Southern Copper (NYSE:SCCO) Cut to Reduce at HSBC

HSBC lowered shares of Southern Copper (NYSE:SCCO) from a hold rating to a reduce rating in a research note published on Monday morning, Marketbeat.com reports. The firm currently has $80.00 target price on the basic materials company’s stock.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group upgraded shares of Southern Copper from a hold rating to a buy rating and upped their price objective for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. Scotiabank increased their price target on shares of Southern Copper from $53.00 to $55.00 and gave the stock a sector underperform rating in a research note on Thursday, April 18th. The Goldman Sachs Group increased their price target on shares of Southern Copper from $61.00 to $82.00 and gave the stock a sell rating in a research note on Friday, March 22nd. StockNews.com lowered shares of Southern Copper from a buy rating to a hold rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Southern Copper from $63.50 to $61.00 and set an underweight rating on the stock in a research note on Thursday, March 21st. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $76.00.

Southern Copper Stock Down 0.4 %

Southern Copper stock opened at $109.25 on Monday. The firm has a market cap of $84.46 billion, a PE ratio of 34.79, a P/E/G ratio of 3.20 and a beta of 1.29. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. The firm’s 50 day moving average price is $98.56 and its two-hundred day moving average price is $85.07. Southern Copper has a twelve month low of $64.66 and a twelve month high of $120.37.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.15). The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. On average, research analysts predict that Southern Copper will post 3.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Southern Copper by 7.0% in 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 bought a new stake in Southern Copper in the 4th quarter valued at $1,668,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Southern Copper by 119.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock valued at $3,548,000 after purchasing an additional 22,471 shares during the period. Viking Fund Management LLC bought a new stake in Southern Copper in the 4th quarter valued at $31,000. Finally, Ameriprise Financial Inc. boosted its holdings in Southern Copper by 17.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock valued at $51,854,000 after purchasing an additional 102,286 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

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.