Southern Copper Corp (NYSE:SCCO) Director Sanchez Mejorada Enri Castillo sold 12,825 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $36.89, for a total value of $473,114.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
NYSE:SCCO traded up $0.06 during trading hours on Tuesday, reaching $41.68. 592,851 shares of the company’s stock were exchanged, compared to its average volume of 597,113. The company has a market capitalization of $32.12 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company has a quick ratio of 2.18, a current ratio of 2.92 and a debt-to-equity ratio of 0.95. The business’s 50-day simple moving average is $40.36 and its two-hundred day simple moving average is $36.32. Southern Copper Corp has a 12 month low of $29.39 and a 12 month high of $43.38.
Southern Copper (NYSE:SCCO) last issued its earnings results on Friday, October 25th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. Southern Copper had a return on equity of 21.86% and a net margin of 20.68%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.83 billion. As a group, sell-side analysts anticipate that Southern Copper Corp will post 1.97 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of SCCO. Price T Rowe Associates Inc. MD boosted its holdings in shares of Southern Copper by 15.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,825,434 shares of the basic materials company’s stock worth $226,318,000 after buying an additional 774,578 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Southern Copper in the 2nd quarter valued at approximately $18,171,000. Man Group plc lifted its position in shares of Southern Copper by 1,569.4% in the 3rd quarter. Man Group plc now owns 212,961 shares of the basic materials company’s stock valued at $7,268,000 after acquiring an additional 200,204 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Southern Copper by 2,055.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 175,135 shares of the basic materials company’s stock worth $5,977,000 after purchasing an additional 167,010 shares during the period. Finally, Invesco Ltd. boosted its stake in Southern Copper by 77.9% in the 2nd quarter. Invesco Ltd. now owns 364,774 shares of the basic materials company’s stock worth $14,171,000 after purchasing an additional 159,680 shares during the period. 6.25% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of Southern Copper from a “hold” rating to a “sell” rating and set a $36.00 price target on the stock. in a research report on Wednesday, October 16th. Itau Unibanco lowered shares of Southern Copper to a “hold” rating and set a $45.00 price objective on the stock. in a research note on Tuesday, December 17th. ValuEngine cut Southern Copper from a “hold” rating to a “sell” rating in a report on Monday, November 25th. UBS Group decreased their price target on Southern Copper from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal” rating and set a $36.00 price target on the stock in a research report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.80.
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 and lead.