Southern Copper (NYSE:SCCO) Stock Rating Lowered by Wall Street Zen

Southern Copper (NYSE:SCCO) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. CICC Research cut shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Citigroup reiterated a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Morgan Stanley reiterated an “underweight” rating and issued a $168.22 price target on shares of Southern Copper in a research report on Wednesday, October 7th. Weiss Ratings cut shares of Southern Copper from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 30th. Finally, UBS Group restated a “sell” rating and set a $178.11 price objective (up from $158.32) on shares of Southern Copper in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $159.26.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $167.10 on Friday. The stock has a market cap of $139.42 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.93 and a current ratio of 4.31. The stock’s fifty day moving average is $194.62 and its 200 day moving average is $185.44. Southern Copper has a one year low of $119.25 and a one year high of $223.88.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, October 21st. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.12. The business had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.49 billion. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. During the same quarter in the previous year, the company posted $1.34 earnings per share. Sell-side analysts anticipate that Southern Copper will post 8.01 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC acquired a new stake in Southern Copper in the third quarter valued at approximately $25,000. Bell Investment Advisors Inc acquired a new stake in shares of Southern Copper in the 2nd quarter worth $26,000. Rakuten Securities Inc. purchased a new position in Southern Copper during the 2nd quarter worth $28,000. Pin Oak Investment Advisors Inc. purchased a new position in Southern Copper during the 2nd quarter worth $30,000. Finally, Gen Wealth Partners Inc acquired a new position in Southern Copper during the 3rd quarter valued at about $33,000. 7.94% of the stock is currently owned by institutional investors.

About Southern Copper

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products.

The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.

Southern Copper traces its origins to Southern Peru Copper Corporation, established in 1952, and is part of Grupo México.