Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Southern Copper Corporation shares valued at $11,950 were sold by PALOMINO BONILLA LUIS MIGUEL on Sep 26 ’24. At $119.50 per share, PALOMINO BONILLA LUIS MIGUEL sold 100 shares. The insider’s holdings dropped to 2,214 shares worth approximately $0.22 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, PALOMINO BONILLA LUIS MIGUEL sold 100 shares, netting a total of over 10,000 in proceeds. Following the sale of shares at $100.00 each, the insider now holds 2,314 shares.
Before that, PALOMINO BONILLA LUIS MIGUEL had sold 100 shares from its account. In a trade valued at $10,513, the Director traded Southern Copper Corporation shares for $105.13 each. Upon closing the transaction, the insider’s holdings decreased to 100 shares, worth approximately $0.24 million.
As published in their initiating research note from UBS on July 12, 2024, Southern Copper Corporation [SCCO] has been a Neutral and the price target has been revised to $120. Analysts at HSBC Securities downgraded the stock from ‘”a Hold”‘ to ‘”a Reduce”‘ outlook in a report released in late April. As of March 22, 2024, Jefferies has increased its “Hold” rating to a “Buy” for SCCO. Earlier on November 27, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for SCCO stock which previously was a “an Equal-weight”.
Analyzing SCCO Stock Performance
During the last five days, there has been a drop of approximately -11.66%. Over the course of the year, Southern Copper Corporation shares have jumped approximately 19.10%. Shares of the company reached a 52-week high of $129.79 on 05/20/24 and a 52-week low of $77.14 on 01/17/24. A 50-day SMA is recorded $109.62, while a 200-day SMA reached $105.65. Nevertheless, trading volume fell to 1.06 million shares from 0.74 million shares the previous day.
Support And Resistance Levels for Southern Copper Corporation (SCCO)
According to the 24-hour chart, there is a support level at 99.37, which, if violated, would cause prices to drop to 98.48. In the upper region, resistance lies at 101.60. The next price resistance is at 102.93. RSI (Relative Strength Index) is 34.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.60, which suggests the price will decrease in the coming days. Percent R is at 97.27%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
