Wall Street Zen Downgrades Southern Copper (NYSE:SCCO) to Hold

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

A number of other research analysts also recently issued reports on the company. UBS Group reissued a “sell” rating and issued a $148.74 price objective (up from $146.75) on shares of Southern Copper in a research note on Tuesday, February 3rd. Itau BBA Securities lowered Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 price target on the stock. in a research note on Monday, December 22nd. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $116.51 target price (down from $118.49) on shares of Southern Copper in a research report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $139.99.

Southern Copper Trading Up 0.3%

SCCO opened at $218.93 on Friday. Southern Copper has a twelve month low of $74.84 and a twelve month high of $223.88. The company has a fifty day moving average of $182.44 and a 200-day moving average of $143.49. The stock has a market cap of $177.81 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 403 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 1,275 shares of the company’s stock, valued at approximately $175,731.28. The trade was a 24.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the 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 completion of the sale, the director directly owned 605 shares of the company’s stock, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Southern Copper

Large investors have recently bought and sold shares of the stock. Rakuten Investment Management Inc. bought a new position in Southern Copper in the 3rd quarter valued at $2,976,000. Legal & General Group Plc raised its stake in shares of Southern Copper by 4.3% during the 2nd quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock worth $95,273,000 after purchasing an additional 38,856 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Southern Copper by 5.7% in the 3rd quarter. Nordea Investment Management AB now owns 148,484 shares of the basic materials company’s stock worth $17,778,000 after buying an additional 7,995 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Southern Copper by 2,631.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company’s stock valued at $1,631,000 after buying an additional 12,949 shares during the period. Finally, Alps Advisors Inc. increased its holdings in Southern Copper by 54.2% during the third quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company’s stock worth $4,326,000 after buying an additional 12,532 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Company Profile

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.