Analysts Set Southern Copper Co. (NYSE:SCCO) Target Price at $94.81

Shares of Southern Copper Co. (NYSE:SCCO - Get Free Report) have received an average recommendation of "Reduce" from the nine analysts that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $94.81.

SCCO has been the subject of a number of recent analyst reports. Scotiabank decreased their target price on Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 target price for the company in a research report on Monday, December 2nd. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their price target for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, Citigroup raised their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a report on Wednesday, October 2nd.

Southern Copper Trading Up 0.9 %

Shares of SCCO stock traded up $0.85 during mid-day trading on Thursday, reaching $97.20. The stock had a trading volume of 708,777 shares, compared to its average volume of 931,719. The firm has a market capitalization of $76.36 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The stock's 50-day moving average price is $97.49 and its two-hundred day moving average price is $103.80. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper has a 52-week low of $77.42 and a 52-week high of $129.79.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The basic materials company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.94 billion. Southern Copper had a return on equity of 37.11% and a net margin of 27.67%. Equities analysts expect that Southern Copper will post 4.4 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 SCCO. JPMorgan Chase & Co. increased its position in shares of Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock valued at $162,283,000 after acquiring an additional 599,610 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Southern Copper by 115,910.7% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company's stock valued at $38,915,000 after purchasing an additional 336,141 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock worth $342,796,000 after purchasing an additional 283,562 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Southern Copper by 11,510.5% in the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company's stock worth $21,944,000 after purchasing an additional 188,082 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Southern Copper by 1,601.3% during the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company's stock valued at $22,275,000 after purchasing an additional 181,252 shares in the last quarter. Hedge funds and other institutional investors 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.