Southern Copper (NYSE:SCCO) Raised to Buy at StockNews.com

Southern Copper (NYSE:SCCO) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

SCCO has been the topic of a number of other reports. Scotiabank raised their price objective on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 18th. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target on the stock. in a research report on Monday, April 22nd. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and lifted their price target for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. JPMorgan Chase & Co. dropped their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. Finally, CICC Research began coverage on shares of Southern Copper in a report on Wednesday, April 24th. They issued an “outperform” rating on the stock. Five investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.00.

Southern Copper Price Performance

NYSE SCCO traded up $3.91 on Monday, reaching $120.85. 1,838,119 shares of the company’s stock traded hands, compared to its average volume of 1,158,105. The stock has a market cap of $93.43 billion, a PE ratio of 39.75, a P/E/G ratio of 3.35 and a beta of 1.29. Southern Copper has a 12 month low of $64.66 and a 12 month high of $121.00. The stock has a 50-day simple moving average of $100.55 and a 200 day simple moving average of $86.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.29%. As a group, research analysts predict that Southern Copper will post 3.95 earnings per share for the current year.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the sale, 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 accessible through this hyperlink. Over the last three months, insiders have sold 600 shares of company stock valued at $63,430. Company insiders own 0.08% of the company’s stock.

Institutional Trading of Southern Copper

Several large investors have recently bought and sold shares of SCCO. Nilsine Partners LLC raised its position in shares of Southern Copper by 1.9% in the 1st quarter. Nilsine Partners LLC now owns 5,719 shares of the basic materials company’s stock worth $609,000 after acquiring an additional 109 shares in the last quarter. Wahed Invest LLC grew its stake in Southern Copper by 9.0% in the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock worth $125,000 after purchasing an additional 120 shares during the period. Janiczek Wealth Management LLC raised its holdings in Southern Copper by 11.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 127 shares in the last quarter. CWM LLC lifted its position in Southern Copper by 3.3% during the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after buying an additional 137 shares during the period. Finally, First National Trust Co boosted its holdings in shares of Southern Copper by 0.4% during the 4th quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock valued at $3,196,000 after buying an additional 150 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Company Profile

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.