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

Southern Copper (NYSE:SCCO)‘s stock had its “buy (b-)” rating reissued by equities researchers at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Several other research firms also recently 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, October 6th. Citigroup reiterated a “sell” rating and set a $108.00 target price (up from $89.10) on shares of Southern Copper in a research report on Wednesday, October 8th. HSBC reiterated a “hold” rating and set a $118.00 target price (up from $105.00) on shares of Southern Copper in a research report on Friday, October 17th. JPMorgan Chase & Co. increased their target price on Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Finally, The Goldman Sachs Group set a $89.00 target price on Southern Copper and gave the stock a “sell” rating in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $110.78.

Southern Copper Stock Up 0.8%

Shares of NYSE:SCCO opened at $129.41 on Friday. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. Southern Copper has a 52-week low of $74.84 and a 52-week high of $136.49. The stock’s fifty day simple moving average is $113.27 and its 200-day simple moving average is $101.14. The company has a market capitalization of $104.05 billion, a P/E ratio of 28.32, a P/E/G ratio of 1.21 and a beta of 1.02.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company’s 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 completion of the sale, the director directly owned 2,327 shares in the company, valued at $232,700. This represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 1,228 shares of company stock worth $123,102 in the last ninety days. Corporate insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Southern Copper

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCCO. GAMMA Investing LLC grew its stake in shares of Southern Copper by 35.2% in the first quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company’s stock valued at $85,000 after buying an additional 236 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Southern Copper by 42.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,773 shares of the basic materials company’s stock valued at $1,381,000 after buying an additional 4,391 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Southern Copper in the first quarter valued at about $337,000. Asset Management One Co. Ltd. grew its stake in shares of Southern Copper by 4.1% in the first quarter. Asset Management One Co. Ltd. now owns 16,408 shares of the basic materials company’s stock valued at $1,533,000 after buying an additional 645 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Southern Copper in the first quarter valued at about $59,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

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.