Southern Copper Corporation’s recently made public that its Director PALOMINO BONILLA LUIS MIGUEL unloaded Company’s shares for reported $11950.0 on Sep 26 ’24. In the deal valued at $119.50 per share,100 shares were sold. As a result of this transaction, PALOMINO BONILLA LUIS MIGUEL now holds 2,214 shares worth roughly $0.25 million.
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Then, PALOMINO BONILLA LUIS MIGUEL sold 100 shares, generating $10,000 in total proceeds. Upon selling the shares at $100.00, the Director now owns 2,314 shares.
Before that, PALOMINO BONILLA LUIS MIGUEL sold 100 shares. Southern Copper Corporation shares valued at $10,513 were divested by the Director at a price of $105.13 per share. As a result of the transaction, PALOMINO BONILLA LUIS MIGUEL now holds 2,414 shares, worth roughly $0.27 million.
UBS initiated its Southern Copper Corporation [SCCO] rating to a Neutral in a research note published on July 12, 2024; the price target was $120. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who decreased its forecast for the stock in late April from “a Hold” to “a Reduce”. Jefferies also remained covering SCCO and has increased its forecast on March 22, 2024 with a “Buy” recommendation from previously “Hold” rating. Morgan Stanley revised its rating on November 27, 2023. It rated SCCO as “an Underweight” which previously was an “an Equal-weight”.
Price Performance Review of SCCO
On Tuesday, Southern Copper Corporation [NYSE:SCCO] saw its stock fall -3.79% to $113.11. Over the last five days, the stock has lost -3.39%. Southern Copper Corporation shares have risen nearly 33.53% since the year began. Nevertheless, the stocks have risen 55.45% over the past one year. While a 52-week high of $129.07 was reached on 05/20/24, a 52-week low of $67.84 was recorded on 01/17/24. SMA at 50 days reached $104.17, while 200 days put it at $101.88.
Levels Of Support And Resistance For SCCO Stock
The 24-hour chart illustrates a support level at 111.03, which if violated will result in even more drops to 108.96. On the upside, there is a resistance level at 114.42. A further resistance level may holdings at 115.74. The Relative Strength Index (RSI) on the 14-day chart is 55.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.43, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 43.98%. Stochastics %K at 74.46% 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 2024-09-13, growing by 0.55 million shares to a total of 6.78 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 6.23 million shares. There was a rise of 8.11%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on September 18, 2023 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating along with a $91 price target.
