My guess is that SCCO is due for a pullback in the short-run. Yo you should really check out https://hotstocks123.blogspot.com, they seem on point with their stocks.
Curious ...... with Copper up today (9/5) 1.2% in early trading why would SCCO be down .9%???
Where is the logical disconnect .... could it be overall market sentiment?
The upside potential for SCCO just got a whole lot more interesting. Yo you should really check out Awe-Som.e.Sto-cks., they seem on point with their stocks.
I would rather own RIO....dividend close to 5% and very diversified company. Also, very strong financials...FCX is a disaster....some SCCO as a pure copper play is not a bad idea either, but the bulk of my money would go to RIO...VALE has had its run...over priced now.
SCCO on track for another long awaited run to $100 as copper prices go higher rest of year. Last time SCCO hit $100 we saw a 3-1 split, as we will this time too.
Nice recent action in copper with SCCO responding ..... hit a new 52 week high on intra-day trading today ..... will it close above $40 today???
Harry Boxer has posted his Charts of the Day video on SCCO at TheTechTrader site noting: Southern Copper Corporation (SCCO) is looking quite good, although it was up just 4 cents, or 2.26%, to 37.93, on 837,100 shares traded. It lbroke out, pulled back and retested, and then really broke out across multiple tops on Friday, followed through on Monday. Immediate target would be a test of 39 1/2, and the mid 40’s, 42 1/2 for starters.
Who says SCCO isn't poised for potentially massive upward movement? Im not sure about you guys but awe.some.stock.s has provided me with some pretty good trade ideas. I messed up executing some of them but thats on me.
Earnings miss but share price rising - will it maintain?
Stock manipulated by the 90% insiders holding, I would not touch this stock!!
Let SCCO get into the $40s already unless you want to lose this share holder
Strikes at Escondida (Chile) and challenges with the government at Freeport Indonesia have to push SCCO up, at least for a couple quarters. Just the economics of shifting demand and rising prices must be a boon for SCCO's stock price
Here's some numbers to think about:
2/10 Copper up about 4.63% and SCCO up 1.66% …. that's a disparity of 2.97%. This AM copper is up 63% so 2.97% +.63% = 3.6%. If SCCO catches up with copper the following is possible … 2/10 SCCO close = $37.34 X 103.6% = $38.68.
IMO this spells potentially good prospects for SCCO.
Latest Yahoo numbers say 97.42% of SCCO is owned by insiders (86.52%) and institutions (10.9%) leaving only 2.58% in the hands of private share holders.
IMO that's a good thing since speculators have only a limited ability to manipulate the share price. So let's hope that SCCO remains out of the limelight and continues its upward trend and outpaces any growth in copper price.
One thing I find curious ...... the very recent drop in copper prices and the very recent spike in lumber prices.
I know moves in commodity prices can be attributed to lots of things but does the spike in lumber price (if it holds) portend future good news for copper????
I'll guess we'll have to wait and see.
Looks to me that things are coming together nicely for SCCO, sales up, costs down, copper up, divi up and capacity coming on-line.
Something to think about ...... the impact of the value of the Sol and Peso on the profits of SCCO.
A nice tail wind IMO.
DAR I know you don't visit this site much any more. But, if you read this post:
Are you considering re-entering SCCO or do you think it's already too late for you? Full disclosure ..... I never left SCCO and suffered through the doldrums but that wait is now paying off nicely.
My current view is that SCCO now has the ability to continue a creep-up perhaps reaching the low to mid 40's this year, a result I'd be very happy with. Why my optimism ..... capacity coming on-line, copper price rising, national leadership policies and hopefully resultant higher profits just to name a few things.
My pie in the sky result would be that with higher profits SCCO would return to their "cash cow" days and increase the dividend or If the 86% insiders decide, they's take the company private at a 15% to 20% premium ...... either way a good result for the remaining private holders.
Your opinions, as always, will be valued.
At these copper prices in the low $2.70s, they should sell most of the forward production out to about a year to 1 1/2 years. This looks like a commodity bubble float to benefit commodity speculators. US demand drivers don't look as strong; weaker housing, idle auto plants, lower consumer retail, FED taking a stronger dollar policy approach, all headwinds for copper. Infrastructure spending is probably a year away, but how much copper demand would that really be?
Is Copper the "new" precious metal? Nice rise in the charts, could it be an economic upsurge is around the corner?