Scotiabank Lowers Southern Copper (NYSE:SCCO) Price Target to $52.00

Southern Copper (NYSE:SCCO) had its price objective cut by investment analysts at Scotiabank from $54.00 to $52.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “sector underperform” rating on the basic materials company’s stock. Scotiabank’s price target points to a potential downside of 54.04% from the stock’s previous close.

SCCO has been the topic of several other reports. Morgan Stanley boosted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Citigroup upped their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, UBS Group initiated coverage on shares of Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 target price on the stock. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued 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 $90.63.

Southern Copper Stock Up 1.5 %

SCCO opened at $113.15 on Tuesday. Southern Copper has a fifty-two week low of $68.93 and a fifty-two week high of $129.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81. The company has a fifty day moving average of $105.94 and a two-hundred day moving average of $110.01. The stock has a market capitalization of $88.39 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 1.22 and a beta of 1.18.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.09. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. On average, research analysts expect that Southern Copper will post 4.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SCCO. Ensign Peak Advisors Inc boosted its stake in Southern Copper by 1.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 108 shares during the period. Prudential PLC increased its holdings in Southern Copper by 1.0% during the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock valued at $1,149,000 after acquiring an additional 109 shares in the last quarter. American Financial Advisors LLC boosted its stake in shares of Southern Copper by 1.0% during the 2nd quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock worth $1,262,000 after purchasing an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Southern Copper by 0.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock worth $2,557,000 after purchasing an additional 118 shares during the last quarter. Finally, Axiom Advisory LLC boosted its position in shares of Southern Copper by 4.0% in the third quarter. Axiom Advisory LLC now owns 3,328 shares of the basic materials company’s stock worth $385,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

About Southern Copper

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.