BidaskClub upgraded shares of Southern Copper Corporation (NYSE:SCCO) from a buy rating to a strong-buy rating in a report issued on Tuesday.
A number of other research firms have also weighed in on SCCO. Cowen and Company reiterated a hold rating and issued a $39.00 target price on shares of Southern Copper Corporation in a research note on Wednesday, July 19th. Barclays PLC increased their target price on Southern Copper Corporation from $33.00 to $35.00 and gave the stock an underweight rating in a research note on Wednesday, August 9th. Finally, HSBC Holdings plc lowered Southern Copper Corporation from a buy rating to a hold rating and set a $41.00 target price on the stock. in a research note on Wednesday, August 16th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Southern Copper Corporation presently has an average rating of Hold and a consensus target price of $35.33.
Shares of Southern Copper Corporation (NYSE SCCO) opened at 43.13 on Tuesday. Southern Copper Corporation has a 12-month low of $26.05 and a 12-month high of $43.89. The company has a 50-day moving average of $40.82 and a 200 day moving average of $37.56. The company has a market cap of $33.34 billion, a PE ratio of 33.91 and a beta of 0.53.
In other news, Chairman German Larrea Mota Velasco sold 504,800 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $39.51, for a total transaction of $19,944,648.00. Following the transaction, the chairman now owns 2,972,297 shares of the company’s stock, valued at approximately $117,435,454.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 900,670 shares of company stock worth $35,575,771 in the last three months. Corporate insiders own 0.53% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Winslow Evans & Crocker Inc. grew its position in shares of Southern Copper Corporation by 8,282.5% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 6,706 shares of the basic materials company’s stock worth $267,000 after buying an additional 6,626 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Southern Copper Corporation during the 2nd quarter worth $790,000. Verition Fund Management LLC bought a new position in shares of Southern Copper Corporation during the 2nd quarter worth $447,000. Bank of Nova Scotia grew its position in shares of Southern Copper Corporation by 73.6% during the 2nd quarter. Bank of Nova Scotia now owns 218,630 shares of the basic materials company’s stock worth $7,573,000 after buying an additional 92,700 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Southern Copper Corporation during the 2nd quarter worth $281,000. 6.05% of the stock is currently owned by institutional investors and hedge funds.
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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