project until prices justify it (and which shorters argued would require dilution if it did). Instead of going up, shorts attacked (now going up again).
    Bloomberg noted on Monday that it has takeover target potential since it is selling under book ( $11.60) today it is ~$8 and rising a bit from day's low.
    Pros:
    MASSIVE insider buying in past 4 months (millions purchased, e.g., by Molibdenos y Metales).
    It finished 2012 with an expansion that will increase 2013 production 4x over 2012.
    It is vertically integrated, only about half its value comes from mining (ignored by many).
    It already has orders for most if not all of its recently increased production.
    The main detractor, Michael Gambardella has a success rate is 43% (3 out of his 7 recommendations) and success has been short term with MCP in past.
    Knee jerk sell offs are often easy money on the rebound and this 31% drop is overdone since the news was mixed to good (no dilution).

    I'm posting in hopes that we can counter over-zealous shorts (a battle since August)

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