Noteworthy Price Action: What’s Southern Copper Corp Upside After Today’s Big Increase?

Noteworthy Price Action: What's Southern Copper Corp Upside After Today's Big Increase?

The stock of Southern Copper Corp (NYSE:SCCO) is a huge mover today! About 735,860 shares traded hands. Southern Copper Corp (NYSE:SCCO) has risen 1.33% since April 5, 2016 and is uptrending. It has underperformed by 0.62% the S&P500.
The move comes after 9 months positive chart setup for the $22.75B company. It was reported on Nov, 8 by Barchart.com. We have $48.28 PT which if reached, will make NYSE:SCCO worth $15.47 billion more.

Southern Copper Corp (NYSE:SCCO) Ratings Coverage

Out of 10 analysts covering Southern Copper (NYSE:SCCO), 2 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 20% are positive. Southern Copper has been the topic of 17 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by HSBC given on Friday, August 26. The company was downgraded on Wednesday, March 23 by BMO Capital Markets. The rating was downgraded by Barclays Capital to “Equal-Weight” on Tuesday, January 12. The firm has “Market Perform” rating given on Thursday, February 18 by Cowen & Co. The rating was maintained by FBR Capital with “Outperform” on Monday, August 22. The company was maintained on Tuesday, May 3 by Cowen & Co. On Thursday, June 9 the stock rating was initiated by Goldman Sachs with “Neutral”. FBR Capital initiated it with “Outperform” rating and $34 target price in Friday, September 18 report. Cowen & Co maintained it with “Market Perform” rating and $26 target price in Wednesday, August 5 report. The rating was upgraded by JP Morgan to “Overweight” on Tuesday, January 26.

According to Zacks Investment Research, “Southern Copper Corporation is a mining metallurgical company, producer of copper and valuable by-products.”

Insitutional Activity: The institutional sentiment decreased to 0.54 in Q2 2016. Its down 0.12, from 0.66 in 2016Q1. The ratio dived, as 26 funds sold all Southern Copper Corp shares owned while 102 reduced positions. 23 funds bought stakes while 46 increased positions. They now own 45.01 million shares or 16.46% less from 53.88 million shares in 2016Q1.
Blackrock Advisors Lc reported 257,956 shares or 0.01% of all its holdings. Citigroup Inc has 37,398 shares for 0% of their US portfolio. Stifel Finance Corporation holds 24,868 shares or 0% of its portfolio. Moreover, Franklin Res has 0.01% invested in Southern Copper Corp (NYSE:SCCO) for 587,100 shares. First City Inc holds 0.16% or 8,085 shares in its portfolio. The Ontario – Canada-based Manufacturers Life Insurance Com The has invested 0% in Southern Copper Corp (NYSE:SCCO). Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Cipher Capital L P accumulated 234,606 shares or 0.44% of the stock. Jpmorgan Chase & holds 0% of its portfolio in Southern Copper Corp (NYSE:SCCO) for 79,105 shares. Bank Of America De has 413,658 shares for 0% of their US portfolio. North Star Management Corp holds 1,212 shares or 0.01% of its portfolio. Kcg Holdings holds 0.02% of its portfolio in Southern Copper Corp (NYSE:SCCO) for 27,030 shares. Agf Investments holds 0.13% or 429,877 shares in its portfolio. The Connecticut-based Bridgewater Limited Partnership has invested 0.08% in Southern Copper Corp (NYSE:SCCO). Blackrock Inv Management Ltd Llc holds 0.02% of its portfolio in Southern Copper Corp (NYSE:SCCO) for 540,780 shares.

More news for Southern Copper Corp (NYSE:SCCO) were recently published by: Fool.com, which released: “Why Southern Copper Corp. Stock Rose 15.7% in March” on April 10, 2016. Seekingalpha.com‘s article titled: “Southern Copper Corp. Is Going Down” and published on August 22, 2016 is yet another important article.

SCCO Company Profile

Southern Copper Corporation, incorporated on September 7, 1995, is an integrated copper producer. The Firm produces copper, molybdenum, zinc and silver. The Firm operates in three divisions: Peruvian operations, Mexican open-pit activities and Mexican underground mining operations. The Peruvian activities segment includes the Toquepala and Cuajone mine complexes and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines. The Mexican open-pit activities segment includes the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a metals plant and a copper rod plant and support facilities that service both mines. The Mexican underground mining activities segment includes over five underground mines that produce zinc, copper, silver and gold, a coal mine and a zinc refinery. The Company’s activities include open-pit and underground mining, concentrating, copper smelting, copper refining, copper rod production, solvent extraction/electrowinning (SX-EW), zinc refining, sulfuric acid production, molybdenum concentrate production, and silver and gold refining.

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