Thursday, 24 July 2014

FCX, TCK - mixed miners

Whilst the broader market saw some mixed chop, the miners were similarly mixed. Freeport McMoran (FCX), slipped -2.7%, whilst TCK jumped 1.2%. Near term outlook is choppy, but mid term outlook is bullish.

FCX, daily

TCK, daily


FCX was downgraded today by BoA/Meryl L.

TCK jumped on earnings.

Suffice to say, I am a big fan of both companies...whose longer term outlook appears secure.

If you consider that commodity prices are likely to push higher from current levels - along with a broadly rising equity market, then these two miners are rather attractive at these levels.

Upside targets...

FCX, $50 - back to the high from early 2011.
TCK, $30/35 zone.....  

Both targets look very viable by spring 2015.