StockNews.com Lowers Southern Copper (NYSE:SCCO) to Hold

Southern Copper (NYSE:SCCO) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other equities research analysts have also recently weighed in on the stock. CICC Research started coverage on shares of Southern Copper in a report on Wednesday, April 24th. They issued an “outperform” rating on the stock. Morgan Stanley upped their price target on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 30th. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price on the stock. in a report on Monday, April 22nd. Scotiabank raised their price target on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a report on Thursday, April 18th. Finally, The Goldman Sachs Group upped their price target on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. Five research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $90.50.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $112.98 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56. Southern Copper has a 1 year low of $64.66 and a 1 year high of $121.00. The company’s 50-day moving average is $104.59 and its 200 day moving average is $87.89. The stock has a market capitalization of $87.35 billion, a P/E ratio of 37.16, a P/E/G ratio of 3.25 and a beta of 1.27.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the sale, the director now directly owns 4,614 shares of the company’s stock, valued at $546,759. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 600 shares of company stock valued at $63,430. Insiders own 0.08% of the company’s stock.

Institutional Trading of Southern Copper

Institutional investors have recently modified their holdings of the company. Fortis Group Advisors LLC increased its holdings in shares of Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 151 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Southern Copper in the 1st quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in shares of Southern Copper in the 1st quarter valued at $27,000. Viking Fund Management LLC acquired a new stake in shares of Southern Copper in the fourth quarter worth $31,000. Finally, Venturi Wealth Management LLC lifted its position in Southern Copper by 164.8% during the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 300 shares during the period. 7.94% of the stock is currently owned by institutional investors.

About Southern Copper

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.