Southern Copper Co. (NYSE:SCCO) Given Average Recommendation of “Reduce” by Brokerages

Shares of Southern Copper Co. (NYSE:SCCO) have been assigned an average recommendation of “Reduce” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $76.00.

SCCO has been the subject of several recent analyst reports. CICC Research started coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating for the company. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and lifted their price objective for the company from $91.00 to $130.00 in a report on Friday, March 22nd. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price for the company. in a research note on Monday, April 22nd. Scotiabank lifted their price target on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group increased their price objective on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction on Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the transaction, the director now owns 4,614 shares of the company’s stock, valued at approximately $546,759. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 600 shares of company stock valued at $63,430. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nilsine Partners LLC grew its holdings in Southern Copper by 1.9% during the 1st quarter. Nilsine Partners LLC now owns 5,719 shares of the basic materials company’s stock valued at $609,000 after buying an additional 109 shares during the last quarter. Wahed Invest LLC boosted its stake in shares of Southern Copper by 9.0% during the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock valued at $125,000 after acquiring an additional 120 shares during the last quarter. Janiczek Wealth Management LLC increased its position in Southern Copper by 11.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 127 shares in the last quarter. CWM LLC raised its stake in Southern Copper by 3.3% in the 4th quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 137 shares during the last quarter. Finally, First National Trust Co lifted its holdings in Southern Copper by 0.4% in the 4th quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock valued at $3,196,000 after purchasing an additional 150 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Up 3.3 %

SCCO opened at $120.85 on Tuesday. The business has a 50 day moving average price of $100.55 and a two-hundred day moving average price of $86.04. Southern Copper has a 52 week low of $64.66 and a 52 week high of $121.00. The company has a market cap of $93.43 billion, a PE ratio of 39.75, a P/E/G ratio of 3.35 and a beta of 1.29. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a return on equity of 30.29% and a net margin of 24.20%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.37 billion. As a group, research analysts anticipate that Southern Copper will post 3.95 EPS for the current year.

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.