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

Southern Copper Co. (NYSE:SCCO) has earned an average recommendation of “Reduce” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $76.00.

A number of brokerages recently weighed in on SCCO. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and boosted their price target for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. HSBC cut shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a research report on Monday. CICC Research began coverage on shares of Southern Copper in a research report on Wednesday. They issued an “outperform” rating for the company. StockNews.com lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research note on Thursday, March 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SCCO. Hartford Financial Management Inc. purchased a new stake in shares of Southern Copper in the third quarter valued at about $25,000. Fortis Group Advisors LLC grew its holdings in Southern Copper by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares in the last quarter. Riverview Trust Co bought a new position in Southern Copper during the 1st quarter valued at $27,000. Viking Fund Management LLC bought a new position in shares of Southern Copper in the 4th quarter worth about $31,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Southern Copper by 164.8% in the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

Shares of SCCO stock opened at $111.84 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper has a 52 week low of $64.66 and a 52 week high of $120.37. The stock has a market capitalization of $86.46 billion, a PE ratio of 35.62, a P/E/G ratio of 3.14 and a beta of 1.29. The firm has a 50 day moving average of $99.14 and a two-hundred day moving average of $85.25.

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

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.