Southern Copper (NYSE:SCCO - Get Free Report) had its target price upped by analysts at Scotiabank from $52.00 to $72.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "sector underperform" rating on the basic materials company's stock. Scotiabank's price objective suggests a potential downside of 22.12% from the stock's current price.
Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. upgraded Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 target price for the company in a research note on Monday, December 2nd. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and lowered their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $97.31.
Read Our Latest Research Report on SCCO
Southern Copper Stock Performance
Shares of SCCO stock traded up $2.11 on Monday, hitting $92.45. 2,026,108 shares of the stock traded hands, compared to its average volume of 1,261,196. The company has a market capitalization of $72.62 billion, a PE ratio of 21.40, a PEG ratio of 1.90 and a beta of 1.12. The company's fifty day moving average is $93.71 and its 200 day moving average is $100.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper has a 1-year low of $84.33 and a 1-year high of $129.79.
Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly 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 return on equity of 40.27% and a net margin of 29.53%. On average, equities research analysts predict that Southern Copper will post 4.66 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Southern Copper
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCCO. Amalgamated Bank raised its stake in shares of Southern Copper by 30.8% in the 3rd quarter. Amalgamated Bank now owns 7,620 shares of the basic materials company's stock worth $881,000 after buying an additional 1,796 shares in the last quarter. Principal Financial Group Inc. raised its position in Southern Copper by 33.7% in the third quarter. Principal Financial Group Inc. now owns 9,693 shares of the basic materials company's stock worth $1,121,000 after acquiring an additional 2,442 shares in the last quarter. Covestor Ltd lifted its holdings in Southern Copper by 209.4% in the 3rd quarter. Covestor Ltd now owns 826 shares of the basic materials company's stock valued at $96,000 after acquiring an additional 559 shares during the last quarter. United Capital Management of KS Inc. bought a new position in shares of Southern Copper during the 3rd quarter valued at about $217,000. Finally, Laffer Tengler Investments Inc. grew its stake in shares of Southern Copper by 8.0% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 3,759 shares of the basic materials company's stock worth $435,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 7.94% of the company's stock.
Southern Copper Company Profile
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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.
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