Movement Alert｜Southern Copper Corp Falls 3.02% in Regular Trading, CICC Rating Downgrade Continues to Weigh as Copper Sector Retreats

Market Focus07-31

On July 31, Southern Copper Corp fell 3.02% in regular trading, trading at $179.35/share, with turnover of $13.28 million. The stock had rebounded over 4% the prior session before resuming its downward trajectory.

On the news front, CICC recently downgraded Southern Copper Corp from Buy to Neutral, maintaining a target price of $180.70, corresponding to 12.9x EV/EBITDA and 21.9x P/E, citing limited upside potential for copper prices. With the current stock price approaching the target price range, valuation recovery momentum appears insufficient.

The broader copper sector experienced systematic selling pressure. Within the Copper sector, Freeport-McMoRan fell 3.52%, TREKOR METALS fell 6.71%, and Ero Copper fell 3.18%, reflecting industry-wide weakness. The rating downgrade combined with sector-wide retreat formed dual headwinds on the stock, extending the bearish pattern that emerged earlier in the week when the stock declined nearly 7% over two consecutive sessions before a brief rebound.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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