Southern Copper (NYSE:SCCO) Raised to “Hold” at Hsbc Global Res

Southern Copper (NYSE:SCCO) was upgraded by investment analysts at Hsbc Global Res from a “moderate sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on SCCO. Scotiabank raised their price objective on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. decreased their target price on Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, UBS Group lowered their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $91.50.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $94.18 on Thursday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper has a 52 week low of $74.84 and a 52 week high of $127.34. The firm has a fifty day simple moving average of $90.73 and a two-hundred day simple moving average of $97.36. The stock has a market capitalization of $74.98 billion, a P/E ratio of 21.80, a PEG ratio of 1.90 and a beta of 1.04.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. On average, analysts expect that Southern Copper will post 4.66 earnings per share for the current fiscal year.

Institutional Trading of Southern Copper

A number of hedge funds and other institutional investors have recently modified their holdings of SCCO. Golden State Wealth Management LLC acquired a new stake in shares of Southern Copper during the first quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Southern Copper during the fourth quarter worth $30,000. Deseret Mutual Benefit Administrators boosted its position in shares of Southern Copper by 210.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after buying an additional 257 shares during the period. IFP Advisors Inc raised its holdings in shares of Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after buying an additional 281 shares during the period. Finally, Spire Wealth Management acquired a new position in Southern Copper during the 4th quarter worth about $47,000. 7.94% of the stock is owned by institutional investors and hedge funds.

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.