Movement Alert｜Southern Copper Corp Falls 3.06% in Regular Trading, CICC Downgrades Rating to Neutral Citing Limited Copper Price Upside

Market Focus07-29

On July 29, Southern Copper Corp fell 3.06% in regular trading, trading at $173.245/share, with turnover of $31.10 million. The stock marked its second consecutive session of decline, with cumulative losses widening.

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 ratio. The firm noted that copper price upside remains limited, pressuring the stock valuation outlook.

The broader copper sector exhibited systemic weakness. Within the Copper sector, Freeport-McMoRan fell 4.64%, TREKOR METALS fell 4.22%, and Ero Copper fell 3.24%. The sector-wide selloff compounded pressure from the rating downgrade, suppressing market sentiment toward Southern Copper Corp.

(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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