RE:RE:RE:FR is a different company after Q resultsto be honest MD its doesn't matter if I know anything about what chart I'm looking at all you need to know is the capital flow that is in play, nothing else.
you just don't get it do you, on paper company abc could be the best company to own in a mining sector , just like a sprots team on paper should win the big game but doesn't,,,,yet its performance lags its peers, why, the street players are not behind the story and in this case the story for FR has changed
look at KL as a perfect example its up 100% YTD why? and its a gold miner! ,,,because the street players are behind the story and their story keeps getting better and if you trade KL off a sma 12 as I do your up 70% YTD
even a complete idiot knew FR was going to have a weak Q report because of the labour dispute effecting production but thats not all the negative news, read again!
FACTS: yes revenue was down due to the labour dispute which obvioulsy effected production which FR can not make up unless there are now 48 hours in a day
Peso stronger during the quarter but of course K.N. knows 80% of FR's costs are in pesos but NO hedging was done.....??
poor revenue has FR management reducing capital expenditures by $17.5 mill for the year, not exactly bullish
Our focus in the second half of 2017 remains to be the construction of the new roaster system at our La Encantada mine which is on schedule for commissioning in the first quarter of 2018 as well as the renewed investments in underground development which has been lacking over the past few years. This increase in underground development, which started in mid-2016, will have a direct impact on improving production, however, the positive impacts of these types of investments are generally delayed by 12 to 24 months.”
AISC in Q1 were $12.21 now its $14.58 and total production cost per ton was $44.72 now its $51.53...again not bullish going forward
Facts vs Spin....the players don't hammer FR shares down by 18% because the company had 1 bad Q based on a labour dispute....dig a little deeper and do some DD
https://ca.finance.yahoo.com/news/first-majestic-reports-second-quarter-222134203.html
again it doesn't matter if you or I think FR is the greatest mining company on the planet PRICE is everything and the flow of capital is obviously exiting until it returns and nobody knows when that will be.
CPG is an energy stock widely traded here in Canada, energy investors loved the stock for years, its a different company today and the sma @ 10 and the sma of 45 has protected one from huge losses regardless of personal opinions towards the company its down 50% ytd
regardless of the experts calling for $55-$60-$70 oil the sma of 10 saved investors from steep declines trading CPG just as it has with FR as FR is not down 66% over the last year because capital is flowing into the stock!!!....OPINIONS mean nothing Price is everything and you and I don't set the price the street players do
CPG
https://tinyurl.com/y89kta6t