Southern Copper (NYSE:SCCO) Upgraded by Hsbc Global Res to “Hold” Rating

Hsbc Global Res upgraded shares of Southern Copper (NYSE:SCCO) from a moderate sell rating to a hold rating in a research note published on Thursday,Zacks.com reports.

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

Southern Copper Stock Down 1.7 %

Shares of NYSE SCCO opened at $94.18 on Thursday. The stock has a market capitalization of $74.98 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The stock’s fifty day simple moving average is $90.73 and its two-hundred day simple moving average is $97.36. Southern Copper has a 12-month low of $74.84 and a 12-month high of $127.34. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.

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

Institutional Investors Weigh In On Southern Copper

Large investors have recently modified their holdings of the business. Capital World Investors grew its stake in Southern Copper by 0.6% during the 4th quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company’s stock valued at $385,684,000 after acquiring an additional 24,787 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Southern Copper by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company’s stock valued at $337,260,000 after purchasing an additional 15,037 shares in the last quarter. abrdn plc grew its position in shares of Southern Copper by 4.4% in the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock valued at $260,428,000 after purchasing an additional 118,909 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after purchasing an additional 599,610 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Southern Copper by 10.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,354,637 shares of the basic materials company’s stock worth $123,448,000 after buying an additional 130,710 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

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