Southern Copper Corporation (NYSE:SCCO) was downgraded by equities researchers at HSBC Holdings plc to a “hold” rating in a research note issued on Wednesday. They presently have a $41.00 target price on the basic materials company’s stock. HSBC Holdings plc’s price objective points to a potential upside of 6.19% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. FBR & Co lowered their target price on Southern Copper Corporation from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, June 16th. Cowen and Company reaffirmed a “hold” rating and issued a $39.00 target price on shares of Southern Copper Corporation in a report on Wednesday, July 19th. BidaskClub raised Southern Copper Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Barclays PLC upped their target price on Southern Copper Corporation from $33.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.97.

Shares of Southern Copper Corporation (NYSE SCCO) opened at 38.61 on Wednesday. The company has a 50-day moving average price of $37.54 and a 200-day moving average price of $36.29. Southern Copper Corporation has a 12 month low of $24.90 and a 12 month high of $39.94. The firm has a market capitalization of $29.85 billion, a price-to-earnings ratio of 30.35 and a beta of 0.55.

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In other news, Chairman German Larrea Mota Velasco sold 25,070 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $39.50, for a total value of $990,265.00. Following the completion of the sale, the chairman now owns 3,477,097 shares of the company’s stock, valued at $137,345,331.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 900,670 shares of company stock valued at $35,575,771. Insiders own 0.53% of the company’s stock.

Several large investors have recently modified their holdings of SCCO. BNP Paribas Arbitrage SA raised its stake in shares of Southern Copper Corporation by 13.4% in the third quarter. BNP Paribas Arbitrage SA now owns 198,591 shares of the basic materials company’s stock valued at $5,223,000 after buying an additional 23,425 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Southern Copper Corporation by 406.0% in the first quarter. JPMorgan Chase & Co. now owns 108,608 shares of the basic materials company’s stock valued at $3,899,000 after buying an additional 87,142 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Southern Copper Corporation by 101.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 620,523 shares of the basic materials company’s stock valued at $16,320,000 after buying an additional 312,793 shares during the last quarter. Personal Capital Advisors Corp raised its stake in shares of Southern Copper Corporation by 10.2% in the second quarter. Personal Capital Advisors Corp now owns 627,138 shares of the basic materials company’s stock valued at $16,920,000 after buying an additional 58,035 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Southern Copper Corporation by 20.5% in the fourth quarter. Nordea Investment Management AB now owns 51,960 shares of the basic materials company’s stock valued at $1,357,000 after buying an additional 8,834 shares during the last quarter. 6.34% of the stock is owned by institutional investors.

Southern Copper Corporation Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.

Analyst Recommendations for Southern Copper Corporation (NYSE:SCCO)

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