Southern Copper (NYSE:SCCO) Upgraded by Itau BBA Securities to Market Perform Rating

Southern Copper (NYSE:SCCO) was upgraded by Itau BBA Securities from an “underperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Marketbeat reports.

SCCO has been the topic of several other reports. Scotiabank increased their price objective on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Hsbc Global Res raised Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price target on Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, UBS Group dropped their price objective on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $91.50.

Southern Copper Trading Down 0.2%

Shares of Southern Copper stock opened at $95.87 on Wednesday. The firm has a market capitalization of $76.33 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.90 and a beta of 1.01. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper has a fifty-two week low of $74.11 and a fifty-two week high of $118.64. The stock has a 50 day moving average of $90.29 and a 200 day moving average of $93.32.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, research analysts predict that Southern Copper will post 4.66 earnings per share for the current year.

Hedge Funds Weigh In On Southern Copper

Hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC increased its position in Southern Copper by 22.8% during the 1st quarter. Inspire Investing LLC now owns 3,808 shares of the basic materials company’s stock worth $356,000 after purchasing an additional 708 shares in the last quarter. Strs Ohio purchased a new position in Southern Copper in the first quarter valued at approximately $15,382,000. Geneos Wealth Management Inc. lifted its holdings in shares of Southern Copper by 8.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,664 shares of the basic materials company’s stock valued at $342,000 after acquiring an additional 287 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Southern Copper by 21.5% during the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after purchasing an additional 1,052 shares in the last quarter. Finally, Flaharty Asset Management LLC boosted its holdings in Southern Copper by 48.9% in the 1st quarter. Flaharty Asset Management LLC now owns 4,019 shares of the basic materials company’s stock worth $376,000 after acquiring an additional 1,319 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

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.