Deutsche Bank Aktiengesellschaft Downgrades Southern Copper (NYSE:SCCO) to Sell

Southern Copper (NYSE:SCCOGet Rating) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $45.00 target price on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential downside of 24.18% from the company’s current price.

Other analysts also recently issued reports about the company. Morgan Stanley raised Southern Copper from an “equal weight” rating to an “overweight” rating and set a $54.00 price objective for the company in a research note on Tuesday, November 8th. StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a research note on Friday, November 11th. The Goldman Sachs Group assumed coverage on Southern Copper in a research note on Friday, August 5th. They set a “neutral” rating and a $65.00 price objective for the company. Finally, Barclays reduced their price objective on Southern Copper to $50.00 in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.80.

Southern Copper Trading Down 0.2 %

NYSE:SCCO opened at $59.35 on Wednesday. The stock has a 50-day simple moving average of $49.92 and a 200-day simple moving average of $51.45. The stock has a market cap of $45.88 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.40 and a beta of 1.07. Southern Copper has a 1 year low of $42.42 and a 1 year high of $79.32. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.63 and a current ratio of 3.34.

Institutional Investors Weigh In On Southern Copper

A number of institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors grew its holdings in shares of Southern Copper by 4.6% in the 1st quarter. Captrust Financial Advisors now owns 4,488 shares of the basic materials company’s stock worth $341,000 after acquiring an additional 196 shares during the period. American Research & Management Co. grew its holdings in shares of Southern Copper by 42.3% in the 3rd quarter. American Research & Management Co. now owns 740 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 220 shares during the period. Laffer Tengler Investments grew its holdings in shares of Southern Copper by 6.9% in the 3rd quarter. Laffer Tengler Investments now owns 3,429 shares of the basic materials company’s stock worth $154,000 after acquiring an additional 222 shares during the period. Truist Financial Corp grew its holdings in shares of Southern Copper by 4.7% in the 3rd quarter. Truist Financial Corp now owns 5,430 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 242 shares during the period. Finally, Advisory Services Network LLC grew its holdings in shares of Southern Copper by 5.0% in the 1st quarter. Advisory Services Network LLC now owns 5,144 shares of the basic materials company’s stock worth $390,000 after acquiring an additional 243 shares during the period. Institutional investors and hedge funds own 7.15% of the company’s stock.

Southern Copper Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for Southern Copper (NYSE:SCCO)

Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.