Weiss Ratings Reiterates "Buy (B-)" Rating for Southern Copper (NYSE:SCCO)

Key Points

• Weiss Ratings has reiterated a "Buy (B-)" rating for Southern Copper (NYSE:SCCO), indicating confidence in the stock's potential for growth.
• Several analysts have varied price targets for Southern Copper, with Jefferies Financial Group setting the highest at $155.00 and Citigroup having the lowest at $108.00.
• SCCO shares have risen 4.6% recently, trading at approximately $132.53 with financial ratios indicating solid performance metrics.

Southern Copper (NYSE:SCCO - Get Free Report)'s stock had its "buy (b-)" rating restated by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also weighed in on SCCO. Jefferies Financial Group set a $155.00 target price on Southern Copper and gave the stock a "buy" rating in a research report on Monday. Wells Fargo & Company set a $121.00 price objective on Southern Copper and gave the company an "equal weight" rating in a research report on Tuesday. UBS Group reissued a "buy" rating on shares of Southern Copper in a research report on Friday, September 19th. Morgan Stanley set a $132.00 price objective on Southern Copper and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Citigroup reissued a "sell" rating and issued a $108.00 price objective (up from $89.10) on shares of Southern Copper in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $109.88.

Southern Copper Trading Up 4.6%

Shares of SCCO opened at $132.53 on Wednesday. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $106.56 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 1.29 and a beta of 1.02. The stock's fifty day simple moving average is $105.09 and its 200 day simple moving average is $97.59. Southern Copper has a twelve month low of $74.84 and a twelve month high of $134.49.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the sale, the director directly owned 2,327 shares of the company's stock, valued at approximately $232,700. The trade was a 15.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,228 shares of company stock worth $123,102 over the last 90 days. 0.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Southern Copper

A number of hedge funds have recently bought and sold shares of SCCO. GAMMA Investing LLC grew its stake in Southern Copper by 35.2% in the first quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock worth $85,000 after purchasing an additional 236 shares in the last quarter. Greenwood Capital Associates LLC boosted its stake in Southern Copper by 5.6% in the first quarter. Greenwood Capital Associates LLC now owns 15,742 shares of the basic materials company's stock valued at $1,471,000 after acquiring an additional 831 shares during the period. Polianta Ltd acquired a new position in Southern Copper in the first quarter valued at approximately $1,233,000. Randolph Co Inc boosted its stake in Southern Copper by 0.5% in the first quarter. Randolph Co Inc now owns 195,458 shares of the basic materials company's stock valued at $18,268,000 after acquiring an additional 913 shares during the period. Finally, Marshall Financial Group LLC boosted its stake in Southern Copper by 1.4% in the first quarter. Marshall Financial Group LLC now owns 21,691 shares of the basic materials company's stock valued at $2,027,000 after acquiring an additional 292 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

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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