Southern Copper Corporation (NYSE:SCCO) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, October 17th.
Several other equities research analysts also recently commented on the stock. Cowen and Company restated a “hold” rating and issued a $39.00 price target on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. HSBC Holdings plc downgraded shares of Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price target for the company. in a research report on Wednesday, August 16th. Finally, Barclays PLC upped their price target on shares of Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $36.00.
Southern Copper Corporation (SCCO) opened at 43.22 on Tuesday. Southern Copper Corporation has a 52 week low of $26.52 and a 52 week high of $44.69. The company’s 50-day moving average price is $41.06 and its 200 day moving average price is $37.73. The stock has a market capitalization of $33.41 billion, a P/E ratio of 33.98 and a beta of 0.53.
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In other Southern Copper Corporation news, Chairman German Larrea Mota Velasco sold 25,070 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $39.50, for a total value of $990,265.00. Following the sale, the chairman now directly owns 3,477,097 shares in the company, valued at approximately $137,345,331.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 900,670 shares of company stock worth $35,575,771 over the last 90 days. Company insiders own 0.53% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SCCO. Bessemer Group Inc. lifted its holdings in Southern Copper Corporation by 114.5% during the 2nd quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 1,971 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Southern Copper Corporation in the second quarter worth about $134,000. FNY Partners Fund LP bought a new position in shares of Southern Copper Corporation in the first quarter worth about $145,000. Sit Investment Associates Inc. grew its position in shares of Southern Copper Corporation by 68.8% during the 2nd quarter. Sit Investment Associates Inc. now owns 5,400 shares of the basic materials company’s stock worth $187,000 after buying an additional 2,200 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Southern Copper Corporation 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 buying an additional 200 shares during the period. 6.06% of the stock is owned by hedge funds and other institutional investors.
Southern Copper Corporation 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.
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