Southern Copper Corp (NYSE:SCCO) has earned an average rating of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $38.89.
SCCO has been the subject of several research reports. Itau Unibanco downgraded Southern Copper to a “hold” rating and set a $45.00 price target for the company. in a research note on Tuesday, December 17th. ValuEngine downgraded Southern Copper from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. Itau BBA Securities reiterated a “market perform” rating on shares of Southern Copper in a research note on Tuesday, December 17th. UBS Group cut their target price on Southern Copper from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, Zacks Investment Research downgraded Southern Copper from a “hold” rating to a “sell” rating and set a $36.00 target price for the company. in a research note on Wednesday, October 16th.
In other Southern Copper news, Director Sanchez Mejorada Enri Castillo sold 12,825 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $36.89, for a total value of $473,114.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SCCO. FMR LLC raised its holdings in shares of Southern Copper by 548.8% in the 1st quarter. FMR LLC now owns 44,085 shares of the basic materials company’s stock valued at $1,749,000 after acquiring an additional 37,290 shares in the last quarter. US Bancorp DE raised its holdings in shares of Southern Copper by 56.0% in the 2nd quarter. US Bancorp DE now owns 3,402 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 1,221 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Southern Copper by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,036,258 shares of the basic materials company’s stock valued at $40,258,000 after acquiring an additional 15,195 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Southern Copper by 77.9% in the 2nd quarter. Invesco Ltd. now owns 364,774 shares of the basic materials company’s stock valued at $14,171,000 after acquiring an additional 159,680 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Southern Copper in the 2nd quarter valued at about $1,479,000. Institutional investors and hedge funds own 6.26% of the company’s stock.
SCCO stock opened at $37.97 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.18 and a current ratio of 2.92. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.72 and a beta of 0.96. Southern Copper has a fifty-two week low of $29.39 and a fifty-two week high of $44.82. The stock has a fifty day moving average of $42.15 and a 200-day moving average of $36.71.
Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, October 25th. The basic materials company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. Southern Copper had a return on equity of 21.86% and a net margin of 20.68%. Equities analysts predict that Southern Copper will post 1.97 EPS for the current year.
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 and lead.
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