Southern Copper Corporation (SCCO) has been under a strong bear grip, hence the stock is down -0.72% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.46% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.88% in the last 1 week, and is up 1.75% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Southern Copper Corporation (NYSE:SCCO): The stock opened at $26.71 on Friday but the bulls could not build on the opening and the stock topped out at $26.79 for the day. The stock traded down to $26.16 during the day, due to lack of any buying support eventually closed down at $26.22 with a loss of -1.54% for the day. The stock had closed at $26.63 on the previous day. The total traded volume was 1,203,703 shares.
The stock has recorded a 20-day Moving Average of 0.11% and the 50-Day Moving Average is 0.35%. Southern Copper Corp. has dropped 8.1% during the last 3-month period . Year-to-Date the stock performance stands at 0.68%.
Southern Copper Corporation (SCCO) stock is expected to deviate a maximum of $2.39 from the average target price of $29.68 for the short term period. 9 Street Experts have initiated coverage on the stock with the most promising target being $33 and the most muted being $26.
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.