Trade Report: The Southern Copper Corp. (SCCO) Downgraded by Zacks Investment Research to “Hold”

The Southern Copper Corp. (SCCO) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Southern Copper Corp. (NYSE:SCCO) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Southern Copper Corporation is a mining metallurgical company, producer of copper and valuable by-products. “

A number of other brokerages have also weighed in on SCCO. HSBC upgraded shares of Southern Copper Corp. from a hold rating to a buy rating and boosted their price objective for the stock from $26.01 to $31.50 in a report on Friday, August 26th. TheStreet lowered shares of Southern Copper Corp. from a buy rating to a hold rating in a report on Tuesday, June 14th. Credit Suisse Group AG lowered shares of Southern Copper Corp. from a neutral rating to an underperform rating and lowered their price objective for the stock from $28.00 to $20.00 in a report on Friday, July 1st. Vetr lowered shares of Southern Copper Corp. from a strong-buy rating to a buy rating and set a $29.80 price target for the company. in a report on Monday, July 4th. Finally, FBR & Co upped their price target on shares of Southern Copper Corp. from $33.00 to $38.00 and gave the company an outperform rating in a report on Monday, August 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $27.83.

Southern Copper Corp. (NYSE:SCCO) traded up 1.30% on Tuesday, hitting $26.52. 135,990 shares of the company’s stock were exchanged. Southern Copper Corp. has a 52-week low of $21.55 and a 52-week high of $31.31. The firm has a 50 day moving average price of $25.99 and a 200-day moving average price of $26.70. The stock has a market cap of $20.52 billion, a P/E ratio of 36.58 and a beta of 0.94.

Southern Copper Corp. (NYSE:SCCO) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. Southern Copper Corp. had a net margin of 11.40% and a return on equity of 10.36%. Analysts predict that Southern Copper Corp. will post $1.07 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in SCCO. Advisor Group Inc. acquired a new stake in Southern Copper Corp. during the second quarter worth $103,000. Checchi Capital Advisers LLC increased its stake in Southern Copper Corp. by 3.0% in the second quarter. Checchi Capital Advisers LLC now owns 4,453 shares of the company’s stock worth $120,000 after buying an additional 128 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Southern Copper Corp. by 3,954.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,204 shares of the company’s stock worth $167,000 after buying an additional 6,051 shares in the last quarter. Van ECK Associates Corp increased its stake in Southern Copper Corp. by 19.9% in the second quarter. Van ECK Associates Corp now owns 6,342 shares of the company’s stock worth $171,000 after buying an additional 1,051 shares in the last quarter. Finally, Glenmede Trust Co. NA acquired a new stake in Southern Copper Corp. during the second quarter worth $177,000. 6.14% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Corp. Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper, molybdenum, zinc and silver. It operates through three segments: Peruvian operations, which include the Toquepala and Cuajone mine complexes and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines; Mexican open-pit operations, which include the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a metals plant and a copper rod plant and support facilities that service both mines, and Mexican underground mining operations, which include over five underground mines that produce zinc, copper, silver and gold, a coal mine that produces coal and coke, and a zinc refinery.

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