TMN - Copper

Copper Market Set for Consolidation Around $4.3500

Quick Look:

  • Copper is poised for consolidation at $4.3500; MA55 indicates stabilisation.
  • The stochastic indicator shows potential bullish momentum ahead.
  • Analysts target $4.5500 and $4.6800, with $4.3500 as a crucial support level.

The copper market is currently moving toward consolidation around the $4.3500 level. Simultaneously, the MA55 moving average indicates a stabilising trend. Recent movements in the stochastic indicator suggest the market is exiting oversold territories, signalling potential bullish momentum ahead. Analysts are eyeing target levels of $4.5500 and $4.6800, with $4.3500 as a crucial support level.

The experts are forecasting the trading range for copper to have support at $4.3000 and resistance at $4.5500. The overall trend anticipation remains bullish. Especially considering technical indicators and market sentiment.

Southern Copper (SCCO) Stock Closes at $107.73, Down 0.97%

In the latest trading session, Southern Copper Corporation’s (SCCO) stock closed at $107.73, marking a decrease of 0.97%. In contrast, broader market indices saw modest gains, with the S&P 500 and Dow Jones increasing by 0.09% and the Nasdaq up by 0.3%.

Over the past month, SCCO has experienced an 8.95% decline in stock price. This performance is notably worse than the broader basic materials sector, which fell by 4.67%, and the S&P 500, which saw a gain of 3.38%.

SCCO Projected EPS $1.16, Revenue $2.93B

Southern Copper’s upcoming financial results will show an EPS of $1.16, representing a 65.71% increase from previous estimates. Revenue is projected to be $2.93 billion, reflecting a 27.14% year-over-year growth. For the full year, analysts anticipate an EPS of $4.33 and revenue of $11.46 billion, indicating increases of 39.23% and 15.77%, respectively.

Recent revisions have increased the EPS estimate by 12.07%, and the stock currently holds a Zacks Rank of #3 (Hold). The forward P/E ratio stands at 25.12, significantly higher than the industry average of 15.39, while the PEG ratio is 1.16 compared to the industry’s 0.76. This positions SCCO in a robust valuation stance within its sector.

Southern Copper’s Industry Ranks in the Top 20%

The Zacks Industry Rank places Southern Copper’s industry at 48, positioning it in the top 20% of all industries, underscoring its favourable outlook in the current market environment.

Great Southern Copper (GSCU) recently experienced a substantial price drop of 23%. The stock trades between a low of GBX 1.29 ($0.02) and a last trade of GBX 1.35 ($0.02). This downturn was accompanied by a significant decrease in trading volume, with current volumes at 159,132 shares, a 37% decline from the average of 254,173 shares. The previous close was at GBX 1.75 ($0.02).

GSCU Market Cap £4.56M, P/E -140.00, Beta -0.51

Great Southern Copper has a market capitalisation of £4.56 million and a P/E ratio of -140.00, highlighting its negative earnings. The stock’s beta is -0.51, indicating lower volatility than the market. The 50-day moving average stands at GBX 2, while the 200-day moving average is at GBX 2.27, above the current trading price.

Great Southern Copper focuses on exploring and evaluating copper and gold deposits in Chile. Its key projects include the San Lorenzo project, covering 25,680 hectares northeast of La Serena in northern Chile, and the Especularita project, spanning 13,799 hectares south of San Lorenzo.

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