Southern Copper Corporation (SCCO) : Analyst Rating Update

Southern Copper Corporation (SCCO) : 1 brokerage houses believe that Southern Copper Corporation (SCCO) is a Strong Buy at current levels. 9 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Southern Copper Corporation (SCCO). Zacks Investment Research suggests a Sell with a rank of 4.The median of all the 10 Wall Street Analysts endorse the stock as a Hold with a rating of 2.8.

Southern Copper Corporation (SCCO) : 9 Wall Street analysts covering Southern Copper Corporation (SCCO) believe that the average level the stock could reach for the short term is $29.68. The maximum price target given is $33 and the minimum target for short term is around $26, hence the standard deviation is calculated at $2.39.

Southern Copper Corporation (NYSE:SCCO): The stock opened at $25.34 on Wednesday but the bulls could not build on the opening and the stock topped out at $25.47 for the day. The stock traded down to $24.91 during the day, due to lack of any buying support eventually closed down at $25.39 with a loss of -0.16% for the day. The stock had closed at $25.43 on the previous day. The total traded volume was 1,508,798 shares.

Also, Equity Analysts at the Credit Suisse downgrades the rating on Southern Copper Corporation (NYSE:SCCO). The brokerage firm has issued a Underperform rating on the shares. The shares were previously rated Neutral. The Analysts at the ratings agency lowers the price target from $28 per share to $20 per share. The rating by the firm was issued on July 1, 2016. The company shares have dropped -10.08% from its 1 Year high price. On Apr 28, 2016, the shares registered one year high at $31.31 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $26.51 and the 200 Day Moving Average price is recorded at $26.40.

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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