Southern Copper (SCCO) Upgraded by Zacks Investment Research to “Buy”

Southern Copper (NYSE:SCCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $54.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 18.97% from the stock’s previous close.

According to Zacks, “Southern Copper Corporation is a mining metallurgical company, producer of copper and valuable by-products. “

Several other research analysts also recently commented on SCCO. BidaskClub upgraded shares of Southern Copper from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 17th. Goldman Sachs Group restated a “neutral” rating and set a $40.00 price objective on shares of Southern Copper in a report on Monday, October 23rd. FBR & Co restated a “buy” rating on shares of Southern Copper in a report on Monday, October 23rd. Scotiabank downgraded shares of Southern Copper from a “sector perform” rating to an “underperform” rating in a report on Monday, October 23rd. Finally, Cowen boosted their price objective on shares of Southern Copper from $39.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $45.07.

Southern Copper (NYSE SCCO) opened at $45.39 on Friday. The company has a market cap of $36,502.38, a price-to-earnings ratio of 29.47, a P/E/G ratio of 0.58 and a beta of 0.59. Southern Copper has a twelve month low of $32.63 and a twelve month high of $50.90. The company has a quick ratio of 2.00, a current ratio of 3.01 and a debt-to-equity ratio of 0.90.

Several large investors have recently bought and sold shares of SCCO. Vanguard Group Inc. boosted its position in shares of Southern Copper by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 751,901 shares of the basic materials company’s stock valued at $26,038,000 after acquiring an additional 13,612 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Southern Copper by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 279,380 shares of the basic materials company’s stock valued at $9,675,000 after acquiring an additional 703 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Southern Copper by 9.8% during the 2nd quarter. Voya Investment Management LLC now owns 43,255 shares of the basic materials company’s stock valued at $1,498,000 after acquiring an additional 3,859 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Southern Copper by 20.6% during the 2nd quarter. Stifel Financial Corp now owns 31,223 shares of the basic materials company’s stock valued at $1,082,000 after acquiring an additional 5,329 shares in the last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in shares of Southern Copper during the 2nd quarter valued at about $1,717,000. Institutional investors own 6.56% of the company’s stock.

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Southern Copper 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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