Southern Copper Corporation’s (SCCO) “Buy” Rating Reaffirmed at FBR & Co
Southern Copper Corporation (NYSE:SCCO)‘s stock had its “buy” rating reissued by FBR & Co in a report released on Monday.
Other equities analysts also recently issued reports about the company. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $40.00 price target on shares of Southern Copper Corporation in a research note on Monday. Cowen and Company reiterated a “hold” rating and issued a $39.00 price target on shares of Southern Copper Corporation in a research note on Wednesday, July 19th. BidaskClub upgraded Southern Copper Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. HSBC Holdings plc downgraded Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price target for the company. in a research note on Wednesday, August 16th. Finally, Barclays PLC lifted their price target on Southern Copper Corporation from $33.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Southern Copper Corporation presently has an average rating of “Hold” and an average price target of $36.00.
Southern Copper Corporation (NYSE:SCCO) traded up 0.83% during mid-day trading on Monday, hitting $43.49. The stock had a trading volume of 484,477 shares. Southern Copper Corporation has a 12-month low of $26.52 and a 12-month high of $44.15. The firm has a market cap of $33.62 billion, a PE ratio of 34.19 and a beta of 0.53. The company has a 50-day moving average of $40.82 and a 200-day moving average of $37.56.
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In other Southern Copper Corporation news, Chairman German Larrea Mota Velasco sold 135,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $39.44, for a total value of $5,324,400.00. Following the transaction, the chairman now owns 3,737,967 shares of the company’s stock, valued at $147,425,418.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 900,670 shares of company stock worth $35,575,771 in the last three months. 0.53% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. raised its holdings in shares of Southern Copper Corporation by 8,282.5% during the third quarter. Winslow Evans & Crocker Inc. now owns 6,706 shares of the basic materials company’s stock valued at $267,000 after buying an additional 6,626 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Southern Copper Corporation during the second quarter valued at approximately $790,000. Verition Fund Management LLC bought a new stake in shares of Southern Copper Corporation during the second quarter valued at approximately $447,000. Bank of Nova Scotia raised its holdings in shares of Southern Copper Corporation by 73.6% during the second quarter. Bank of Nova Scotia now owns 218,630 shares of the basic materials company’s stock valued at $7,573,000 after buying an additional 92,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Southern Copper Corporation during the second quarter valued at approximately $281,000. 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.
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