Southern Copper Co. (NYSE:SCCO) Receives $90.88 Average PT from Analysts

Shares of Southern Copper Co. (NYSE:SCCO) have earned an average recommendation of “Reduce” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $90.63.

A number of research firms have commented on SCCO. Scotiabank decreased their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday. UBS Group initiated coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target for the company. Morgan Stanley increased their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Finally, Citigroup lifted their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd.

Southern Copper Stock Performance

NYSE:SCCO opened at $111.99 on Tuesday. The firm has a 50-day moving average of $106.18 and a two-hundred day moving average of $110.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. The stock has a market cap of $87.48 billion, a P/E ratio of 37.21, a PEG ratio of 1.22 and a beta of 1.18. Southern Copper has a 1-year low of $68.93 and a 1-year high of $129.79.

Southern Copper (NYSE:SCCO) last issued its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 fiscal year.

Institutional Trading of Southern Copper

Hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc boosted its holdings in Southern Copper by 1.0% in the second 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 in the last quarter. Prudential PLC grew its holdings in Southern Copper by 1.0% during the second quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock valued at $1,149,000 after purchasing an additional 109 shares during the last quarter. Inspire Advisors LLC grew its stake in Southern Copper by 3.9% in the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock valued at $347,000 after buying an additional 113 shares during the last quarter. American Financial Advisors LLC grew its position in shares of Southern Copper by 1.0% in the second quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock valued at $1,262,000 after purchasing an additional 117 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Southern Copper by 0.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock valued at $2,557,000 after buying an additional 118 shares during the last quarter. 7.94% of the stock is 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.