Macquarie assumed coverage on shares of Southern Copper (NYSE:SCCO) in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued an underperform rating and a $35.00 price objective on the basic materials company’s stock.
A number of other research analysts have also issued reports on the company. Zacks Investment Research raised Investar from a hold rating to a buy rating and set a $27.00 target price on the stock in a report on Tuesday, June 4th. HSBC reissued a hold rating on shares of Deutsche Bank in a report on Tuesday, March 19th. Finally, ValuEngine raised United Overseas Bank from a sell rating to a hold rating in a report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $51.95.
Shares of NYSE:SCCO traded down $0.40 during trading on Wednesday, reaching $36.85. The company had a trading volume of 923,400 shares, compared to its average volume of 955,003. The company has a market cap of $28.37 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.25 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.83 and a quick ratio of 1.91. The firm’s fifty day moving average price is $36.74. Southern Copper has a fifty-two week low of $29.01 and a fifty-two week high of $49.56.
Southern Copper (NYSE:SCCO) last released its earnings results on Monday, April 29th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.04). The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.85 billion. Southern Copper had a net margin of 20.84% and a return on equity of 22.04%. On average, equities research analysts expect that Southern Copper will post 2.27 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of SCCO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Southern Copper by 176.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,556 shares of the basic materials company’s stock worth $776,000 after purchasing an additional 12,473 shares in the last quarter. Deutsche Bank AG boosted its position in Southern Copper by 2.2% during the fourth quarter. Deutsche Bank AG now owns 1,645,479 shares of the basic materials company’s stock worth $50,627,000 after purchasing an additional 35,903 shares in the last quarter. Guild Investment Management Inc. purchased a new stake in Southern Copper during the first quarter worth $2,170,000. Dimensional Fund Advisors LP boosted its position in Southern Copper by 9.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 305,029 shares of the basic materials company’s stock worth $9,386,000 after purchasing an additional 26,430 shares in the last quarter. Finally, CoreCommodity Management LLC boosted its position in Southern Copper by 50.6% during the fourth quarter. CoreCommodity Management LLC now owns 50,724 shares of the basic materials company’s stock worth $1,561,000 after purchasing an additional 17,040 shares in the last quarter. Hedge funds and other institutional investors own 6.84% of the company’s stock.
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 and lead.
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