RE:RE:Negative forces Share price over the past few years was driven by a combination of assets (not really) and EPS. With copper heading north and EPS showing a price that should have been far higher than it was, with incredible potential for upside, the price headed north.
Current share price, just read the financials. Dismal quarter, another forecast, and maybe another. Then will need to confirm with a solid quarter with good grades and good tonage.
Some factors not helping were the lack of a pro report, which in hindsight was material news, that the CEO knew about, when he sold his shares (only 3%). The timing of the sale and the non release of the pro report were very bad optics. Luckily most will not put those two together, but it does affect investor confidence when material information is withheld from the shareholders (owners?) of the company, while insiders sell on insider news.
Other factors to keep in mind are the potential for news from Florence, but most of that is known at this point. Drilling next door? JV on NP with someone that can actually form a relationship with the locals?
The NPV of the company has not changed, it is at minimum over 5B, with current market cap at 400m, a wee discrepancy.
For short term investors there may be some more "catch a falling knife" days.
If you are long, the overall long term copper situation has not changed, the assets have not changed.
I do not see the current situation changing until a bottom is reached and TKO shows they have grade, tonnage, and costs all back in line.
If your long, stop watching for a while, will be better on your heart.
If looking to get in, or increase holdings, it will bottom, but picking that is about as easy as picking tops, so just look at the asset base, potential, and jump in anytime your comfortable.
If copper goes to $3.50, then $4, then $5, well, if you cannot figure the results of that, you should be in tech stocks or something else.
Still lots of variables, always is.
KW