Analyst Rating Update on Southern Copper Corporation (SCCO)

Southern Copper Corporation (NYSE:SCCO) : Zacks Investment Research ranks Southern Copper Corporation (NYSE:SCCO) as 2, which is a Buy recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 10 research analysts is 2.8, which indicates as a Hold.

Southern Copper Corporation (NYSE:SCCO) : Average target price received by Southern Copper Corporation (NYSE:SCCO) is $29.89 with an expected standard deviation of $2.32. The most aggressive target on the stock is $33, whereas the most downbeat target is $26. 9 financial analysts are currently covering the stock.

Company shares have received an average consensus rating of Hold for the current week Also, Goldman Sachs initiates coverage on Southern Copper Corporation (NYSE:SCCO) The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency announces the price target to $27 per share. The rating by the firm was issued on June 9, 2016.

Southern Copper Corporation (NYSE:SCCO): stock turned positive on Tuesday. Though the stock opened at $25.76, the bulls momentum made the stock top out at $26.22 level for the day. The stock recorded a low of $25.72 and closed the trading day at $26.09, in the green by 2.23%. The total traded volume for the day was 1,392,425. The stock had closed at $25.52 in the previous days trading.

In an insider trading activity, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Southern Copper Corp/, Rocha Oscar Gonzalez had purchased shares worth of $207,280 in a transaction dated on November 27, 2015. A total of 8,000 shares were purchased at a price of $25.91 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Southern Copper Corporation is a copper producer. The Company produces copper, molybdenum, zinc and silver. The Company operates in three segments: Peruvian operations, Mexican open-pit operations and Mexican IMMSA unit. Peruvian operations segment includes the Toquepala and Cuajone mine complexes and the smelting and refining plants, including a precious metals plant industrial railroad and port facilities that service both mines. Mexican open-pit operations segment includes the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a precious metals plant and a copper rod plant and support facilities that service both mines. Mexican IMMSA unit segment includes five underground mines. Its operations include open-pit and underground mining, concentrating, copper smelting, copper refining, copper rod production, solvent extraction/electrowinning, zinc refining, sulfuric acid production, molybdenum concentrate production and silver and gold refining.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.