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Southern Copper (SCCO +0.6%) is now Citigroup's preferred America's copper exposure and is...

  • Thursday, December 6, 2012, 12:46 PM ET
    Southern Copper (SCCO +0.6%) is now Citigroup's preferred America's copper exposure and is raised to Buy in tandem with a downgrade of Freeport McMoRan (FCX -4.2%). SCCO operates true Tier 1 copper assets with cheap growth potential and minimal sustaining capex requirements, the firm writes; a near-term risk is that labor contracts in Peru need to be renegotiated in 2013.
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This news story has 3 comments:

  •  
    Ridiculous, given SCCO's single country exposure.
    6 Dec 2012, 01:10 PM Reply Like
  •  
    This is ridiculous. This is nothing more than Citigroup, Blackrock, etc. throwing a tantrum because they weren't privy or allowed forewarning. This is an excellent longterm move by FCX that increases it's reach and capability.

    All this does is create a fine buying opportunity.
    6 Dec 2012, 03:25 PM Reply Like
  •  
    MMR has failed to produce for some time....they do have a lot of wells drilling at a huge cost....Jim Bob Moffet has done very well over the years....seems they need to hit oil instead of gas....Scco is a well run low capex company..low cost copper machine without the MMR head ache.
    7 Dec 2012, 08:29 AM Reply Like
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