Southern Copper Corporation’s recent filing unveils that its Director Castillo Sanchez Mejorada Enri unloaded Company’s shares for reported $0.2 million on Aug 14. In the deal valued at $81.56 per share,2,400 shares were sold. As a result of this transaction, Castillo Sanchez Mejorada Enri now holds 3,200 shares worth roughly $ 0.25 million.
Then, PALOMINO BONILLA LUIS MIGUEL sold 500 shares, generating $43,555 in total proceeds. Upon selling the shares at $87.11, the Director now owns 5,414 shares.
Before that, PALOMINO BONILLA LUIS MIGUEL sold 500 shares. Southern Copper Corporation shares valued at $35,105 were divested by the Director at a price of $70.21 per share. As a result of the transaction, PALOMINO BONILLA LUIS MIGUEL now holds 5,514 shares, worth roughly $0.43 million.
Goldman downgraded its Southern Copper Corporation [SCCO] rating to a Sell from a a Neutral in a research note published on Friday, May 10, 2023; the price target was increased to $66 from $65. PT values the company’s stock at a premium of -17.86 to its Friday closing price.
Price Performance Review of SCCO
On Friday, Southern Copper Corporation [NYSE:SCCO] saw its stock fall -1.43% to $77.79. On the same session, the stock had its day’s lowest price of $77.00, but rose to a high of $79.4376. Over the last five days, the stock has gained 0.70%. Southern Copper Corporation shares have risen nearly 28.81% since the year began. Nevertheless, the stocks have risen 58.01% over the past one year. While a 52-week high of $87.59 was reached on 07/31/23, a 52-week low of $42.42 was recorded on 01/03/23. SMA at 50 days reached $77.81, while 200 days put it at $72.06. A total of 0.65 million shares were traded, compared to the trading of 1.19 million shares in the previous session.
Levels Of Support And Resistance For SCCO Stock
The 24-hour chart illustrates a support level at 76.71, which if violated will result in even more drops to 75.64. On the upside, there is a resistance level at 79.15. A further resistance level may holdings at 80.51. The Relative Strength Index (RSI) on the 14-day chart is 43.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.66%. Stochastics %K at 29.89% indicates the stock is a holding.
How much short interest is there in Southern Copper Corporation?
A steep rise in short interest was recorded in Southern Copper Corporation stocks on Aug 14, 2023, dropping by 60000.0 shares to a total of 5.39 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.45 million shares. There was a decline of -1.11%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.34% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.8.
Southern Copper Corporation [SCCO] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 5,046,424 shares, or roughly 0.65% of the outstanding SCCO shares. In other words, the investor’s shares have fallen by -528,942 from its previous 13-F filing of 5575366.0. Additionally, Fisher Asset Management LLC increased 0.46% of its stake after which the total value it holdings stand at $290,889,271, while Mawer Investment Management Ltd. reduced -2.25% of its stake to hold $235.6 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 20,053 shares of Southern Copper Corporation, while abrdn Investments Ltd. bought 132,741 shares. At present, FIL Investment Advisors is holding 1,759,256 shares valued at $153.83 million. T. Rowe Price Associates, Inc. owned 1,720,750 shares of the company at the time of its most recent 13F filing, worth $150.46 million.
According to FactSet, Southern Copper Corporation’s share price will average $63.84 in the next year, based on opinions of analysts polled by the firm. This is down nearly -18.91 percent from its previous closing price of $78.92. Analysts expect Southern Copper Corporation stock to reach the higher price of $95.00, while the lowest price estimate is $45.00. However, 18 analysts have rated SCCO stock as an Underweight in their predictions for 2023.