Southern Copper (NYSE:SCCO) Stock Rating Upgraded by Wall Street Zen

Southern Copper (NYSE:SCCO) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other research analysts have also issued reports on the stock. Scotiabank restated an “underperform” rating and set a $140.00 price target (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the stock an “equal weight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research note on Wednesday. Finally, UBS Group increased their price objective on Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $145.94.

Southern Copper Trading Down 1.9%

NYSE SCCO opened at $171.37 on Friday. Southern Copper has a 52 week low of $88.73 and a 52 week high of $223.88. The company has a 50 day moving average price of $183.33 and a 200 day moving average price of $178.82. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The firm has a market cap of $141.57 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the sale, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 404 shares of company stock worth $74,108 in the last three months. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Southern Copper

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors boosted its stake in shares of Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after buying an additional 1,708,693 shares during the last quarter. Norges Bank purchased a new position in Southern Copper during the fourth quarter valued at approximately $97,645,000. Capital Research Global Investors purchased a new position in Southern Copper during the fourth quarter valued at approximately $81,039,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Southern Copper in the first quarter valued at approximately $85,342,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Southern Copper in the fourth quarter valued at approximately $46,560,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.