Macquarie assumed coverage on shares of Southern Copper (NYSE:SCCO) in a research report released on Wednesday, BenzingaRatingsTable reports. The brokerage issued an underperform rating and a $35.00 price objective on the basic materials company’s stock.
Other analysts have also recently issued research reports about the company. ValuEngine raised United Overseas Bank from a sell rating to a hold rating in a report on Monday, June 17th. HSBC reaffirmed a hold rating on shares of Deutsche Bank in a report on Tuesday, March 19th. Finally, Zacks Investment Research raised Investar from a hold rating to a buy rating and set a $27.00 price target on the stock in a report on Tuesday, June 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $51.95.
Shares of SCCO opened at $36.87 on Wednesday. The business’s 50-day moving average is $36.82. The stock has a market cap of $28.49 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.83 and a quick ratio of 1.91. Southern Copper has a 52-week low of $29.01 and a 52-week high of $49.56.
Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Monday, April 29th. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). Southern Copper had a net margin of 20.84% and a return on equity of 22.04%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.85 billion. As a group, research analysts predict that Southern Copper will post 2.27 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $32,000. Cullen Frost Bankers Inc. bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $55,000. NumerixS Investment Technologies Inc bought a new stake in shares of Southern Copper in the 4th quarter worth approximately $98,000. CENTRAL TRUST Co grew its position in shares of Southern Copper by 12.9% in the 1st quarter. CENTRAL TRUST Co now owns 4,481 shares of the basic materials company’s stock worth $178,000 after buying an additional 511 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $236,000. Institutional investors and hedge funds own 6.84% 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 and lead.
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