Southern Copper Corp (SCCO) Receives Average Recommendation of “Hold” from Analysts
Southern Copper Corp (NYSE:SCCO) has been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $37.40.
Several research firms have recently issued reports on SCCO. B. Riley restated a “buy” rating on shares of Southern Copper in a report on Wednesday, November 1st. BidaskClub lowered shares of Southern Copper from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 23rd. Zacks Investment Research upgraded shares of Southern Copper from a “hold” rating to a “strong-buy” rating and set a $50.00 target price for the company in a report on Saturday, October 28th. Goldman Sachs Group restated a “neutral” rating and issued a $40.00 target price on shares of Southern Copper in a report on Monday, October 23rd. Finally, Santander upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Monday, December 18th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank lifted its holdings in Southern Copper by 5.7% during the 2nd quarter. Swiss National Bank now owns 380,226 shares of the basic materials company’s stock valued at $13,167,000 after buying an additional 20,500 shares in the last quarter. Sei Investments Co. lifted its holdings in Southern Copper by 23.9% during the 3rd quarter. Sei Investments Co. now owns 20,911 shares of the basic materials company’s stock valued at $831,000 after buying an additional 4,038 shares in the last quarter. Cypress Funds LLC bought a new stake in Southern Copper during the 3rd quarter valued at about $8,946,000. Macquarie Group Ltd. lifted its holdings in Southern Copper by 232.9% during the 3rd quarter. Macquarie Group Ltd. now owns 33,618 shares of the basic materials company’s stock valued at $1,336,000 after buying an additional 23,518 shares in the last quarter. Finally, Oakmont Corp bought a new stake in Southern Copper during the 3rd quarter valued at about $8,827,000. Institutional investors own 6.33% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Southern Copper Corp (SCCO) Receives Average Recommendation of “Hold” from Analysts” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/05/southern-copper-corp-scco-receives-average-recommendation-of-hold-from-analysts.html.
About Southern Copper
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.
Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.