Upfront, I got in at $2.70 a few months back... happy to buy a few more at current prices.
Citigroup (as of 30 October) still rates ABY as a $6.14 stock (current production + growth, BUT they are not impressed with management's lack of communication).
They also like Copperco, with decent upside.
Though not quite so sexy as other metals, copper has a decent future. From Macquarie's newsletter today ...
Resources • Overnight there was an earthquake in Chile overnight measuring 7.7 on the richter scale, representing one of the worst earthquakes in the region in recent years • The region producers ~4mtpa of copper, equivalent to 25% of world supply. • Latest reports are mixed. Local villages reporting power lines down and damage to roads. Codelco has reported minor damage. Freeport closed their 3 mines when they lost power but have now reopened 2. • With the copper price moving sharply higher, this highlights that whilst the copper market on our numbers is in small surplus that given the very low inventory levels, it will remain sensitive to any supply disruptions
ABY Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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