Southern Copper (NYSE:SCCO) Upgraded at Zacks Research

Southern Copper (NYSE:SCCO) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

SCCO has been the subject of several other reports. Morgan Stanley upped their price objective on Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a research report on Wednesday. Weiss Ratings cut Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Barclays initiated coverage on Southern Copper in a research report on Thursday, May 21st. They set an “underweight” rating and a $148.00 price target for the company. Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, UBS Group reiterated a “sell” rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $147.10.

Southern Copper Price Performance

SCCO stock opened at $175.99 on Thursday. The stock has a 50-day moving average price of $181.14 and a two-hundred day moving average price of $180.93. Southern Copper has a 1 year low of $88.73 and a 1 year high of $223.88. The stock has a market cap of $145.38 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the transaction, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 404 shares of company stock worth $74,108 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Institutional Trading of Southern Copper

A number of institutional investors have recently modified their holdings of the stock. SHP Wealth Management bought a new stake in Southern Copper during the fourth quarter worth $25,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper in the 4th quarter valued at $29,000. Virtus Advisers LLC bought a new position in shares of Southern Copper in the 4th quarter valued at $29,000. Godfrey Financial Associates Inc. bought a new position in shares of Southern Copper in the 4th quarter valued at $30,000. Finally, IFP Advisors Inc raised its holdings in shares of Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after buying an additional 161 shares in the last quarter. 7.94% of the stock is currently owned by 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.