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This Copper Stock Just Received a Rating Upgrade by Morgan Stanley | The Mesh Report

This Copper Stock Just Received a Rating Upgrade by Morgan Stanley

The Gold Enthusiast December 9, 2021 Comments Off on This Copper Stock Just Received a Rating Upgrade by Morgan Stanley

This copper stock was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, The Fly reports.

SCCO has been the subject of several other research reports. Wolfe Research initiated coverage on Southern Copper in a report on Tuesday, November 16th. They issued a “market perform” rating and a $62.00 price target for the company. Zacks Investment Research lowered Southern Copper from a “hold” rating to a “strong sell” rating and set a $51.00 price objective on the stock. in a research note on Tuesday, September 28th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.92.

Southern Copper stock opened at $60.31 on Thursday. The company has a current ratio of 3.29, a quick ratio of 2.78 and a debt-to-equity ratio of 0.80. The stock has a market cap of $46.62 billion, a PE ratio of 14.78, a P/E/G ratio of 0.83 and a beta of 1.13. The stock has a 50-day moving average price of $60.22 and a 200 day moving average price of $62.46. Southern Copper has a 52 week low of $54.92 and a 52 week high of $83.29.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Sunday, October 31st. The basic materials company reported $1.12 EPS for the quarter, meeting the consensus estimate of $1.12. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Southern Copper had a return on equity of 40.73% and a net margin of 30.15%. On average, equities analysts predict that Southern Copper will post 4.4 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in SCCO. Marathon Asset Mgmt Ltd acquired a new position in shares of Southern Copper in the 3rd quarter valued at approximately $99,698,000. Neuberger Berman Group LLC increased its holdings in shares of Southern Copper by 43.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,556,261 shares of the basic materials company’s stock valued at $142,523,000 after acquiring an additional 773,907 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Southern Copper by 1,235.2% in the 3rd quarter. Two Sigma Investments LP now owns 762,835 shares of the basic materials company’s stock valued at $42,826,000 after acquiring an additional 705,704 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Southern Copper in the 2nd quarter valued at approximately $43,908,000. Finally, Two Sigma Advisers LP increased its holdings in shares of Southern Copper by 1,845.2% in the 3rd quarter. Two Sigma Advisers LP now owns 681,958 shares of the basic materials company’s stock valued at $38,285,000 after acquiring an additional 646,900 shares during the last quarter. 7.25% of the stock is currently owned by institutional investors.

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