Southern Copper (NYSE:SCCO) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Southern Copper to “Hold” from “Buy,” adding to mixed analyst sentiment. MarketBeat reports a consensus “Reduce” rating and an average price target of $148.60, below the stock’s $182.79 opening price.
• Southern Copper reported quarterly EPS of $2.01, exceeding the $1.95 consensus estimate, while revenue reached $4.29 billion and rose 40.6% year over year but fell short of estimates.
• The company is scheduled for a 1.012-for-1 stock split before the market opens on August 11, with shares issued after the August 10 close; insiders have sold 504 shares worth approximately $92,008 over the past 90 days.

Southern Copper (NYSE:SCCO - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on the stock. CICC Research lowered shares of Southern Copper to a "market perform" rating in a report on Sunday, July 26th. Scotiabank reaffirmed an "underperform" rating and set a $140.00 price target (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. Zacks Research upgraded shares of Southern Copper from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 9th. The Goldman Sachs Group upgraded shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price objective for the company in a research report on Friday, April 10th. Finally, Barclays set a $166.00 price objective on shares of Southern Copper and gave the stock an "underweight" rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, Southern Copper presently has a consensus rating of "Reduce" and an average target price of $148.60.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $182.79 on Friday. The firm has a market cap of $150.99 billion, a PE ratio of 26.72, a PEG ratio of 1.59 and a beta of 1.11. The stock has a 50 day moving average of $181.30 and a 200 day moving average of $184.12. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. Southern Copper has a 12 month low of $89.87 and a 12 month high of $223.88.

Southern Copper's stock is scheduled to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The company's revenue was up 40.6% on a year-over-year basis. On average, research analysts expect that Southern Copper will post 7.63 EPS for the current fiscal year.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director owned 1,807 shares of the company's stock, valued at approximately $321,320.74. The trade was a 9.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 504 shares of company stock worth $92,008. Insiders own 0.07% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SCCO. SHP Wealth Management purchased a new stake in shares of Southern Copper in the fourth quarter valued at $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Southern Copper during the 4th quarter worth about $29,000. Virtus Advisers LLC purchased a new position in shares of Southern Copper during the 4th quarter worth about $29,000. Godfrey Financial Associates Inc. bought a new position in Southern Copper during the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc grew its holdings in Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Company Profile

Southern Copper Corporation NYSE: SCCO is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper's operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

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