SFR rallied back above $20 on Wednesday although it lacked the same gusto as BHP and some of the other gold names. SFR is almost 30x smaller than BHP by market cap hence it doesn’t enjoy the same degree of buying flows from ETFs as the Big Australian, but it will remain firm assuming the copper price is strong – just imagine where the miners would be if Chinas economy was on fire!
- We can see SFR testing/breaking $22 in the coming months, or 10% higher : MM owns SFR in its Active Growth.
MM remains bullish towards the SFR around $20
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