Southern Copper (NYSE:SCCO) Rating Lowered to Hold at StockNews.com

Southern Copper (NYSE:SCCO) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other analysts have also recently issued reports on the stock. CICC Research began coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating on the stock. The Goldman Sachs Group lifted their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price on the stock. in a research note on Monday, April 22nd. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and lifted their price target for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Five analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Southern Copper presently has an average rating of “Hold” and a consensus price target of $90.50.

Southern Copper Stock Performance

Shares of NYSE SCCO traded down $2.97 during midday trading on Tuesday, hitting $115.07. The company’s stock had a trading volume of 1,000,597 shares, compared to its average volume of 1,184,883. The stock has a fifty day moving average price of $104.59 and a 200 day moving average price of $87.89. The firm has a market capitalization of $88.96 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 3.25 and a beta of 1.27. Southern Copper has a one year low of $64.66 and a one year high of $121.00. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82.

Southern Copper (NYSE:SCCO) last issued its earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.37 billion. On average, research analysts forecast that Southern Copper will post 4.01 EPS for the current fiscal year.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the transaction, the director now owns 4,614 shares in the company, valued at approximately $546,759. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 600 shares of company stock worth $63,430. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Southern Copper

A number of large investors have recently bought and sold shares of SCCO. AQR Capital Management LLC increased its position in Southern Copper by 7.0% during the 3rd quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock valued at $6,075,000 after purchasing an additional 5,296 shares during the period. Tyche Wealth Partners LLC purchased a new position in shares of Southern Copper during the fourth quarter valued at about $1,668,000. Raymond James Financial Services Advisors Inc. raised its stake in Southern Copper by 119.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock worth $3,548,000 after buying an additional 22,471 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Southern Copper by 8,523.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock worth $14,882,000 after buying an additional 170,902 shares during the period. Finally, Viking Fund Management LLC bought a new stake in Southern Copper during the 4th quarter valued at approximately $31,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

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.