Goldman Sachs Initiates Coverage on SOUTHERN COPPER CORP COM to Neutral

Goldman Sachs Initiates Coverage on SOUTHERN COPPER CORP COM(NYSE:SCCO). The shares have been rated Neutral. The rating by Goldman Sachs was issued on Jun 9, 2016.

In a different note, On Mar 23, 2016, BMO Capital said it Downgrades its rating on SOUTHERN COPPER CORP COM. The shares have been rated ‘Market Perform’ by the firm.

SOUTHERN COPPER CORP COM (SCCO) made into the market gainers list on Wednesdays trading session with the shares advancing 2.46% or 0.63 points. Due to strong positive momentum, the stock ended at $26.21, which is also near the day’s high of $26.56. The stock began the session at $26.05 and the volume stood at 14,05,892 shares. The 52-week high of the shares is $31.35 and the 52 week low is $21.55. The company has a current market capitalization of $20,279 M and it has 77,37,07,070 shares in outstanding.

SOUTHERN COPPER CORP COM(SCCO) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.25B. Analysts had an estimated revenue of $1.26B. Earnings per share were $0.24. Analysts had estimated an EPS of $0.18.

Several Insider Transactions has been reported to the SEC. On Jan 15, 2016, Oscar Gonzalez Rocha (CEO) purchased 8,000 shares at $25.91 per share price.Also, On Nov 23, 2015, German Larrea Mota Velasco (Chairman of the Board) purchased 334,000 shares at $27.14 per share price.On Mar 20, 2015, Quintanilla Daniel Muniz (director) sold 1,200 shares at $31.57 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

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