Wall Street Zen Upgrades Southern Copper (NYSE:SCCO) to “Buy”

Southern Copper (NYSE:SCCO) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued reports about the stock. Citigroup restated a “sell” rating on shares of Southern Copper in a research report on Monday, January 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research note on Monday, December 29th. Wells Fargo & Company set a $190.38 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $116.51 price objective (down from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. Finally, UBS Group reissued a “sell” rating and issued a $148.74 target price (up previously from $146.75) on shares of Southern Copper in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, Southern Copper presently has an average rating of “Reduce” and an average price target of $136.49.

Southern Copper Trading Up 3.6%

Southern Copper stock opened at $200.99 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. Southern Copper has a fifty-two week low of $74.84 and a fifty-two week high of $218.81. The stock has a market cap of $163.24 billion, a P/E ratio of 37.78, a PEG ratio of 1.65 and a beta of 1.06. The firm’s fifty day moving average price is $173.75 and its 200-day moving average price is $138.54.

Insider Activity

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 403 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were 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 in the company, valued at $175,731.28. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of Southern Copper stock in a transaction dated 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 transaction, the director owned 605 shares in the company, valued at approximately $126,783.04. This represents a 93.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Southern Copper

A number of large investors have recently bought and sold shares of the stock. Lloyd Advisory Services LLC. bought a new position in shares of Southern Copper in the fourth quarter worth approximately $29,000. Virtus Advisers LLC purchased a new stake in Southern Copper during the 4th quarter valued at $29,000. Godfrey Financial Associates Inc. bought a new stake in Southern Copper in the 4th quarter worth $30,000. Hopwood Financial Services Inc. bought a new stake in Southern Copper in the 3rd quarter worth $25,000. Finally, MJT & Associates Financial Advisory Group Inc. increased its position 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 acquiring an additional 84 shares during the period. 7.94% of the stock is owned by hedge funds and other 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.