Analysts Set Southern Copper Co. (NYSE:SCCO) Target Price at $76.00

Shares of Southern Copper Co. (NYSE:SCCO) have been assigned an average recommendation of “Reduce” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $76.00.

A number of analysts recently commented on SCCO shares. Scotiabank upped their price objective on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 18th. The Goldman Sachs Group boosted their target price on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective on the stock. in a research report on Monday. JPMorgan Chase & Co. reduced their price target on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a report on Thursday, March 21st. Finally, StockNews.com cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th.

Southern Copper Price Performance

Shares of SCCO stock opened at $111.84 on Tuesday. The firm has a market cap of $86.46 billion, a P/E ratio of 35.62, a P/E/G ratio of 3.14 and a beta of 1.29. Southern Copper has a fifty-two week low of $64.66 and a fifty-two week high of $120.37. The business’s 50 day moving average price is $99.14 and its 200-day moving average price is $85.25. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.15). The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. On average, equities research analysts anticipate that Southern Copper will post 3.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCCO. National Bank of Canada FI lifted its holdings in shares of Southern Copper by 298.2% in the 3rd quarter. National Bank of Canada FI now owns 33,032 shares of the basic materials company’s stock valued at $2,443,000 after buying an additional 24,736 shares during the period. AE Wealth Management LLC purchased a new stake in shares of Southern Copper in the third quarter valued at approximately $215,000. Ronald Blue Trust Inc. grew its position in shares of Southern Copper by 43.7% in the third quarter. Ronald Blue Trust Inc. now owns 602 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 183 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Southern Copper by 117.5% in the third quarter. Exchange Traded Concepts LLC now owns 7,442 shares of the basic materials company’s stock valued at $560,000 after purchasing an additional 4,020 shares in the last quarter. Finally, Redwood Wealth Management Group LLC grew its position in Southern Copper by 3.9% in the third quarter. Redwood Wealth Management Group LLC now owns 5,887 shares of the basic materials company’s stock worth $443,000 after acquiring an additional 222 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

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.