Southern Copper (NYSE:SCCO – Get Rating) had its price target dropped by investment analysts at Morgan Stanley from $66.00 to $52.00 in a research report issued on Wednesday, The Fly reports. Morgan Stanley’s price objective suggests a potential downside of 1.61% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. StockNews.com cut Southern Copper from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 10th. Barclays reduced their price objective on Southern Copper from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Southern Copper presently has an average rating of “Hold” and a consensus target price of $60.88.
NYSE SCCO traded down $2.47 during trading hours on Wednesday, hitting $52.85. 1,529,949 shares of the company were exchanged, compared to its average volume of 1,241,822. The stock has a 50-day moving average price of $61.93 and a 200 day moving average price of $65.61. The company has a quick ratio of 2.75, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. Southern Copper has a 52 week low of $52.52 and a 52 week high of $79.32. The stock has a market cap of $40.86 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12.
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Southern Copper (NYSE:SCCO – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. Southern Copper had a return on equity of 42.00% and a net margin of 30.61%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.68 billion. As a group, sell-side analysts anticipate that Southern Copper will post 4.14 earnings per share for the current year.
Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Southern Copper by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 384,135 shares of the basic materials company’s stock valued at $21,570,000 after purchasing an additional 2,468 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of Southern Copper in the third quarter valued at approximately $95,000. Invesco Ltd. boosted its holdings in shares of Southern Copper by 9.0% in the third quarter. Invesco Ltd. now owns 119,334 shares of the basic materials company’s stock valued at $6,699,000 after purchasing an additional 9,855 shares during the period. LPL Financial LLC boosted its holdings in shares of Southern Copper by 13.1% in the third quarter. LPL Financial LLC now owns 61,699 shares of the basic materials company’s stock valued at $3,464,000 after purchasing an additional 7,140 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Southern Copper by 7.7% in the third quarter. UBS Group AG now owns 155,848 shares of the basic materials company’s stock valued at $8,750,000 after purchasing an additional 11,152 shares during the period. Institutional investors and hedge funds own 6.83% of the company’s stock.
Southern Copper Company Profile (Get Rating)
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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Read More: Southern Copper (NYSE:SCCO) Price Target Cut to $52.00 by Analysts at Morgan
