Southern Copper Stock Recovery Gone Too Far?
- Date: 25-Sep-2020
- Source: Forbes
- Sector:Financial Markets
- Country:GCC
Southern Copper Stock Recovery Gone Too Far?
An employee collects copper concentrate ore samples before at the Southern Copper Corp. smelter ... [+] facility in Ilo, Peru, on Friday, Jan. 27, 2017. Photographer: Dado Galdieri/Bloomberg
© 2017 Bloomberg Finance LP
We believe there may be better opportunities than Southern Copper Corp stock (NYSE: SCCO) at the present time. SCCO trades at $44 currently and it has gained more than 5% in value so far this year. It traded at a pre-Covid high of $38 in February, and it is 16% above that level now. Also, SCCO stock has gained around 90% from the low of $23 seen in March 2020, as copper prices have shot up significantly over the last few months - rising from $2.10/pound in March 2020 to over
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