Southern Copper Corp (NYSE:SCCO) EVP Quintanilla Daniel Muniz sold 1,600 shares of the company’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $51.20, for a total value of $81,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Southern Copper traded down $1.90, reaching $48.37, during mid-day trading on Friday, Marketbeat reports. 53,466 shares of the company’s stock were exchanged, compared to its average volume of 773,041. The company has a market capitalization of $39.05 billion, a P/E ratio of 32.80 and a beta of 0.49. The company has a current ratio of 2.81, a quick ratio of 1.92 and a debt-to-equity ratio of 0.93. Southern Copper Corp has a 12-month low of $33.63 and a 12-month high of $58.09.
Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, May 2nd. The basic materials company reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.84 billion. Southern Copper had a return on equity of 13.92% and a net margin of 12.80%. research analysts predict that Southern Copper Corp will post 2.53 earnings per share for the current fiscal year.
A number of analysts have recently commented on SCCO shares. B. Riley upped their target price on Southern Copper from $47.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, March 6th. JPMorgan Chase & Co. downgraded Southern Copper from a “neutral” rating to an “underweight” rating and set a $45.00 target price on the stock. in a research note on Friday, April 13th. Berenberg Bank restated a “sell” rating and issued a $39.00 target price on shares of Southern Copper in a research note on Saturday, June 2nd. Finally, ValuEngine upgraded Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, June 6th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $45.65.
A number of hedge funds have recently modified their holdings of SCCO. Gables Capital Management Inc. purchased a new position in Southern Copper during the first quarter worth approximately $185,000. Comerica Bank purchased a new position in shares of Southern Copper in the fourth quarter valued at approximately $205,000. Envestnet Asset Management Inc. lifted its position in shares of Southern Copper by 42.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,371 shares of the basic materials company’s stock valued at $207,000 after acquiring an additional 1,307 shares in the last quarter. Wetherby Asset Management Inc. purchased a new position in shares of Southern Copper in the fourth quarter valued at approximately $208,000. Finally, Commerce Bank purchased a new position in shares of Southern Copper in the first quarter valued at approximately $211,000. Institutional investors own 7.30% 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, 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.
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