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January 2009



Southern Copper

January 30, 2009 – Comments (3) | RELATED TICKERS: PCU

So Southern Copper (PCU) reported it's earnings today and they weren't so good.  With copper and metal prices down after the commodity bubble popping that's probably not too suprising.  They also cut their capital and exploration budget by over half and are talking about putting projects on hold.  Their dividend is also going to be cut by almost a third to .117/share.  Looks a lot like boom/bust cylce economics to me.  I don't own any shares of PCU and I don't really plan on changing my green thumb, even though it's surly going to cause me some pain.  If you were thinking of buying shares soon I'm thinking you'll get a shot to pick 'em up south of $12 real soon.  With the new dividend rate that would give you just shy of a 4% yield, which is nothing compared to the 9%ish yield they were getting recently but it's not to horrible either.  [more]

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