Southern Copper Corporation (NYSE:SCCO) does about 1.50M shares in volume on a normal day but saw 1524272 shares change hands in Monday trading. The company now has a market cap of 58.24B USD. Its current market price is $74.23, marking a decrease of -1.09% compared to the previous close of $75.05. The 52 week high reached by this stock is $79.32 whilst the lowest price level in 52 weeks is $42.42. The script in recent trading has seen the stock touch a high of $74.87 and a low of $72.6104.
Southern Copper Corporation (SCCO) has a 20-day trading average at $68.39 and the current price is -6.41% off the 52-week high compared with 74.99% distance from its 52-week low. The 50-day simple moving average of the closing price is $63.18 and its 200-day simple moving average is $55.77. If we look at the stock’s price movements over the week, volatility stands at 2.72%, which decreases to 2.67% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 69.28 to suggest the stock is neutral.
19 analysts observing the Southern Copper Corporation (SCCO) stock have set the 12-month price targets for the company’s shares at between $43.00 and $72.50. The consensus objective for the share price is $54.64, suggesting that the stock has a potential downside of -35.85% over the period. The median price target is -41.39% away from the current levels at $52.50.
FactSet Research has provided data showing that 19 brokerages have issued ratings for the stock. 7 analysts have rated it as a sell, while 0 advise that it is a overweight. 3 analysts have rated it as a buy and 7 have advised that investors hold their positions. The consensus recommendation rating is Underweight and Wall Street’s advice is for investors to Hold the stock.
Deutsche Bank downgraded the stock to “Sell” from Hold on November 23, 2022 at a price target of $45. Morgan Stanley upgraded its price target at $54.
The current price level is 9.54%, 18.25%, and 33.10% away from its SMA20, SMA50, and SMA200 respectively, with the SCCO price moving above the 50-day SMA on January 23. Southern Copper Corporation (SCCO) stock is down -3.67% over the week and 22.88% over the past month. Its price is 22.92% year-to-date and 9.15% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of $0.56 below consensus estimates by -$0.43. SCCO’s earnings per share are forecast to shrink by -28.50% this year and 9.90% over next year. Expected sales for next quarter are $2.76 billion, which analysts say will come at $10.27 billion for the current fiscal year and next year at $10.67 billion. In addition, estimates put the company’s current quarterly revenue at an average of $2.26 billion.
To reach the target analysts have set, the stock logically needs to shrink -35.85 percent from here.
Outstanding shares total 773.10M with insiders holding 88.98% of the shares and institutional holders owning 7.40% of the company’s common stock. The company has a return on investment of 25.60% and return on equity of 32.60%. The price to earnings ratio (P/E ratio) amounts to 22.34 while the forward price to earnings ratio is 22.49. The beta has a value of 1.16. Price to book ratio is 7.58 and price to sales ratio is 5.79.
Global X Copper Miners ETF isn’t the only investment manager who changed stakes and is followed by Stichting Pensioenfonds ABP, which sold off 75447.0 shares to end up with 1,142,544 shares worth $69.0 million. T Rowe Price All-Cap Opportuniti raise their holdings by 51.42% in the company over the course of the most recent quarter. It now holds a 0.13% position in Southern Copper Corporation thanks to 0.99 million shares amounting to $59.79 million.