Southern Copper shares are trading lower amid a decline in copper futures.
Portfolio Pulse from Benzinga Newsdesk
Southern Copper Corporation's stock (SCCO) is trading lower in correlation with a decrease in copper futures prices.
December 05, 2023 | 7:27 pm
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NEGATIVE IMPACT
Southern Copper Corporation's shares are down due to a drop in copper futures, which can affect the company's revenue prospects.
As a major producer of copper, Southern Copper Corporation's financial performance is closely tied to the price of copper. A decline in copper futures suggests a potential decrease in the commodity's price, which could lead to lower revenues for SCCO. This negative sentiment is likely to impact the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90