Southern Copper (NYSE:SCCO) Raised to “Neutral” at JPMorgan Chase & Co.

Southern Copper (NYSE:SCCO) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Monday, Marketbeat.com reports. The brokerage currently has a $92.50 target price on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 8.71% from the stock’s current price.

Several other analysts have also recently commented on the stock. Scotiabank decreased their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Citigroup lifted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley upped their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Southern Copper presently has an average rating of “Hold” and a consensus price target of $94.56.

Southern Copper Stock Up 1.3 %

Shares of Southern Copper stock opened at $101.33 on Monday. Southern Copper has a 1 year low of $70.92 and a 1 year high of $129.79. The company has a market cap of $79.59 billion, a P/E ratio of 26.09, a P/E/G ratio of 1.55 and a beta of 1.14. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average price of $109.72 and a 200 day moving average price of $107.97.

Institutional Investors Weigh In On Southern Copper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its position in shares of Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after purchasing an additional 30,966 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Southern Copper by 7.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after buying an additional 15,386 shares during the last quarter. Gateway Advisory LLC bought a new position in Southern Copper in the 2nd quarter worth approximately $625,000. BNP Paribas Financial Markets increased its position in Southern Copper by 1,601.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after buying an additional 181,252 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Southern Copper during the third quarter worth approximately $2,289,000. 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.