Movement Alert｜Southern Copper Corp Falls 3.96% in Regular Trading, CICC Downgrades Rating to Neutral Citing Limited Copper Price Upside

Market Focus07-28

On July 28, Southern Copper Corp fell 3.96% in regular trading, trading at $172.735/share, with turnover of $16.9228 million. The decline came amid a broad sell-off across the copper mining sector following a notable analyst downgrade.

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. The firm cited limited upside potential for copper prices as the basis for the rating change. The downgrade triggered sector-wide pressure, with peers declining in tandem: Freeport-McMoRan fell 3.7%, Ero Copper dropped 4.01%, and TREKOR METALS declined 4.78%.

Southern Copper Corporation operates copper mining, smelting, and refining operations across Peru, Mexico, Argentina, Ecuador, and Chile, and is a subsidiary of Americas Mining Corporation. The company last reported earnings on July 22.

(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.)

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