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

By Shiri Gupta

Shares of Southern Copper (NYSE:SCCO) traded at a new 52-week high today of $42.00. So far today approximately 211,000 shares have been exchanged, as compared to an average 30-day volume of 1.2 million shares.

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.

In the past 52 weeks, Southern Copper share prices have been bracketed by a low of $24.90 and a high of $42.00 and are now at $41.65, 67% above that low price. The 200-day and 50-day moving averages have moved 0.03% higher and 1.31% higher over the past week, respectively.

Southern Copper (NYSE:SCCO) defies analysts with a current price ($41.65) 14.6% above its average consensus price target of $35.56. The stock should find initial support at its 50-day moving average (MA) of $27.52 and further support at its 200-day MA of $26.70.

SmarTrend recommended that subscribers consider buying shares of Southern Copper on June 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.32. Since that recommendation, shares of Southern Copper have risen 13.7%. 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