Southern Copper (NYSE:SCCO) Price Target Raised to $72.00

Southern Copper (NYSE:SCCO) had its target price boosted by research analysts at Scotiabank from $52.00 to $72.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector underperform” rating on the basic materials company’s stock. Scotiabank’s price target points to a potential downside of 17.17% from the company’s previous close.

A number of other brokerages have also weighed in on SCCO. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Southern Copper currently has an average rating of “Hold” and an average target price of $97.31.

Southern Copper Stock Performance

Shares of SCCO stock traded down $4.03 during midday trading on Monday, hitting $86.93. The company had a trading volume of 674,506 shares, compared to its average volume of 1,222,751. The stock has a market cap of $68.28 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The company’s 50 day simple moving average is $93.83 and its 200 day simple moving average is $101.07. Southern Copper has a 52-week low of $84.33 and a 52-week high of $129.79.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. Research analysts anticipate that Southern Copper will post 4.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. M&T Bank Corp raised its holdings in Southern Copper by 0.5% during the 3rd quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock worth $2,367,000 after purchasing an additional 105 shares during the last quarter. Larson Financial Group LLC boosted its position in Southern Copper by 28.0% during the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 114 shares during the last quarter. Cadence Wealth Management LLC grew its holdings in Southern Copper by 4.1% during the 4th quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 116 shares during the period. Tyche Wealth Partners LLC raised its position in shares of Southern Copper by 0.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock worth $1,805,000 after acquiring an additional 122 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its stake in shares of Southern Copper by 0.9% in the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock valued at $1,311,000 after purchasing an additional 122 shares during the period. Institutional investors own 7.94% 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, Ecuador, and Chile. 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, copper, molybdenum, silver, gold, and lead.