Southern Copper (NYSE:SCCO) Stock Rating Upgraded by Hsbc Global Res

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

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a report on Monday, April 14th. UBS Group cut their price objective on Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, Scotiabank raised their target price 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $91.50.

Southern Copper Trading Down 1.7 %

Southern Copper stock opened at $94.18 on Thursday. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market cap of $74.98 billion, a PE ratio of 21.80, a P/E/G ratio of 1.90 and a beta of 1.04. The stock’s 50 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.

Southern Copper (NYSE:SCCO) last released 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. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Analysts anticipate that Southern Copper will post 4.66 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after purchasing an additional 599,610 shares during the last quarter. Norges Bank acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $52,738,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Southern Copper during the 4th quarter valued at approximately $40,226,000. Renaissance Technologies LLC lifted its holdings in Southern Copper by 1,417.7% in the fourth quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company’s stock valued at $37,173,000 after acquiring an additional 381,035 shares during the last quarter. Finally, Northern Trust Corp grew its position in Southern Copper by 44.9% in the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company’s stock worth $104,484,000 after acquiring an additional 355,013 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

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.