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Southern Copper Stock Sees Highs as Key Project Looms

Matt MonacoAvatar
Written by Matt Monaco Reviewed by Jack Kellogg Fact-checked by Tim Sykes
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“Southern Copper Corporation’s stock surged after record-high copper production and a favorable earnings forecast caught investors’ attention, fueling confidence in the company’s growth potential. On Monday, Southern Copper Corporation’s stocks have been trading up by 6.03 percent.”

Major Developments Impacting Stock Performance:

  • JPMorgan has upgraded Southern Copper to a “Neutral” standing from previously being “Underweight”, acknowledging the anticipated $92.50 target. The recent community engagement has eased long-standing issues concerning the Tia Maria project, showcasing prospects for financial gains.

Candlestick Chart

Live Update At 14:31:46 EST: On Monday, December 09, 2024 Southern Copper Corporation stock [NYSE: SCCO] is trending up by 6.03%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

  • With successful community handling and strategic infrastructure in place, Southern Copper’s Tia Maria venture in Peru is expected to add $800M to EBITDA by 2027, reinstating investor confidence.

  • Tia Maria’s renewed progress forecasts a glimmer of hope for Southern Copper’s long-term profitability, setting ambitious goals as the project plans to start by 2025, following delays.

Quick Overview of Southern Copper’s Financial Health and Market Stance

As any seasoned trader will tell you, emotions can often get in the way of making sound trading decisions. It’s common to feel the pressure of missing out on a stock that’s rapidly gaining in value. However, chasing trades without a solid strategy can lead to significant losses. As millionaire penny stock trader and teacher Tim Sykes, says, “There is always another play around the corner; don’t chase just because you feel FOMO.” Keeping a level head and waiting for the right opportunity can often lead to more fruitful outcomes in the long run.

Delving into recent financial reports, Southern Copper’s quarterly earnings showcase a robust performance. The company reported an operating revenue of approximately $2,930M, alongside a substantial net income of $897M. A tempting dividend yield of 2.8% complements this financial snapshot, providing a glimpse into potential investor gains.

The shifting dynamics within the marketplace are mirrored in SCCO’s stock price, which oscillated between $100 and $106 over the recent days, reflecting both external and internal influences. The current macroeconomic environment, coupled with operational headways at Tia Maria, plays a pivotal role in shaping investor perceptions.

More Breaking News

Currently, Southern Copper maintains a strong asset portfolio with total assets worth around $18.42B. The company’s profitability shines through its EBIT margin of 37.2%, suggesting efficient operations and a sound revenue model. Peering into the balance sheet, the current ratio stands at 2.8, indicating robust liquidity to handle short-term obligations effectively.

Looking at SCCO’s Journey Ahead and Expected Market Movement

An essence of Southern Copper’s strategy involves tackling challenges head-on, carving pathways for forthcoming success. The upgrade by JPMorgan isn’t merely about changing projections but significantly relates to strategic milestones that Southern Copper manages to achieve. The Tia Maria project’s fruition aligns with Southern Copper’s broader growth narrative—fuelling investor momentum.

Southern Copper’s methodologies in garnering community support underscore their adeptness in not just managing mining operations but also in public engagement. This renewed vigor acts as a catalyst, potentially driving stock prices upward in shareholder favor.

Looking at financial metrics more closely, Southern Copper’s net working capital hovers around $3,787M, reflecting capacity for more significant capital undertakings. Southern Copper’s effort in restructuring strategies while balancing financial scrupulousness could very well steer the company towards heightened profit avenues and more secure market leadership.

Conclusion: Southern Copper’s Future Takes Shape

As the dust settles on longstanding barriers, Southern Copper stands poised at the brink of a potentially rewarding endeavor with Tia Maria. Traders, both seasoned and novices, might consider this moment opportune to rethink strategies and evaluate portfolios. As millionaire penny stock trader and teacher Tim Sykes says, “The goal is not to win every trade but to protect your capital and keep moving forward.” This wisdom could guide traders as they navigate the copper market’s dynamics. The harmonization of project competencies with marketplace dynamics forecasts a season of profit ascent for Southern Copper, despite the tremors that global copper demand shifts could bring.

By rendering tangible evidence of adept project management tactics and solid financial figures as the cornerstone, Southern Copper embarks along progressive horizons. This blend of fiscal discipline and visionary leadership unleashes a tectonic potential for Southern Copper, hinting at a trajectory where dreams of copper conglomerate dominance are steadily tailored into reality.

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

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Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”