Southern Copper Corporation (NYSE:SCCO) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

SCCO has been the subject of several other research reports. Barclays PLC raised their target price on shares of Southern Copper Corporation from $33.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday, August 9th. HSBC Holdings plc lowered shares of Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price objective for the company. in a report on Wednesday, August 16th. Finally, Cowen and Company reiterated a “hold” rating and set a $39.00 price objective on shares of Southern Copper Corporation in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $35.33.

Southern Copper Corporation (NYSE:SCCO) opened at 43.70 on Tuesday. The company has a market capitalization of $33.78 billion, a P/E ratio of 34.36 and a beta of 0.53. Southern Copper Corporation has a 52 week low of $26.05 and a 52 week high of $44.15. The stock’s 50 day moving average is $40.47 and its 200 day moving average is $37.31.

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In related news, Chairman German Larrea Mota Velasco sold 25,070 shares of Southern Copper Corporation stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $39.50, for a total transaction of $990,265.00. Following the completion of the sale, the chairman now owns 3,477,097 shares in the company, valued at approximately $137,345,331.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 900,670 shares of company stock valued at $35,575,771 in the last quarter. 0.53% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Southern Copper Corporation by 406.0% in the 1st quarter. JPMorgan Chase & Co. now owns 108,608 shares of the basic materials company’s stock valued at $3,899,000 after purchasing an additional 87,142 shares in the last quarter. Swiss National Bank raised its holdings in shares of Southern Copper Corporation by 5.7% in the 2nd quarter. Swiss National Bank now owns 380,226 shares of the basic materials company’s stock valued at $13,167,000 after purchasing an additional 20,500 shares in the last quarter. Credit Suisse AG raised its holdings in shares of Southern Copper Corporation by 4.2% in the 1st quarter. Credit Suisse AG now owns 396,048 shares of the basic materials company’s stock valued at $14,214,000 after purchasing an additional 15,945 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Southern Copper Corporation in the 1st quarter valued at about $272,000. Finally, First Trust Advisors LP raised its holdings in shares of Southern Copper Corporation by 51.2% in the 2nd quarter. First Trust Advisors LP now owns 211,014 shares of the basic materials company’s stock valued at $7,307,000 after purchasing an additional 71,416 shares in the last quarter. Institutional investors and hedge funds own 6.05% of the company’s stock.

Southern Copper Corporation Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.

Analyst Recommendations for Southern Copper Corporation (NYSE:SCCO)

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