Deutsche Bank Initiates Coverage On Southern Copper with Hold Rating, Announces Price Target of $47
Deutsche Bank analyst Abhi Agarwal initiates coverage on Southern Copper (NYSE:SCCO) with a Hold rating and announces Price Target of $47.
2 High-Yielding Materials Stocks Set To Benefit From Demand For EVs And Semiconductors
The efforts to transition to electric-vehicles are gaining momentum, with states such as California setting new legislation that prohibits the sale of new combustion vehicles by 2035.
Additionally, the Science and Chips Act of 2022 will allocate billions of dollars in tax credits for semiconductors companies to build new fabrication facilities.
$100 Invested In Southern Copper 20 Years Ago Would Be Worth This Much Today
Southern Copper (NYSE:SCCO) has outperformed the market over the past 20 years by 8.61% on an annualized basis producing an average annual return of 16.58%. Currently, Southern Copper has a market capitalization of $35.92 billion.
How Is The Market Feeling About Southern Copper?
Southern Copper's (NYSE:SCCO) short percent of float has fallen 5.63% since its last report. The company recently reported that it has 4.68 million shares sold short, which is 5.7% of all regular shares that are available for trading.
Barclays Maintains Equal-Weight on Southern Copper, Lowers Price Target to $51
Barclays analyst Matthew Murphy maintains Southern Copper (NYSE:SCCO) with a Equal-Weight and lowers the price target from $61 to $51.
Here’s How Much You Would Have Made Owning Southern Copper Stock In The Last 20 Years
Southern Copper (NYSE:SCCO) has outperformed the market over the past 20 years by 8.56% on an annualized basis producing an average annual return of 16.45%. Currently, Southern Copper has a market capitalization of $37.16 billion.
Citigroup Downgrades Southern Copper to Sell, Lowers Price Target to $40
Citigroup analyst Alexander Hacking downgrades Southern Copper (NYSE:SCCO) from Neutral to Sell and lowers the price target from $70 to $40.
Analyzing Southern Copper’s Short Interest
Southern Copper's (NYSE:SCCO) short percent of float has risen 11.44% since its last report. The company recently reported that it has 4.96 million shares sold short, which is 6.04% of all regular shares that are available for trading.
Wolfe Research Downgrades Southern Copper to Underperform
Wolfe Research analyst Timna Tanners downgrades Southern Copper (NYSE:SCCO) from Peer Perform to Underperform.