The Relative Strength (RS) Rating for Southern Copper moved up into a higher percentile Tuesday, as it got a lift from 68 to 74.
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IBD's unique rating tracks share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks tend to have an 80 or better RS Rating as they begin their biggest climbs. See if Southern Copper can continue to rebound and clear that threshold.
Southern Copper broke out earlier, but has fallen back below the prior 108.31 entry from a cup without handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to take shape. Also understand that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
The company showed 0% earnings growth in the latest quarterly report, while sales growth came in at -2%.
The company earns the No. 6 rank among its peers in the Mining-Metal Ores industry group. Cameco, Hudbay Minerals and Ero Copper are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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