Southern Copper (NYSE:SCCO) Downgraded by HSBC to “Reduce”

HSBC cut shares of Southern Copper (NYSE:SCCO) from a hold rating to a reduce rating in a research note published on Monday, MarketBeat.com reports. The firm currently has $80.00 price target on the basic materials company’s stock.

A number of other research firms have also recently weighed in on SCCO. Scotiabank upped their price target on shares of Southern Copper from $53.00 to $55.00 and gave the stock a sector underperform rating in a research note on Thursday, April 18th. Jefferies Financial Group upgraded shares of Southern Copper from a hold rating to a buy rating and lifted their price target for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. StockNews.com lowered Southern Copper from a buy rating to a hold rating in a research note on Monday, February 5th. JPMorgan Chase & Co. lowered their price objective on shares of Southern Copper from $63.50 to $61.00 and set an underweight rating on the stock in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group upped their price target on shares of Southern Copper from $61.00 to $82.00 and gave the company a sell rating in a report on Friday, March 22nd. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Reduce and an average price target of $76.00.

Southern Copper Trading Down 1.6 %

Shares of Southern Copper stock opened at $111.59 on Monday. The firm has a market cap of $86.27 billion, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 3.25 and a beta of 1.29. Southern Copper has a 52-week low of $64.66 and a 52-week high of $120.37. The company’s 50-day simple moving average is $97.35 and its 200-day simple moving average is $84.65. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, equities research analysts anticipate that Southern Copper will post 3.95 earnings per share for the current year.

Southern Copper Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 annualized dividend and a yield of 2.87%. Southern Copper’s payout ratio is currently 101.91%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SCCO. Nilsine Partners LLC grew its position in shares of Southern Copper by 1.9% in the first quarter. Nilsine Partners LLC now owns 5,719 shares of the basic materials company’s stock valued at $609,000 after purchasing an additional 109 shares during the period. Wahed Invest LLC boosted its stake in Southern Copper by 9.0% in the 4th quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock worth $125,000 after buying an additional 120 shares during the last quarter. Janiczek Wealth Management LLC grew its holdings in Southern Copper by 11.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock valued at $106,000 after buying an additional 127 shares during the period. CWM LLC increased its stake in shares of Southern Copper by 3.3% during the 4th quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 137 shares during the last quarter. Finally, First National Trust Co increased its stake in shares of Southern Copper by 0.4% during the 4th quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock valued at $3,196,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

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.