Southern Copper (NYSE:SCCO) Rating Increased to Buy at StockNews.com

Southern Copper (NYSE:SCCO) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

SCCO has been the topic of a number of other research reports. Scotiabank boosted their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. UBS Group dropped their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Hsbc Global Res upgraded shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 24th. Two investment 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $91.50.

Southern Copper Trading Up 1.1%

SCCO opened at $93.32 on Monday. Southern Copper has a fifty-two week low of $74.11 and a fifty-two week high of $126.09. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a market capitalization of $74.30 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.90 and a beta of 1.05. The company’s 50 day moving average price is $90.46 and its two-hundred day moving average price is $95.25.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Generali Investments CEE investicni spolecnost a.s. lifted its position in shares of Southern Copper by 0.7% during the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company’s stock valued at $1,409,000 after acquiring an additional 108 shares during the period. Larson Financial Group LLC increased its stake in Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 114 shares in the last quarter. Cadence Wealth Management LLC increased its stake in Southern Copper by 4.1% during the 4th quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 116 shares in the last quarter. Tyche Wealth Partners LLC increased its stake in Southern Copper by 0.6% during the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock valued at $1,805,000 after purchasing an additional 122 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in Southern Copper by 0.9% during the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock valued at $1,311,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds 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.