Southern Copper (SCCO) Upgraded at Santander

Southern Copper (NYSE:SCCO) was upgraded by research analysts at Santander from a “hold” rating to a “buy” rating in a note issued to investors on Monday, The Fly reports.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. B. Riley reiterated a “buy” rating on shares of Southern Copper in a research note on Wednesday, November 1st. Cowen lifted their price target on shares of Southern Copper from $39.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, November 3rd. BidaskClub lowered shares of Southern Copper from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. Finally, Scotiabank lowered shares of Southern Copper from a “sector perform” rating to an “underperform” rating in a research note on Monday, October 23rd. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.86.

Shares of Southern Copper (NYSE SCCO) traded up $0.41 on Monday, hitting $43.32. 1,512,000 shares of the stock were exchanged, compared to its average volume of 945,514. Southern Copper has a fifty-two week low of $31.55 and a fifty-two week high of $44.69. The firm has a market cap of $33,487.57, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 0.67 and a beta of 0.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.01 and a quick ratio of 2.00.

A number of large investors have recently made changes to their positions in SCCO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Southern Copper by 3.6% during the 2nd 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 during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Southern Copper by 7.1% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,507 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 500 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Southern Copper by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 279,380 shares of the basic materials company’s stock worth $9,675,000 after purchasing an additional 703 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Southern Copper by 12.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 7,274 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 832 shares during the last quarter. Finally, GAM Holding AG grew its position in Southern Copper by 0.8% during the 2nd quarter. GAM Holding AG now owns 134,483 shares of the basic materials company’s stock worth $4,657,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 6.34% of the company’s stock.

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Southern Copper 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.