Southern Copper (NYSE:SCCO) Upgraded to Buy at Wall Street Zen

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

A number of other research analysts have also commented on SCCO. Wells Fargo & Company set a $190.38 price objective on Southern Copper and gave the company an “equal weight” rating in a research report on Thursday, January 29th. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. UBS Group reiterated a “sell” rating and issued a $148.74 price objective (up from $146.75) on shares of Southern Copper in a research report on Tuesday, February 3rd. Scotiabank reissued an “underperform” rating on shares of Southern Copper in a report on Tuesday, January 27th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $127.91 target price on shares of Southern Copper in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, Southern Copper currently has a consensus rating of “Reduce” and an average target price of $136.49.

Southern Copper Trading Up 3.6%

SCCO opened at $200.99 on Friday. Southern Copper has a 1-year low of $74.84 and a 1-year high of $218.81. The stock has a market capitalization of $163.24 billion, a PE ratio of 37.78, a PEG ratio of 1.60 and a beta of 1.07. The company has a current ratio of 4.52, a quick ratio of 3.91 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $173.75 and a two-hundred day moving average price of $137.92.

Insider Buying and Selling

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the sale, the director owned 605 shares of the company’s stock, valued at approximately $126,783.04. This represents a 93.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of Southern Copper stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total transaction of $55,544.87. Following the transaction, the director directly owned 1,275 shares in the company, valued at approximately $175,731.28. This represents a 24.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.07% of the company’s stock.

Institutional Trading of Southern Copper

Hedge funds have recently bought and sold shares of the stock. Lloyd Advisory Services LLC. bought a new stake in shares of Southern Copper during the fourth quarter worth $29,000. Virtus Advisers LLC acquired a new position in Southern Copper in the 4th quarter worth $29,000. Godfrey Financial Associates Inc. bought a new position in Southern Copper during the 4th quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Southern Copper in the 3rd quarter valued at about $25,000. Finally, MJT & Associates Financial Advisory Group Inc. lifted its holdings in shares of Southern Copper by 65.1% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

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.