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Southern Copper Corp. Message Board

pauly6734 928 posts  |  Last Activity: Jun 28, 2016 12:10 AM Member since: Dec 19, 2003
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  • A few years ago, I bought lots of Steel stock X at 23. It quickly went to 15, yes, same old #$%$, lower price imports, pension liability..etc. then it started to movie up for no reason, I got out at 25 if my memories serve me. Then I watched X with mouth wide open, and hitting my head with a hammer when it went to 47 and change. Then slowly and surely, it came down slowly , and then quickly to 5 ( five ) bucks and change. Then it bounced back to 20, and it is trading now at 15. ABX can move higher, and lower just like X.

  • Reply to

    Upgrade today

    by solohoh Jun 27, 2016 4:11 PM
    pauly6734 pauly6734 Jun 28, 2016 12:00 AM Flag

    They are going to make 56 cents this year, and 74 cents next year, and ABX's book value, yes, all their gold underground, tractors, mining equipments..etc included is 6 bucks. ABX's PE is higher than FB's base on next year's projected earnings. Give me a break! " increasing cash flow, and focus on core business ", they were doing that last year, and this year when the stock is under 6 buck.

  • pauly6734 by pauly6734 Jun 27, 2016 11:48 PM Flag

    These guys are alway wrong: remember they said Gold is going to be 1,500.00 by mid year, and 1,000.00 by Fall? Now, they are saying Gold is attractive. When ABX was at 6, they say avoid the pig like Black Death, they have too much debt, lots more write off coming in South America's money hole...etc, Now, ABX would be at 23 soon, and that was las week, now, 23 is no good, 27 is more like it. There got to be a law against these guys.

  • There is a divergence in the four horseman: Gold, Silver, Platinum, and Palladium. Only gold shines; Platinum is at 900 and change, Silver is at 15, and Palladium is at 500 and change. All the best!

  • Reply to

    Morgan Stanley Sept 3, 2014

    by pauly6734 May 12, 2015 1:01 PM
    pauly6734 pauly6734 May 12, 2015 1:03 PM Flag

    The same flicking moron just said SELL SELL SELL not long ago, and look at what he said last September.

  • Shares of US Steel (NYSE: X) and others in the steel sector are stronger Wednesday following positive comments Morgan Stanley analyst Evan Kurtz, who sees a paradigm shift in the industry and, as a result, upgraded the sector to Attractive and raised company price targets by an average of 40%.

    The firm's top picks in the sector are Overweight-rated US Steel and Steel Dynamics (NASDAQ: STLD). Kurtz raised his price target on US Steel from $35 to $60 and his Steel Dynamics price target from $21 to $28. Meanwhile, he raised his price target on Equalweight-rated AK Steel (NYSE: AKS) from $5 to $10 and Nucor Corp. (NYSE: NUE) from $58 to $62. Underweight-rated Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) had its target cut from $28 to $25.

    Kurtz sees a runway to mid-cycle. "We believe the era of significant mini-price cycles in the US is ending and the steel market is approaching healthier mid-cycle conditions. Utilization has just reached ~80%, with more upside to the ~85% typical at mid-cycle."

    On the paradigm shift, Kurtz said, "Mini-cycles stemmed from poor pricing discipline, import order patterns, lean inventories, and short lead times. We believe the impact from the first two will be muted by consolidation and new trade restrictions. Improved supply-demand will alter the inventory and lead time environment. We expect these changes to lead to higher operating rates, less volatile pricing, and better fixed cost absorption. On average, our price target moves factor in a 15% improvement in mid-cycle EBITDA and a 6% increase in mid-cycle multiples."

    Five factors cited for the industry upgrade were:

    1) Further consolidation
    2) A return of capacity utilization to the 80%+ range
    3) New import duties and potential for further cases
    4) Improving underlying demand
    5) A structural increase in service center inventories

    Elaborating on industry consolidation, he notes there have been two major M&A transactions that materially increased market share concentration among flat-rolled mills. ArcelorMittal and Nippon Steel & Sumitomo Metal acquired ThyssenKrupp Alabama, while AK Steel and Steel Dynamics each acquired one of Severstal North America’s two mills. They expect consolidation to continue, with Gallatin Steel reportedly up for sale according to Steel Market Update. The analyst views consolidation as healthy for the steel industry and sees Gallatin being a strong match for either Steel Dynamics (regional fit) or US Steel (head start on EAF strategy). The analyst likens steel industry consolidation as similar in nature to the recent transformation of the airline industry.

    Overweight price target of $60.00 (from $35.00)

    For an analyst ratings summary and ratings history on US Steel click here. For more ratings news on US Steel click here.

    Shares of US Steel closed at $38.14 yesterday.

  • Schwab covered my stock short position ( calls assigned ) without even calling me; they can's find any shares to short even at 11% interest charges. I think I am going to go long at 16.5 and below. Looks like CLF will maintain their 4% dividend yield, and bankruptcy is not here yet.

  • Reply to

    CLF Up In A Market Crash day

    by airlinegy Jul 31, 2014 1:34 PM
    pauly6734 pauly6734 Jul 31, 2014 1:57 PM Flag

    It is call short covering.

  • The option market tells the story. There are little interest anywhere in August, with puts open interest and volume outpacing the calls. Trading range 18 to 15.5 for the nest three months. The directors/CEO BS is just a red herring.

  • pauly6734 by pauly6734 Jul 29, 2014 10:02 AM Flag

    Sell the new, there is no reason for this dog to go any higher. August will be brutal!

    Sentiment: Hold

  • Reply to

    20% spike tomorrow?

    by stockmeisterl03 Jul 28, 2014 4:44 PM
    pauly6734 pauly6734 Jul 29, 2014 3:54 AM Flag

    Exactly! Replacing incompetent guys with blood suckers, real smart move indeed!

  • pauly6734 pauly6734 Jul 13, 2014 12:21 PM Flag

    I agree! This unhealthy spike meant a little short covering, and nothing more. I am not sure this dog would retreat to the teens, but retest of 22.5 is possible when the general market corrects. NUE, and STLD shows a lot less reaction, and NUE can't even finish in the black.

  • Reply to

    Technically shorting is a bad idea

    by pope_of_wall_street Mar 24, 2014 4:21 PM
    pauly6734 pauly6734 Mar 24, 2014 8:53 PM Flag

    Gold ran from 1190 to 1390,and GLD followed; #$%$, it needs to take a break.

  • pauly6734 pauly6734 Mar 1, 2014 4:27 PM Flag

    That is not how he operates; he does not have to.

  • Alert! Get the f out now!

  • Reply to

    Overbought!

    by seb_777 Feb 13, 2014 3:57 PM
    pauly6734 pauly6734 Feb 14, 2014 11:07 AM Flag

    I always look at FCX; this dog has the biggest capitalization and it missed the big rally this week. GG is way too expensive, and there is no justification for this move. That said, what do I know?

  • Reply to

    Overbought!

    by seb_777 Feb 13, 2014 3:57 PM
    pauly6734 pauly6734 Feb 14, 2014 10:57 AM Flag

    I agree, last time it rallies to 27.75 on Sep 6, 2013, but this time the pull back could be smaller, 23-24 is reasonable; way overdone this time with this crazy week.

  • X is supposed to earn 1.78 this year, and 2.30 next, but so what? Give this dog a 10X PE: 18 price target this year and 23 in 2015. There are better stocks somewhere else.

  • pauly6734 by pauly6734 Feb 11, 2014 9:28 AM Flag

    Strong sell at 16 five months ago, why promoting X now, ask holdes!

  • ..going lower. It is acting just like last year this time, straight down till June. House of pain till October 2014. Fduck you: Zack, and Seeking Alfa..etc.

SCCO
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