Shares of Southern Copper Corp (SCCO) saw unusually high trading volume on Wednesday. Approximately 2,669,454 shares changed hands during mid-day trading, an increase of 19.12% from the previous session. The stock last traded at $41.30.
Separately, analysts at Zacks Investment Research downgraded shares of Southern Copper Corp from an outperform rating to a neutral rating in a research note to investors on Wednesday, February 23rd. Also, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Southern Copper Corp from $40.00 to $43.00 in a research note to investors on Wednesday, February 9th. They now have an underweight rating on the stock.
Southern Copper Corporation (SCC) is an integrated copper producer. The Company produces copper, molybdenum, zinc and silver. All of its mining, smelting and refining facilities are located in Peru and in Mexico, and it conducts exploration activities in those countries and Chile. Its Peruvian copper operations involve mining, milling and flotation of copper ore to produce copper concentrates and molybdenum concentrates; the smelting of copper concentrates to produce anode copper, and the refining of anode copper to produce copper cathodes. It operates the Toquepala and Cuajone mines in the Andes mountains. The Company also operates a smelter and refinery west of the Toquepala and Cuajone mines in the coastal city of Ilo, Peru. Its Mexican operations are conducted through the Companyâs subsidiary, Minera Mexico S.A. de C.V. (Minera Mexico). Minera Mexico engages principally in the mining and processing of copper, molybdenum, zinc, silver, gold and lead.
Shares of Southern Copper Corp traded up 2.76% during mid-day trading on Wednesday, hitting $41.29. Southern Copper Corp has a 52 week low of $25.56 and a 52 week high of $50.35. The stocks 50-day moving average is $42.63 and its 200-day moving average is $42.39. The company has a market cap of $35.097 billion and a price-to-earnings ratio of 21.98.
