Southern Copper (NYSE:SCCO) Upgraded at StockNews.com

Southern Copper (NYSE:SCCO - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Monday.

Other analysts have also recently issued research reports about the stock. CICC Research began coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They set an "outperform" rating on the stock. The Goldman Sachs Group boosted their price objective on Southern Copper from $61.00 to $82.00 and gave the stock a "sell" rating in a research report on Friday, March 22nd. Jefferies Financial Group upgraded Southern Copper from a "hold" rating to a "buy" rating and increased their target price for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. JPMorgan Chase & Co. reduced their price target on Southern Copper from $63.50 to $61.00 and set an "underweight" rating on the stock in a report on Thursday, March 21st. Finally, Scotiabank upped their price objective on Southern Copper from $53.00 to $55.00 and gave the company a "sector underperform" rating in a research note on Thursday, April 18th. Five analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat.com, Southern Copper currently has a consensus rating of "Hold" and a consensus target price of $76.00.

Southern Copper Price Performance

NYSE:SCCO traded up $3.91 during trading hours on Monday, hitting $120.85. The company's stock had a trading volume of 1,838,119 shares, compared to its average volume of 1,158,105. Southern Copper has a twelve month low of $64.66 and a twelve month high of $121.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46. The stock has a fifty day simple moving average of $100.55 and a 200-day simple moving average of $86.04. The company has a market capitalization of $93.43 billion, a P/E ratio of 39.75, a PEG ratio of 3.35 and a beta of 1.29.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.15). The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.29%. On average, analysts anticipate that Southern Copper will post 3.95 EPS for the current fiscal year.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the company's stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the sale, the director now directly owns 4,614 shares in the company, valued at $546,759. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 600 shares of company stock worth $63,430 over the last ninety days. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Southern Copper

A number of hedge funds have recently bought and sold shares of SCCO. Nilsine Partners LLC grew its holdings in Southern Copper by 1.9% during the 1st quarter. Nilsine Partners LLC now owns 5,719 shares of the basic materials company's stock worth $609,000 after acquiring an additional 109 shares during the period. Wahed Invest LLC grew its stake in Southern Copper by 9.0% during the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company's stock worth $125,000 after purchasing an additional 120 shares during the period. Janiczek Wealth Management LLC increased its holdings in Southern Copper by 11.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company's stock worth $106,000 after purchasing an additional 127 shares in the last quarter. CWM LLC lifted its stake in Southern Copper by 3.3% in the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company's stock valued at $373,000 after buying an additional 137 shares during the period. Finally, First National Trust Co lifted its stake in Southern Copper by 0.4% in the fourth quarter. First National Trust Co now owns 37,134 shares of the basic materials company's stock valued at $3,196,000 after buying an additional 150 shares during the period. Institutional investors own 7.94% of the company's stock.

About Southern Copper

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.

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