Shares of Southern Copper Corporation (NYSE:SCCO) have earned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $35.33.

A number of research firms recently issued reports on SCCO. Cowen and Company reiterated a “hold” rating and set a $39.00 target price on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. BidaskClub upgraded shares of Southern Copper Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. HSBC Holdings plc downgraded shares of Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 target price on the stock. in a research report on Wednesday, August 16th. Finally, Barclays PLC boosted their target price on shares of Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, August 9th.

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In other Southern Copper Corporation news, Chairman German Larrea Mota Velasco sold 25,070 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $39.50, for a total transaction of $990,265.00. Following the transaction, the chairman now owns 3,477,097 shares in the company, valued at $137,345,331.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 900,670 shares of company stock worth $35,575,771. Corporate insiders own 0.53% of the company’s stock.

Several hedge funds have recently made changes to their positions in SCCO. UBS Asset Management Americas Inc. raised its holdings in shares of Southern Copper Corporation by 25.0% in the first quarter. UBS Asset Management Americas Inc. now owns 191,366 shares of the basic materials company’s stock valued at $6,868,000 after purchasing an additional 38,318 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 87,142 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of Southern Copper Corporation in the first quarter valued at about $222,000. Principal Financial Group Inc. raised its holdings in shares of Southern Copper Corporation by 5.3% in the first quarter. Principal Financial Group Inc. now owns 77,548 shares of the basic materials company’s stock valued at $2,783,000 after purchasing an additional 3,890 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Southern Copper Corporation by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,827 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 6.05% of the company’s stock.

Shares of Southern Copper Corporation (NYSE:SCCO) traded down 0.37% during midday trading on Friday, hitting $43.13. 957,869 shares of the company were exchanged. The firm has a market capitalization of $33.34 billion, a price-to-earnings ratio of 33.91 and a beta of 0.53. The firm’s 50 day moving average price is $40.82 and its 200 day moving average price is $37.56. Southern Copper Corporation has a one year low of $26.52 and a one year high of $44.15.

About Southern Copper Corporation

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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