Tuesday's ETF Movers: SKYY, COPX
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 28 2025
0mins
Should l Buy SCCO?
Source: NASDAQ.COM
Global X Copper Miners ETF Performance: The Global X Copper Miners ETF is down approximately 2.8% in Tuesday afternoon trading, with Mac Copper and Southern Copper shares each declining by about 3.5%.
Market Commentary: The views expressed in the article reflect the author's opinions and do not necessarily represent those of Nasdaq, Inc.
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Analyst Views on SCCO
Wall Street analysts forecast SCCO stock price to fall
10 Analyst Rating
0 Buy
5 Hold
5 Sell
Moderate Sell
Current: 218.850
Low
90.00
Averages
127.95
High
152.00
Current: 218.850
Low
90.00
Averages
127.95
High
152.00
About SCCO
Southern Copper Corporation is an integrated copper producer. The Company is engaged in the production of copper, molybdenum, silver, and zinc. The Company’s mining, smelting and refining facilities are located in Peru and Mexico and conducts exploration activities in those countries and in Argentina, Chile and Ecuador. Its segments include the Peruvian operations, Mexican open-pit operations and Mexican underground mining operations. Its Peruvian operations include the Toquepala and Cuajone mine complexes and smelting and refining plants, including a precious metals plant, industrial railroad and port facilities. Its Mexican open-pit operations include the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a precious metals plant and a copper rod plant and support facilities that service both mines. Its Mexican underground mining operations include five underground mines that produce zinc, copper, lead, silver and gold, and a zinc refinery.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Freeport McMoRan Shares Decline Amid Iran Conflict's Impact on Commodities
- Stock Performance: Freeport McMoRan's stock experienced a significant decline on Tuesday, reflecting a broader downturn in the metals and mining sector.
- Market Context: The drop in stock prices was linked to a risk-off trading sentiment due to escalating U.S. military actions in Iran, which negatively impacted commodity prices.
See More
BofA Downgrades Southern Copper Rating Amid Price Target Increase
- Rating Downgrade: BofA downgraded Southern Copper (SCCO) from Neutral to Underperform while raising its price target from $162 to $175, reflecting concerns over the stock's “stretched” valuation and weaker near-term operating outlook.
- Production Forecast Decline: BofA expects Southern Copper's production to decline by 3% through 2027, indicating challenges that may impact future profitability and necessitating cautious risk assessment by investors.
- Morgan Stanley's Perspective: Morgan Stanley raised its price target on Southern Copper from $137 to $156 while maintaining an Underweight rating, indicating a reassessment of current commodity prices and foreign exchange assumptions, highlighting market divergence on the stock.
- Market Competition Analysis: While Southern Copper is recognized as a quality long-term investment, analysts suggest that certain AI stocks may offer greater upside potential and lower downside risk, prompting investors to consider more attractive opportunities.
See More
Corning Shares Retreat but Outlook Remains Positive
- Stock Pullback: Corning shares fell approximately 6.5% on Thursday after a four-day rally exceeding 23%, yet the stock remains up over 70% year-to-date, making it one of the top performers in the S&P 500, indicating strong market confidence.
- Analyst Target Increase: Citi raised Corning's price target from $120 to $170, reflecting optimistic growth expectations, while the investment club also increased its target from $140 to $160, showcasing confidence in the company's role in AI infrastructure.
- Fiber Optics Growth: Corning's optical communications segment achieved a 35% revenue growth and a 71% net income increase in 2025, primarily driven by the rising demand for fiber optic cables in data centers, highlighting the company's critical position in the cloud computing market.
- Partnerships with Major Clients: Corning secured a fiber optic cable supply agreement with Meta worth up to $6 billion, with expectations of forming more partnerships with large tech firms, further solidifying its leadership in the fiber optics market.
See More
BofA Downgrades Southern Copper and Vale Ratings
- Southern Copper Downgrade: Bank of America downgraded Southern Copper (SCCO) from Neutral to Underperform, citing stretched valuations with a 2026 EV/EBITDA of 16.3x and a thin free cash flow yield of 3%, alongside a projected 3% production decline from 938M tons in 2025 to 910M tons in 2027, indicating a lack of catalysts to reverse these trends.
- Unfavorable Market Outlook: While BofA maintains a constructive medium-term outlook for copper, analysts believe that Southern Copper's current share price already reflects an overly optimistic scenario that is unlikely to materialize in the near term, raising concerns about its future performance.
- Vale Rating Adjustment: Bank of America downgraded Vale (VALE) from Buy to Neutral, noting that despite strong operational performance in 2025, iron ore prices have fallen below $100/ton, and with expected 2%-3% declines in Chinese steel demand, the upside potential for the stock appears limited.
- Operational Performance vs. Market Risks: Although Vale's operational outlook remains solid, as indicated by recent results, BofA believes that the current share price has already captured most of the near-term potential, reflecting a cautious market sentiment regarding future growth.
See More
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several stocks, reflecting varying market outlooks that could influence investor decisions and market trends.
- Upgrades and Downgrades: While specific stock names are not mentioned, such rating changes typically lead to stock price volatility, prompting investors to pay close attention to these shifts for portfolio optimization.
- Market Reaction Expectations: The adjustments in analysts' ratings may trigger short-term market reactions, especially when investor sentiment towards specific stocks is sensitive, thereby impacting overall market sentiment.
- Enhanced Information Transparency: By providing a comprehensive view of analyst rating changes, investors can better understand market dynamics and make more informed investment decisions, thereby improving market transparency and efficiency.
See More
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several companies, including upgrades, downgrades, and initiations, reflecting varying market perspectives on these firms.
- Market Dynamics: While specific company names are not mentioned, changes in analyst ratings typically influence investor decisions and can lead to price fluctuations in the affected stocks.
- Investor Focus: Investors considering buying TTD stock should pay attention to the latest insights from analysts to make more informed investment choices.
- Source of Information: This information is provided by Benzinga, highlighting the significance of analyst ratings in the market, and investors are encouraged to regularly check for updates.
See More
Freeport McMoRan Shares Decline Amid Iran Conflict's Impact on Commodities
- Stock Performance: Freeport McMoRan's stock experienced a significant decline on Tuesday, reflecting a broader downturn in the metals and mining sector.
- Market Context: The drop in stock prices was linked to a risk-off trading sentiment due to escalating U.S. military actions in Iran, which negatively impacted commodity prices.
See More
BofA Downgrades Southern Copper Rating Amid Price Target Increase
- Rating Downgrade: BofA downgraded Southern Copper (SCCO) from Neutral to Underperform while raising its price target from $162 to $175, reflecting concerns over the stock's “stretched” valuation and weaker near-term operating outlook.
- Production Forecast Decline: BofA expects Southern Copper's production to decline by 3% through 2027, indicating challenges that may impact future profitability and necessitating cautious risk assessment by investors.
- Morgan Stanley's Perspective: Morgan Stanley raised its price target on Southern Copper from $137 to $156 while maintaining an Underweight rating, indicating a reassessment of current commodity prices and foreign exchange assumptions, highlighting market divergence on the stock.
- Market Competition Analysis: While Southern Copper is recognized as a quality long-term investment, analysts suggest that certain AI stocks may offer greater upside potential and lower downside risk, prompting investors to consider more attractive opportunities.
See More
Corning Shares Retreat but Outlook Remains Positive
- Stock Pullback: Corning shares fell approximately 6.5% on Thursday after a four-day rally exceeding 23%, yet the stock remains up over 70% year-to-date, making it one of the top performers in the S&P 500, indicating strong market confidence.
- Analyst Target Increase: Citi raised Corning's price target from $120 to $170, reflecting optimistic growth expectations, while the investment club also increased its target from $140 to $160, showcasing confidence in the company's role in AI infrastructure.
- Fiber Optics Growth: Corning's optical communications segment achieved a 35% revenue growth and a 71% net income increase in 2025, primarily driven by the rising demand for fiber optic cables in data centers, highlighting the company's critical position in the cloud computing market.
- Partnerships with Major Clients: Corning secured a fiber optic cable supply agreement with Meta worth up to $6 billion, with expectations of forming more partnerships with large tech firms, further solidifying its leadership in the fiber optics market.
See More
BofA Downgrades Southern Copper and Vale Ratings
- Southern Copper Downgrade: Bank of America downgraded Southern Copper (SCCO) from Neutral to Underperform, citing stretched valuations with a 2026 EV/EBITDA of 16.3x and a thin free cash flow yield of 3%, alongside a projected 3% production decline from 938M tons in 2025 to 910M tons in 2027, indicating a lack of catalysts to reverse these trends.
- Unfavorable Market Outlook: While BofA maintains a constructive medium-term outlook for copper, analysts believe that Southern Copper's current share price already reflects an overly optimistic scenario that is unlikely to materialize in the near term, raising concerns about its future performance.
- Vale Rating Adjustment: Bank of America downgraded Vale (VALE) from Buy to Neutral, noting that despite strong operational performance in 2025, iron ore prices have fallen below $100/ton, and with expected 2%-3% declines in Chinese steel demand, the upside potential for the stock appears limited.
- Operational Performance vs. Market Risks: Although Vale's operational outlook remains solid, as indicated by recent results, BofA believes that the current share price has already captured most of the near-term potential, reflecting a cautious market sentiment regarding future growth.
See More
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several stocks, reflecting varying market outlooks that could influence investor decisions and market trends.
- Upgrades and Downgrades: While specific stock names are not mentioned, such rating changes typically lead to stock price volatility, prompting investors to pay close attention to these shifts for portfolio optimization.
- Market Reaction Expectations: The adjustments in analysts' ratings may trigger short-term market reactions, especially when investor sentiment towards specific stocks is sensitive, thereby impacting overall market sentiment.
- Enhanced Information Transparency: By providing a comprehensive view of analyst rating changes, investors can better understand market dynamics and make more informed investment decisions, thereby improving market transparency and efficiency.
See More
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several companies, including upgrades, downgrades, and initiations, reflecting varying market perspectives on these firms.
- Market Dynamics: While specific company names are not mentioned, changes in analyst ratings typically influence investor decisions and can lead to price fluctuations in the affected stocks.
- Investor Focus: Investors considering buying TTD stock should pay attention to the latest insights from analysts to make more informed investment choices.
- Source of Information: This information is provided by Benzinga, highlighting the significance of analyst ratings in the market, and investors are encouraged to regularly check for updates.
See More
