Barclays analyst Richard Garchitorena has reaffirmed a Sell rating on Southern Copper (SCCO) with a price target of $165.00. Garchitorena, who covers the Basic Materials sector, has an average return of 5.5% and a 54.39% success rate on recommended stocks according to TipRanks.
Southern Copper has also received a Sell rating from Scotiabank’s Alfonso Salazar in a report issued on October 21. However, Wells Fargo maintained a Hold rating on the stock on October 23. The company recently reported quarterly revenue of $4.7 billion and a net profit of $1.8 billion for the quarter ending September 30, up from $3.38 billion in revenue and $1.11 billion in net profit last year.
Corporate insider sentiment for Southern Copper is currently negative, with 53 insiders showing increased selling activity. Last month, Director Luis Miguel Palomino Bonilla sold 100 shares for $20,000.00.