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Shares of Southern Copper Rise to a New 52-Week High

By Amy Schwartz

Southern Copper (NYSE:SCCO) traded today at a new 52-week high of $58.09. Approximately 207,000 shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.

Southern Copper (NYSE:SCCO) defies analysts with a current price ($57.95) 23.7% above its average consensus price target of $44.21. The stock should discover initial support at its 50-day moving average (MA) of $27.52 and subsequent support at its 200-day MA of $26.70.

Southern Copper Corporation conducts mining operations in Peru and Mexico. The Company owns and operates open pit mines and metallurgical complexes that produce copper, molybdenum, zinc, and precious metals.

Southern Copper share prices have moved between a 52-week high of $58.09 and a 52-week low of $24.90 and are now trading 133% above that low price at $57.95 per share. The 200-day and 50-day moving averages have moved 0.03% higher and 1.31% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Southern Copper on February 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.40. Since that recommendation, shares of Southern Copper have risen 14.6%. We continue to monitor SCCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Southern Copper

Ticker(s): SCCO