Southern Copper Co. (NYSE:SCCO) Given Average Rating of “Reduce” by Brokerages

Southern Copper Co. (NYSE:SCCO) has received a consensus recommendation of “Reduce” from the nine brokerages that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $94.81.

SCCO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a report on Monday, December 2nd. Scotiabank cut their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Citigroup upped their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $106.30 to $102.00 in a research report on Thursday, December 12th.

Institutional Trading of Southern Copper

A number of hedge funds have recently modified their holdings of the company. M&T Bank Corp raised its position in shares of Southern Copper by 0.5% in the 3rd quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock valued at $2,367,000 after acquiring an additional 105 shares during the period. Ensign Peak Advisors Inc increased its stake in Southern Copper by 1.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 108 shares in the last quarter. Tyche Wealth Partners LLC increased its stake in Southern Copper by 0.6% during the 3rd quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock worth $2,277,000 after purchasing an additional 109 shares in the last quarter. Greenwood Capital Associates LLC increased its stake in Southern Copper by 0.7% during the 3rd quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock worth $1,819,000 after purchasing an additional 112 shares in the last quarter. Finally, Inspire Advisors LLC increased its stake in Southern Copper by 3.9% during the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 113 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Down 2.3 %

Shares of NYSE:SCCO opened at $96.43 on Thursday. Southern Copper has a 12 month low of $77.42 and a 12 month high of $129.79. The company’s 50-day moving average price is $97.58 and its two-hundred day moving average price is $103.85. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The firm has a market cap of $75.75 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.95 and a beta of 1.14.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Southern Copper had a net margin of 27.67% and a return on equity of 37.11%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.94 billion. As a group, research analysts forecast that Southern Copper will post 4.4 EPS for the current fiscal year.

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, copper, molybdenum, silver, gold, and lead.