Southern Copper Corporation (SCCO) to Release Earnings on Wednesday
Southern Copper Corporation (NYSE:SCCO) is scheduled to be posting its Q3 quarterly earnings results after the market closes on Wednesday, October 25th. Analysts expect Southern Copper Corporation to post earnings of $0.47 per share for the quarter.
Southern Copper Corporation (SCCO) opened at 43.13 on Monday. The firm’s 50-day moving average price is $40.82 and its 200-day moving average price is $37.56. The company has a market cap of $33.34 billion, a P/E ratio of 33.91 and a beta of 0.53. Southern Copper Corporation has a 12-month low of $26.52 and a 12-month high of $44.15.
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In other Southern Copper Corporation news, Chairman German Larrea Mota Velasco sold 504,800 shares of Southern Copper Corporation stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $39.51, for a total transaction of $19,944,648.00. Following the sale, the chairman now directly owns 2,972,297 shares of the company’s stock, valued at $117,435,454.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 900,670 shares of company stock worth $35,575,771 over the last ninety days. Company insiders own 0.53% of the company’s stock.
Several equities analysts recently issued reports on the company. Goldman Sachs Group, Inc. (The) assumed coverage on Southern Copper Corporation in a research note on Monday. They set a “neutral” rating on the stock. BidaskClub raised Southern Copper Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 17th. Barclays PLC lifted their price objective on Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, August 9th. HSBC Holdings plc downgraded Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a report on Wednesday, August 16th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $39.00 price objective on shares of Southern Copper Corporation in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $35.33.
Southern Copper Corporation Company Profile
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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