Technical Analysis on Freeport-McMoRan Copper & Gold Inc. and Southern Copper Corp. - Cloudy Future for Copper
31 Oktober 2012 - 1:00PM
Marketwired
Higher production costs, mining disruptions and soft pricing are
all weighing on the bottom-line of copper producers. Still, some
miners improved production in the quarter and could be well
positioned to capitalize under more favorable pricing conditions.
StBulls.com has initiated technical analysis on
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) and
Southern Copper Corporation (NYSE: SCCO)
which serves the
Copper industry. These
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Southern Copper Co., for example, improved third quarter
production by 3% but net profit still sank 67%. This is not as
discouraging as it looks though. Much of the profit declines can be
attributed to higher legal fees. Assuming legal fees decline and
production increases, the next quarter could look drastically
different. Investors looking for technical analysis on Southern
Copper Corporation are encouraged to use the link below
http://www.stbulls.com/SouthernCopperCorporation31102012.pdf
The future is a little cloudier for miners like Freeport-McMoRan
Copper & Gold Inc. Higher production costs will be a major
concern moving forward but its efforts to up exploration and expand
operations does offer some upside. Avoiding costly labor strikes
will also be key. An uptick in copper pricing could definitely help
improve margins. Read our technical analysis on Freeport-McMoRan
Copper & Gold Inc. by clicking on
http://www.stbulls.com/FreeportMcMoRanCopperandGoldInc31102012.pdf
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