Southern Copper Corp (SCCO) is Downgraded by Citigroup to Sell

Southern Copper Corp (SCCO) was Downgraded by Citigroup to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on May 4, 2016.

Many Wall Street Analysts have commented on Southern Copper Corp. Company shares were Reiterated by FBR Capital on May 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $32 .Company shares were Reiterated by Cowen on May 3, 2016 to “Market Perform”, Firm has raised the Price Target to $ 28 from a previous price target of $24 .Southern Copper Corp was Upgraded by BofA/Merrill to ” Neutral” on Mar 24, 2016.

Southern Copper Corp closed down -0.14 points or -0.47% at $29.53 with 11,48,093 shares getting traded on Monday. Post opening the session at $29.81, the shares hit an intraday low of $29.3 and an intraday high of $29.875 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jan 15, 2016, Oscar Gonzalez Rocha (CEO) purchased 8,000 shares at $25.91 per share price. According to the SEC, 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.

Southern Copper Corp

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Southern Copper Corp - Is it time to Sell?

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