April 29, 2013 11:04 AM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
In a report published Monday, Credit Suisse analyst Santiago Perez Teuffer assumed coverage on Southern Copper Corp. (NYSE: SCCO) with an Outperform rating and $43.00 price target.In the report, Teuffer noted, “We are assuming coverage on SCC, reiterating a US$43.0 target price per ADR and an Outperform rating-still, highlighting a transitional year. We are expecting SCC to increase copper production substantially on the next 4 years, achieving a 15% CAGR in production from '12 to '16, while keeping COGS under control. The latter will be aided by the two combined cycle power plants that Gmexico is building in the Northwest of Mexico, and that will provide SCC's Mexican operations with 100% of its energy needs. Shaving dividend expectations for 2013/14, on those years we estimate a yield at 3-4% as SCC is on the most intensive CAPEX phase in its history. New Mexican Mining taxes, a reality. We are incorporating a new royalty, which assumes a 5% charge on Ebitda from Mexico, which we expect to be effective in '14. We are also penciling in our new copper price assumptions: ~10% trims on 2013 and 2014 and a 20% increase in LT prices.”Southern Copper Corp. closed on Friday at $32.89.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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