Southern Copper (NYSE:SCCO) Downgraded to “Hold” Rating by Wall Street Zen

Southern Copper (NYSE:SCCO) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other brokerages have also commented on SCCO. Citigroup restated a “sell” rating on shares of Southern Copper in a research report on Monday, January 12th. JPMorgan Chase & Co. restated an “underweight” rating and set a $116.51 price target (down from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. Bank of America lowered shares of Southern Copper from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $162.00 to $175.00 in a research note on Thursday. The Goldman Sachs Group reiterated a “sell” rating and set a $127.91 target price on shares of Southern Copper in a research report on Wednesday, January 14th. Finally, UBS Group restated a “sell” rating and issued a $148.74 price target (up from $146.75) on shares of Southern Copper in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, Southern Copper has a consensus rating of “Reduce” and a consensus target price of $139.99.

Southern Copper Price Performance

SCCO stock opened at $217.88 on Friday. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. The firm has a market cap of $176.96 billion, a price-to-earnings ratio of 40.96, a PEG ratio of 1.80 and a beta of 1.07. The company’s fifty day simple moving average is $180.98 and its 200 day simple moving average is $142.32. Southern Copper has a 12-month low of $74.84 and a 12-month high of $223.89.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 403 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $137.83, for a total value of $55,544.87. Following the transaction, the director owned 1,275 shares of the company’s stock, valued at approximately $175,731.28. This trade represents a 24.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total value of $1,954,344.91. Following the sale, the director directly owned 605 shares of the company’s stock, valued at $126,783.04. This represents a 93.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Southern Copper

Institutional investors have recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in shares of Southern Copper in the 3rd quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. lifted its holdings in Southern Copper by 65.1% during the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 84 shares during the period. Tobam purchased a new position in Southern Copper in the second quarter worth $29,000. Lloyd Advisory Services LLC. bought a new position in Southern Copper in the 4th quarter valued at $29,000. Finally, Virtus Advisers LLC purchased a new stake in shares of Southern Copper during the 4th quarter valued at $29,000. 7.94% of the stock is owned by institutional investors.

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.