SFR has been performing well operationally, but as we’ve pointed out a few times over recent months, it likes to retreat ~30%, and now it’s done it for a third time in less than 3 years. We believe SFR is now financially strong enough to fund growth, return capital and retain meaningful leverage to higher copper prices – assuming they are in the offing.
Technically, we like SFR if it dips below $18, or it breaks back above $20.75, not overly wide parameters in today’s market.
- We like copper stocks after their sharp pullback, including SFR, which we already own.
MM is long and bullish on SFR
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