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Oroco Resource is one of the top-performing copper stocks this year, up over 330% year-to-date.
The company is currently exploring the Santo Tomas Project near Chihuahua, Mexico, where it holds a 62% interest in the project's core concessions.
Unfortunately, for investors, Oroco is now trading at a valuation of above US$0.08/pound of copper for a resource estimate that is not yet NI-43-101 compliant (historical in nature).
This leaves the stock significantly overvalued relative to what's been paid in M&A transactions in the past, with the stock also severely overbought at US$1.50.
Therefore, I see the US$1.50 area as a good spot to book some profits at current levels as the stock looks to have got ahead of itself on a valuation basis.
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