Copper rocketing, Zinc holding firm, Lead relatively weak. Most of CAML's turnover is from Copper, so absolutely no reason for the share price to be this low.
Cash cost of copper production $0.78 / lb in 2024. So making nearly $4 / lb cash profit per lb produced today.
Annual production ~29 million lbs (13,500 metric tonnes) = ~$116m profit margin on copper at Kounrad.
That alone would more than cover overheads and 18p dividend. |
Up to $4.6 now. |
Copper price now +22% year on year.
Surely helps drive profits substantially and forward guidance next month. Forward P/E is only 7 IMO. |
Well worth a daily read on Cu trading economics:
"Copper futures surged above $4.49 per pound on Friday, scaling four-month highs, as concerns about tightening supply from the world’s largest copper producer, Chile, took center stage. Chile also forecasts rising demand for copper, driven by the energy transition and electrical networks, which further fueled the price increase. However, Chile's copper commission, Cochilco, cautioned that geopolitical tensions and US tariffs could pose risks that might negatively affect the market. Copper prices also found support from a weakening US dollar, driven by easing concerns over a global trade war. US President Donald Trump and Chinese President Xi Jinping are expected to discuss trade issues in an upcoming call, raising hopes that further escalation can be avoided and tariffs may be reversed." |
I said a short while ago that it should have a nice run to 170. |
Well it's 160 and climbing. Should be 2 quid minimum. 11% dividend! |
Had previously bought more at 151 and 154. |
Bought more at 153 |
Good timing ! |
Loving my (maybe final) 148p purchase. |
Quite a strong move on copper prices again |
Copper +17% year on year.
+10% YTD. |
The interview was conducted at the Resourcing Tomorrow conference, 3–5 December 2024. |
Link to interview: |
Excellent armchair trader video with the CEO out. Comes across well.
Will be adding here. |
Closed period probably. |
So why are the Directors not buying in volume at this opportunity? |
According to head of IR all operations are running smoothly and they are also perplexed why share price has been dropped so far. |
IMO I still think copper will do well in the long run.
CAML still appearing on my Stocko High Value, High Dividend and within 52 week lows screen. I recently tweaked the screen to include future 12 month projected EPS growth and yes, CAML passes that also.
Added a few more today based on value, but would be the 'icing on the cake' for me to go overweight, if we got increased volumes and improved relative strength soon. Sharescope showing a consensus price target of 224p, so near 50% down from that.
Good luck with your investments here. |
 SLP used to be a favorite of mine. But then there's been the relentless reduction in prices of Pt group metals, especially Rhodium that was driving the profits of SLP.
With those metal prices going up (only slightly though) and with the Cr project coming online, it could be worth looking at again, especially with the current buy-backs.
There isn't a futures market (is that right?) for Rh, so the scope for volatility for Rh prices is high.
The divis for SLP at 1p + 1p is 4.2% yield (Ok, +1p special divi last year). So better than nothing and should be maintained as (surely) Pt group metal prices aren't going to go lower.
My main issue with SLP is what are the underlying reasons for driving up the prices of those metals (and hence maintaining or increasing the divi)? For CAML, the investment case for Cu is clear. It's certainly not guaranteed (who knows how China's stimulus package is going to work?), but with Cu, there is a clear case for investment (IMO).
SLP also have a lot of capital costs in FY 2025, I think.
Even Zn & Pb, when watching an interview with GF from CAML, he talked about the purity of 1 of those that CAML produces (can't remember which one it was), so much better than other producers.
SLP - good presentation here:
Overall, SLP definitely worth another look (especially if your exposure to metals is not too much already), but the main question is, which metal(s) do you think are going to go up in price and why? This is why I invest in CAML and not SLP now. |
SLP. Platinum, Palladium, Rhodium and now Chrome producer. Net cash of $80M. Dividend payer. |
Trump placing tariffs on copper also. Should see a rise in copper prices. |
Same across the board isn't it. Good stocks not going anywhere fast are sold in favour of what's hot accelerating the drop. The government will be sure to step up and do the right thing. When they've tried everything else. Collect divi payers like Caml seems favourite, interest rate drop is being forecast by many. Suggestions as well as Caml: POLR; CLIG; FSFL; TPFG; TCAP. Some that I hold. One I hope recovers its mojo is Jarvis Invetment Management, been under the FCA cosh for a while because some punters have complained that they've lost money using this execution only broker, who knew that you can lose money. Has been a fantastic divi payer. |
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