Southern Copper (NYSE:SCCO) Rating Lowered to Hold at StockNews.com

Southern Copper (NYSE:SCCO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Other equities analysts have also recently issued reports about the stock. Scotiabank upped their price objective on shares of Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 18th. The Goldman Sachs Group increased their price target on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. CICC Research started coverage on Southern Copper in a report on Wednesday, April 24th. They issued an “outperform” rating for the company. Morgan Stanley increased their target price on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a report on Tuesday, April 30th. Finally, Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. Five investment 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’s stock. Based on data from MarketBeat, Southern Copper has an average rating of “Hold” and an average price target of $90.50.

Southern Copper Trading Down 1.8 %

Shares of SCCO stock opened at $112.98 on Tuesday. Southern Copper has a fifty-two week low of $64.66 and a fifty-two week high of $121.00. The company has a quick ratio of 2.56, a current ratio of 3.31 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $104.59 and a 200-day simple moving average of $87.89. The stock has a market cap 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 at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the transaction, the director now owns 4,614 shares of the company’s stock, valued at $546,759. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 600 shares of company stock worth $63,430 over the last 90 days. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Southern Copper

A number of institutional investors have recently added to or reduced their stakes in SCCO. US Bancorp DE boosted its stake in Southern Copper by 2.6% during the first quarter. US Bancorp DE now owns 57,344 shares of the basic materials company’s stock worth $6,108,000 after buying an additional 1,461 shares in the last quarter. Inspire Advisors LLC boosted its position in shares of Southern Copper by 18.5% during the 1st quarter. Inspire Advisors LLC now owns 17,187 shares of the basic materials company’s stock valued at $1,831,000 after acquiring an additional 2,683 shares in the last quarter. Sei Investments Co. increased its stake in Southern Copper by 6.1% in the first quarter. Sei Investments Co. now owns 67,123 shares of the basic materials company’s stock valued at $7,150,000 after acquiring an additional 3,833 shares during the period. Atomi Financial Group Inc. acquired a new position in Southern Copper in the first quarter worth about $863,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Southern Copper during the first quarter worth about $1,977,000. 7.94% of the stock is owned by institutional investors and hedge funds.

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.