Southern Copper (SCCO) Hits New 12-Month Low at $38.45

Southern Copper Corp (NYSE:SCCO)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $38.45 and last traded at $38.46, with a volume of 58705 shares trading hands. The stock had previously closed at $40.00.

Several equities analysts have commented on the company. Scotiabank set a $40.00 target price on Southern Copper and gave the company a “sell” rating in a research report on Monday, August 6th. ValuEngine downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. B. Riley dropped their target price on Southern Copper from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, September 19th. Citigroup upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 target price for the company in a research report on Monday, October 8th. Finally, Santander downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $45.94.

The company has a quick ratio of 2.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.91. The stock has a market cap of $30.92 billion, a P/E ratio of 25.97 and a beta of 0.54.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.11). Southern Copper had a return on equity of 15.48% and a net margin of 13.78%. The company had revenue of $1.84 billion for the quarter. As a group, equities analysts expect that Southern Copper Corp will post 2.32 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Southern Copper by 19.0% during the second quarter. Acadian Asset Management LLC now owns 3,509,549 shares of the basic materials company’s stock worth $164,493,000 after acquiring an additional 560,632 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Southern Copper by 27,321.9% during the second quarter. Fisher Asset Management LLC now owns 1,095,229 shares of the basic materials company’s stock worth $51,333,000 after acquiring an additional 1,091,235 shares during the last quarter. Northern Trust Corp raised its position in shares of Southern Copper by 0.8% during the second quarter. Northern Trust Corp now owns 1,039,201 shares of the basic materials company’s stock worth $48,707,000 after acquiring an additional 8,354 shares during the last quarter. Oakmont Corp raised its position in shares of Southern Copper by 259.7% during the second quarter. Oakmont Corp now owns 798,450 shares of the basic materials company’s stock worth $37,423,000 after acquiring an additional 576,450 shares during the last quarter. Finally, Personal Capital Advisors Corp increased its holdings in Southern Copper by 3.7% in the third quarter. Personal Capital Advisors Corp now owns 780,304 shares of the basic materials company’s stock worth $33,662,000 after purchasing an additional 27,841 shares in the last quarter. Institutional investors own 7.50% of the company’s stock.

About Southern Copper (NYSE:SCCO)

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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.

Recommended Story: What are the benefits of buying treasury bonds?

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.


Leave a Reply