The share price of Southern Copper Corporation (NYSE:SCCO) fell to $45.36 per share on Wednesday from $47.32. While Southern Copper Corporation has underperformed by -4.14%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SCCO fell by -19.65%, with highs and lows ranging from $79.32 to $44.31, whereas the simple moving average fell by -24.64% in the last 200 days.
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On September 16, 2022, Morgan Stanley Upgraded Southern Copper Corporation (NYSE: SCCO) to Equal-Weight. A report published by Deutsche Bank on September 14, 2022, Initiated its previous ‘Hold’ rating for SCCO. Goldman also rated SCCO shares as ‘Neutral’, setting a target price of $65 on the company’s shares in an initiating report dated August 05, 2022. Citigroup July 13, 2022d the rating to Sell on July 13, 2022, and set its price target from $70 to $40. Wolfe Research July 07, 2022d its ‘Peer Perform’ rating to ‘Underperform’ for SCCO, as published in its report on July 07, 2022. Morgan Stanley’s report from March 24, 2022 suggests a price prediction of $63 for SCCO shares, giving the stock a ‘Underweight’ rating. Morgan Stanley also rated the stock as ‘Equal-Weight’.
Analysis of Southern Copper Corporation (SCCO)
A return on investment can be expected regardless of SCCO’s performance over the next quarter with the dividend set at $3.00 per share. Further, the quarter-over-quarter decrease in sales is -20.40%, showing a negative trend in the upcoming months.
To gain a thorough understanding of Southern Copper Corporation’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 36.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and SCCO is recording an average volume of 1.53M. On a monthly basis, the volatility of the stock is set at 3.18%, whereas on a weekly basis, it is put at 3.50%, with a loss of -3.20% over the past seven days. Furthermore, long-term investors anticipate a median target price of $51.04, showing growth from the present price of $45.36, which can serve as yet another indication of whether SCCO is worth investing in or should be passed over.
How Do You Analyze Southern Copper Corporation Shares?
A leading company in the Copper sector, Southern Copper Corporation (SCCO) is based in the USA. When comparing Southern Copper Corporation shares with other companies under Basic Materials, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 12.02, there is a growth in quarterly earnings of -53.70%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 7.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SCCO shares?
The recent increase in stakes in SCCO appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in SCCO has increased by 5.90% in the first quarter. The company now owns 5,311,894 shares of the stock, with a value of $250.03 million, following the purchase of 295,944 additional shares during the last quarter. T. Rowe Price Associates, Inc. made another increased to its shares in SCCO during the first quarter, upping its stake by 200.60%. During the last quarter, the company dropped down 2,789,376 additional shares for a total stake of worth $196.75 million, bringing number of shares owned by the company to 4,179,899.
During the first quarter, Fisher Asset Management LLC subtracted a -211,320 position in SCCO. FIL Investment Advisors sold an additional 41456.0 shares in the last quarter, decreasing its holdings by -1.55%, now holding 2.63 million shares worth $123.86 million. At the end of the first quarter, SSgA Funds Management, Inc. decreased its SCCO holdings by -8.83% and now holds 2.4 million SCCO shares valued at $112.85 million with the lessened -0.23 million shares during the period. SCCO shares are owned by institutional investors to the tune of 7.50% at present.