The stock of Southern Copper Corp (NYSE:SCCO) hit a new 52-week high and has $44.17 target or 36.00% above today’s $32.48 share price. The 9 months bullish chart indicates low risk for the $28.56B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $44.17 price target is reached, the company will be worth $10.28B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.35 million shares traded hands or 17.39% up from the average. Southern Copper Corp (NYSE:SCCO) has risen 27.68% since April 11, 2016 and is uptrending. It has outperformed by 21.53% the S&P500.
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. $38 is the highest target while $20 is the lowest. The $29.28 average target is -9.85% below today’s ($32.48) stock price. Southern Copper has been the topic of 17 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Goldman Sachs initiated Southern Copper Corp (NYSE:SCCO) rating on Thursday, June 9. Goldman Sachs has “Neutral” rating and $27 price target. On Friday, October 16 the stock rating was downgraded by HSBC to “Hold”. The firm earned “Neutral” rating on Monday, August 31 by JP Morgan. The rating was downgraded by Credit Suisse to “Underperform” on Friday, July 1. The firm has “Underperform” rating by Bank of America given on Tuesday, October 6. The firm has “Outperform” rating by FBR Capital given on Monday, August 22. The stock has “Equal-Weight” rating given by Barclays Capital on Tuesday, January 12. The rating was upgraded by JP Morgan on Tuesday, January 26 to “Overweight”. The stock has “Hold” rating given by HSBC on Friday, August 26. The firm has “Market Perform” rating given on Wednesday, March 23 by BMO Capital Markets.
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 dropped, 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.
Paloma Prtn Mgmt Com, a Connecticut-based fund reported 29,889 shares. Blackrock reported 182,435 shares or 0.01% of all its holdings. Wealthtrust reported 354 shares or 0.01% of all its holdings. Aviva Public Limited Company, a United Kingdom-based fund reported 108,170 shares. Moreover, Westport Inc has 0.02% invested in Southern Copper Corp (NYSE:SCCO) for 1,800 shares. Principal Financial Gp last reported 0% of its portfolio in the stock. Moreover, Ladenburg Thalmann has 0.01% invested in Southern Copper Corp (NYSE:SCCO) for 17,966 shares. American Intll Grp reported 2,475 shares or 0% of all its holdings. Sunbelt last reported 0% of its portfolio in the stock. Cubist Systematic Strategies Ltd Llc reported 20,109 shares or 0.03% of all its holdings. Ubs Asset Americas Inc holds 0.01% or 178,724 shares in its portfolio. Denali Advsr Lc has 308,200 shares for 1.43% of their US portfolio. Stifel Finance holds 24,868 shares or 0% of its portfolio. Endurance Wealth Mgmt has 0% invested in the company for 1 shares. National Bank & Trust Of Montreal Can has 65,221 shares for 0% of their US portfolio.
Another recent and important Southern Copper Corp (NYSE:SCCO) news was published by Nasdaq.com which published an article titled: “Southern Copper Corporation (SCCO) Ex-Dividend Date Scheduled for November 07 …” on November 04, 2016.
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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