Long Position on SCCO @ $78.50 on 5/13/2021 (Momentum)

Southern Copper Corporation (SCCO) engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile.

The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc and lead.

It operates the Toquepala and Cuajone open-pit mines, and a smelter and refinery in Peru; and La Caridad, an open-pit copper mine, as well as a copper ore concentrator, a SX-EW plant, a smelter, refinery, and a rod plant in Mexico.

The company also operates Buenavista, an open-pit copper mine, as well as two copper concentrators and two operating SX-EW plants in Mexico.

In addition, it operates five underground mines that produce zinc, lead, copper, silver, and gold; a coal mine that produces coal and coke; and a zinc refinery.

The company has interests in 59,252 hectares of exploration concessions in Peru; 503,104 hectares of exploration concessions in Mexico; 229,312 hectares of exploration concessions in Argentina; 27,353 hectares of exploration concessions in Chile; and 7,299 hectares of exploration concessions in Ecuador.

Shares have formed a bullish "cup and handle"aas copper prices hover near an all time high. Higher share prices are expected for this stock.

Entry Point: $78.50

Stop Loss: $74.50

Trading Range: $31.38 - $83.29

Target Price: $86.50

Position closed on 9/1/2021 at price of $74.30 with a -5.35% loss in 111 days.

Back to Portfolio