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Southern Copper Corporation
SCCO Details
Southern Copper Corporation (NYSE: SCCO) is a copper and other mineral integrated producers with mining, smelting, and refining operations in Peru and Mexico. Mexican open-pit operations and Mexican underground mining operations are the company's three segments. Most of Southern Copper's revenue comes from copper sales, with the remainder from non-copper items.
Latest Updates:
Q1 FY22 Results:
(Source: Company Filings)
FY22 Outlook:
Key Risks:
Valuation Methodology: Price/Earnings Per Share Multiple Based Relative Valuation
(Source: Analysis by Kalkine Group)
Stock Recommendation:
SCCO's is now trading around the bottom of its 52-week range of USD 25.33 to USD 15.69. The SCCO price is trading below the horizontal trend line on the weekly chart and is up against the same resistance. Furthermore, the 14-period RSI momentum oscillator is trading at ~37.58, reverting from higher levels. However, the price is trading above the 21-period SMA of the trend-following indicator, which might operate as immediate support.
Based on revenue growth, outstanding margins, regulated operational cash expenses, excellent equity returns, increasing profitability, related risks, and current valuation, we recommend a "Buy" rating on the stock at the current market price of USD 57.45 as of June 15, 2022, at 09:35 AM PDT.
1-Year Technical Price Chart (as of June 15, 2022, at 09:35 AM PDT) Source: REFINITIV, Analysis by Kalkine Group
Technical Summary Analysis
*CMP as on June 15, 2022, at 09:35 AM PDT.
Technical Indicators Defined: -
Support: A level where-in the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.
Resistance: A level where-in the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
Note 1: The reference data in this report has been partly sourced from REFINITIV.
Note 2: Investment decisions should be made depending on the investors' appetite for upside potential, risks, holding duration, and any previous holdings. Investors can consider exiting the stock if the Target Price mentioned as per the valuation has been achieved and subject to the factors discussed above.
Note 3: The report publishing date is as per the Pacific Time Zone.