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SCCO $93.01

SCCO target price
93.01
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Southern Copper Corporation
Type
Subsidiary
Traded as BVL: SCCO
NYSE: SCCO
Industry Mining
Founded 1952; 65 years ago (1952)
Headquarters Phoenix, Arizona, United States
Key people
Oscar González Rocha (CEO)
Products copper
molybdenum
zinc
silver
Revenue Increase US$ 6.92 Billion (2011)
Number of employees
12,000
Parent Grupo México
Website www.southerncoppercorp.com

Southern Copper Corporation is a mining company that was founded in 1952. The current incarnation of Southern Copper can be traced to the 2005 acquisition of Mexican copper producer Minera México by Southern Peru Copper Corporation.

75.1 percent of Southern Copper is owned by Mexican mining conglomerate Grupo México. Based on 2007 reserves data, Southern Copper is the world's largest publicly traded copper mining company and the world's seventh largest copper mining company based on 2007 sales. In addition, the firm is the eighth largest copper smelting company. The firm ranks among the world's largest producers of molybdenum, silver, and zinc.

The company is a major producer and refiner of copper, molybdenum, zinc, silver, lead, and gold, and operates mines and smelters in Mexico and in Peru, in the Andes mountains southeast of Lima.

The firm's operations are primarily within southern Peru and northern Mexico.

Southern Peruvian operations include the mines located at the Cuajone and Toquepala mines. The two mines produced a total of 359,655 tons of copper in 2007, with Cuajone producing 182,117 tons and Toquepala producing 177,538 tons respectively.

A recent strike at the largest mine, Cuajone, was suspended pending mediation between the two parties.

Tia Maria is a copper project mine which has been granted the environmental approval by the Peruvian Ministry of Energy and Mining (MINEM) to move forward with the project development. Geoservice Ingeniería was the engineering and consulting firm in charge of executing satisfactory the Environmental Impact Assessment (EIA) studies, the EIA approval was received on August 1, 2014 with directorial resolution Nº392-2014-MEM/DGA-AM given by MINEM.

The social protest against the project started in March 2015, causing tens of injuries and up to the beginning of May 2015, two deaths have also led to massive strikes and road blocks in the region. Local farmers fear the open-pit project will contaminate water supplies and cover their crops in dust.

The Cananea Mine, located in northern Mexico, produced 98,503 tons of copper in 2007. It is among the world's largest copper mines in terms of reserves, and has the longest remaining mine life of any major open-pit copper mine in the world, based on current production levels.

La Caridad Mine, located in northern Mexico, produced 124,972 tons of copper in 2007.


Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-10-24 Future report Set alerts
Q2 2022 2022-07-27 0.00 0.00
Q1 2022 2022-05-02 0.00 0.00
Q4 2021 2022-02-01 0.00 0.00
Q3 2021 2021-10-26 0.00 0.00
Q2 2021 2021-07-26 1.21 1.21
Q1 2021 2021-04-27 0.99 0.99
Q4 2020 2021-01-25 0.00 0.00
Q3 2020 2020-10-21 0.00 0.00
Q2 2020 2020-07-28 0.34 0.34

Ratings

2016-07-01 Downgrade Credit Suisse Neutral to Underperform $28.00 to $20.00
2016-07-01 Downgrade Credit Suisse Group AG Neutral to Underperform $28.00 to $20.00
2016-06-09 Initiated Coverage Goldman Sachs Neutral $27.00
2016-06-09 Initiated Coverage Goldman Sachs Group Inc. Neutral $27.00
2016-05-04 Downgrade Citigroup Inc. Neutral to Sell
2016-05-04 Boost Price Target FBR & Co. Outperform $32.00 to $33.00
2016-05-04 Boost Price Target FBR & Co Outperform $32.00 to $33.00
2016-05-03 Reiterated Rating Cowen and Company Market Perform $24.00 to $28.00
2016-04-28 Reiterated Rating FBR & Co. Buy
2016-03-24 Upgrade Bank of America Underperform to Neutral
2016-03-24 Upgrade Bank of America Corp. Underperform to Neutral
2016-03-23 Downgrade BMO Capital Markets Outperform to Market Perform $30.00
2016-03-23 Boost Price Target Deutsche Bank $25.00 to $25.50
2016-03-23 Boost Price Target Deutsche Bank AG $25.00 to $25.50
2016-03-19 Reiterated Rating FBR & Co. Buy
2016-03-18 Boost Price Target FBR & Co. Outperform $31.00 to $32.00
2016-02-29 Initiated Coverage Berenberg Bank Sell $20.00
2016-02-22 Lower Price Target Barclays Equal Weight $25.00 to $24.00
2016-02-22 Lower Price Target Barclays PLC Equal Weight $25.00 to $24.00
2016-02-18 Lower Price Target Cowen and Company Market Perform $26.00 to $24.00
2016-02-17 Downgrade JPMorgan Chase & Co. Overweight to Neutral $29.00 to $28.00
2016-02-14 Reiterated Rating FBR & Co. Outperform
2016-01-26 Upgrade JPMorgan Chase & Co. Neutral to Overweight $29.00
2016-01-12 Downgrade Barclays Overweight to Equal Weight $32.00 to $25.00
2015-12-08 Downgrade Santander Buy to Hold $30.00
2015-11-09 Reiterated Rating FBR & Co. Outperform $34.00 to $33.00
2015-10-16 Downgrade HSBC Buy to Hold
2015-10-06 Downgrade Bank of America Neutral to Underperform $30.00 to $27.00
2015-09-29 Downgrade Scotiabank Sector Perform $39.00 to $35.00
2015-09-29 Lower Price Target Howard Weil Outperform to Sector Perform $39.00 to $35.00
2015-09-18 Initiated Coverage FBR & Co. Outperform $34.00
2015-08-31 Downgrade JPMorgan Chase & Co. Overweight to Neutral $37.00 to $31.50
2015-08-05 Reiterated Rating Cowen and Company Market Perform $30.00 to $26.00
2015-07-09 Reiterated Rating Barclays Buy $36.00 to $34.00
2015-06-24 Initiated Coverage HSBC Buy
2015-06-12 Reiterated Rating Santander Buy $39.00
2015-05-08 Reiterated Rating Brean Capital Hold
2015-05-04 Boost Price Target Barclays Overweight $34.00 to $36.00
2015-04-29 Downgrade Citigroup Inc. Buy to Neutral
2015-03-26 Initiated Coverage Brean Capital Hold
2015-02-05 Downgrade BB&T Corp. Buy to Hold
2015-01-23 Lower Price Target JPMorgan Chase & Co. Overweight $39.00 to $37.00
2015-01-15 Initiated Coverage Barclays Overweight
2014-11-07 Reiterated Rating JPMorgan Chase & Co. Overweight $42.00 to $39.00
2014-10-09 Upgrade Bank of America Underperform to Neutral
2014-09-12 Boost Price Target RBC Capital $44.00 to $46.00
2014-09-12 Boost Price Target Royal Bank Of Canada $44.00 to $46.00
2014-08-13 Downgrade Morgan Stanley Underweight $46.00 to $40.00
2014-08-06 Downgrade FBR & Co. Outperform to Market Perform $37.00 to $35.00
2014-08-05 Boost Price Target Credit Suisse $38.00 to $41.00
2014-07-31 Boost Price Target BMO Capital Markets Market Perform $43.00 to $46.00
2014-07-15 Lower Price Target Jefferies Group $47.00 to $46.00
2014-07-07 Upgrade BMO Capital Markets Market Perform to Outperform $30.00 to $40.00
2014-04-24 Downgrade Bank of America Buy to Neutral $32.50 to $32.00
2014-02-13 Reiterated Rating Deutsche Bank Hold
2014-02-10 Boost Price Target Imperial Capital Outperform $35.00 to $37.00
2014-02-07 Boost Price Target BB&T Corp. $34.00 to $36.00
2014-02-07 Upgrade Morgan Stanley Equal Weight $32.90
2014-01-14 Upgrade FBR & Co. Market Perform to Outperform $35.00
2013-12-30 Upgrade BB&T Capital Mkts Hold to Buy $34
2013-12-30 Upgrade BB&T Corp. Hold to Buy $34.00
2013-12-18 Upgrade Citigroup Inc. Neutral to Buy $28.00 to $31.00
2013-11-06 Upgrade Cowen and Company Underperform to Market Perform $24.00 to $30.00
2013-10-02 Reiterated Rating Deutsche Bank Hold $41.00 to $36.00
2013-05-01 Upgrade BB&T Capital Mkts Underweight to Hold
2013-01-28 Downgrade BB&T Capital Mkts Hold to Underweight
2012-01-26 Downgrade Dahlman Rose Hold to Sell
2012-01-10 Initiated BB&T Capital Mkts Hold
2011-06-02 Upgrade Barclays Capital Underweight to Equal Weight
2010-12-01 Initiated BMO Capital Markets Market Perform $45
2010-04-22 Upgrade JP Morgan Underweight to Neutral
2010-04-20 Downgrade HSBC Securities Overweight to Neutral
2010-04-06 Initiated UBS Buy
2016-07-01 Downgrade Credit Suisse Neutral to Underperform $28.00 to $20.00
2016-07-01 Downgrade Credit Suisse Group AG Neutral to Underperform $28.00 to $20.00
2016-06-09 Initiated Coverage Goldman Sachs Neutral $27.00
2016-06-09 Initiated Coverage Goldman Sachs Group Inc. Neutral $27.00
2016-05-04 Downgrade Citigroup Inc. Neutral to Sell

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Grupo Mexico, S.A.B. de C.V. 81.70%  (680000000) SCCO /
VELASCO GERMAN LARREA MOTA Chairman of the Board 0.40%  (3368167) SCCO /
ROCHA OSCAR GONZALEZ President and CEO 0.02%  (134539) SCCO /