$100 Stock To Buy For 2008
As an investor I like to purchase stocks that have a price under $50 a share. I do this so my money can buy more shares of a company. There are a lot of stocks that are above my $50 mark and will out gain the lower price shares that I am buying. I just feel better obtaining a larger number of shares for my money, in case I do hit a hot stock, I can enjoy a nice surge by owning mores shares. However, I do keep my eyes out for the higher priced stocks and good thing I did, because I think I found a good one.
The Company is Southern Copper Corporation and their stock symbol is: PCU Their shares are a little over $100 and today’s closing price was $102.24 up $1.10. I see this company being a hot stock for the upcoming 2008 year. A lot of good things make this a solid selection and those nice dividends don’t hurt either. I think they paid out $1.60 on their last dividend payment. The mining they are doing in Mexico is continuing to produce rich deposits of the diffrent types of things they mine for. The company looks for copper, molybdenum, zinc and silver.
Now the one that catches my eye is the molybdenum. Molybdenum is a transition metal and is good for high strength steel alloys. I think the demand for molybdenum is about to increase and we could see new all time highs for this product. It normally sells for around $65,000 a ton and set a record in 2005 at $103,000 a ton. I think in 2008 we might see a sharp increase for the demand of molybdenum. So with Southern Copper Corporation mining for the molybdenum, they make a lot of sense for a stock that is about to take off. I wouldn’t be surprised if the stock increase 30 to 40 percent over the 2008 year. Shares of Southern Copper Corp could be nearing the $150 mark by the Christmas of 2008. So if you have a little extra money to throw at a hot new stock, be sure to look at Southern Copper Corp and see if they make sense for your portfolio.Click here for reuse options!
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