Southern Copper (NYSE:SCCO) Upgraded to Hold at Wells Fargo & Company

Key Points

• Southern Copper was upgraded to a "hold" rating by analysts at Wells Fargo & Company in a report released on Wednesday.
• Currently, the stock has mixed ratings: two analysts assigned a Buy rating, six rated it as Hold, and three gave it a Sell rating, with an average consensus price target of $109.88.
• In the past quarter, insiders sold a total of 1,228 shares of Southern Copper stock, and now only 0.07% of the stock is owned by insiders.

Southern Copper (NYSE:SCCO - Get Free Report) was upgraded by analysts at Wells Fargo & Company to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group set a $89.00 price target on Southern Copper and gave the company a "sell" rating in a research note on Wednesday, September 17th. Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Southern Copper in a research note on Wednesday. Morgan Stanley set a $132.00 price target on Southern Copper and gave the company an "equal weight" rating in a research note on Wednesday. Finally, Citigroup reaffirmed a "sell" rating and issued a $108.00 price target (up previously from $89.10) on shares of Southern Copper in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Southern Copper has an average rating of "Reduce" and a consensus price target of $109.88.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $130.59 on Wednesday. Southern Copper has a 52 week low of $74.84 and a 52 week high of $136.50. The business's fifty day simple moving average is $105.82 and its 200-day simple moving average is $97.80. The firm has a market cap of $105.00 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the sale, the director owned 2,327 shares in the company, valued at approximately $232,700. The trade was a 15.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,228 shares of company stock valued at $123,102. 0.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Southern Copper

Large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas purchased a new stake in Southern Copper during the 1st quarter worth about $2,637,000. Golden State Wealth Management LLC purchased a new stake in Southern Copper during the 1st quarter worth about $29,000. Oppenheimer & Co. Inc. purchased a new stake in Southern Copper during the 1st quarter worth about $337,000. GAMMA Investing LLC increased its holdings in Southern Copper by 35.2% during the 1st quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock worth $85,000 after purchasing an additional 236 shares during the period. Finally, Novem Group increased its holdings in Southern Copper by 34.4% during the 1st quarter. Novem Group now owns 10,758 shares of the basic materials company's stock worth $1,005,000 after purchasing an additional 2,754 shares during the period. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Company Profile

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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