Southern Copper Is Red Hot This Year

Summary

• On the heels of the rising price of copper, Southern Copper stock is already up a whopping 25% this year.
• A falling U.S. dollar and the re-opening of China are two bullish catalysts that are likely to continue this year.
• Meantime, the EV transition continues to accelerate and the Biden administration's Infrastructure, CHIPS & Science, and IRA Acts are long-term positive catalysts.
• That being the case, the rally in SCCO shares is likely to continue, although I would not be surprised to see some profit-taking this week.

sykono

The U.S. dollar is falling, the price of copper is rising, and Southern Copper (NYSE:SCCO) stock is already up 25% over the first two weeks of this year (see below). Yet despite the stock's meteoric rise, and the very strong fundamental backdrop, SCCO

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I am an electronics engineer, not a CFA. The information and data presented in this article were obtained from company documents and/or sources believed to be reliable, but have not been independently verified. Therefore, the author cannot guarantee their accuracy. Please do your own research and contact a qualified investment advisor. I am not responsible for the investment decisions you make.