Southern Copper Corporation (NYSE:SCCO) was downgraded by analysts at Scotiabank from a “sector perform” rating to an “underperform” rating in a research note issued to investors on Monday, The Fly reports.

A number of other equities analysts have also recently issued reports on SCCO. FBR & Co reaffirmed a “buy” rating on shares of Southern Copper Corporation in a research note on Monday. Goldman Sachs Group, Inc. (The) started coverage on shares of Southern Copper Corporation in a research note on Monday. They issued a “neutral” rating and a $40.00 price objective on the stock. Cowen and Company reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Southern Copper Corporation in a research note on Wednesday, July 19th. BidaskClub raised shares of Southern Copper Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, HSBC Holdings plc cut shares of Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a research note on Wednesday, August 16th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $36.00.

Southern Copper Corporation (NYSE:SCCO) traded up 0.90% during midday trading on Monday, reaching $43.52. The company’s stock had a trading volume of 449,177 shares. Southern Copper Corporation has a 52-week low of $26.52 and a 52-week high of $44.15. The stock has a market capitalization of $33.64 billion, a price-to-earnings ratio of 34.21 and a beta of 0.53. The firm has a 50-day moving average price of $40.82 and a 200 day moving average price of $37.56.

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In other news, Chairman German Larrea Mota Velasco sold 135,000 shares of Southern Copper Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $39.44, for a total transaction of $5,324,400.00. Following the transaction, the chairman now directly owns 3,737,967 shares of the company’s stock, valued at $147,425,418.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 900,670 shares of company stock worth $35,575,771. Insiders own 0.53% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of Southern Copper Corporation by 114.5% during the second quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 1,971 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Southern Copper Corporation during the second quarter worth $134,000. FNY Partners Fund LP bought a new position in shares of Southern Copper Corporation during the first quarter worth $145,000. Sit Investment Associates Inc. boosted its position in shares of Southern Copper Corporation by 68.8% during the second quarter. Sit Investment Associates Inc. now owns 5,400 shares of the basic materials company’s stock worth $187,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Southern Copper Corporation by 3.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,820 shares of the basic materials company’s stock worth $202,000 after purchasing an additional 200 shares in the last quarter. 6.05% of the stock is currently 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.

The Fly

Analyst Recommendations for Southern Copper Corporation (NYSE:SCCO)

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