UBS Group Issues Pessimistic Forecast for Southern Copper (NYSE:SCCO) Stock Price

Southern Copper (NYSE:SCCO) had its price objective reduced by UBS Group from $120.00 to $100.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target suggests a potential upside of 14.92% from the company’s previous close.

Other analysts also recently issued reports about the company. Scotiabank upped their price objective on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. decreased their price target on Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a report on Monday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.58.

Southern Copper Stock Performance

NYSE:SCCO traded down $0.65 during mid-day trading on Tuesday, reaching $87.02. 397,887 shares of the stock were exchanged, compared to its average volume of 1,221,935. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper has a 1 year low of $74.84 and a 1 year high of $127.34. The company has a 50 day simple moving average of $91.94 and a 200-day simple moving average of $98.79. The stock has a market capitalization of $69.28 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.90 and a beta of 1.04.

Southern Copper (NYSE:SCCO) last announced its 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%. Analysts anticipate that Southern Copper will post 4.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Southern Copper

Hedge funds and other institutional investors have recently bought and sold shares of the business. Morse Asset Management Inc purchased a new stake in shares of Southern Copper during the 3rd quarter worth approximately $1,397,000. Geode Capital Management LLC grew its holdings in Southern Copper by 3.4% in the third quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company’s stock valued at $70,437,000 after purchasing an additional 20,204 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in shares of Southern Copper during the 3rd quarter worth $202,000. Sanctuary Advisors LLC boosted its position in shares of Southern Copper by 488.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,787 shares of the basic materials company’s stock worth $3,561,000 after buying an additional 25,559 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in Southern Copper by 30.8% in the 3rd quarter. Tidal Investments LLC now owns 71,376 shares of the basic materials company’s stock valued at $8,256,000 after acquiring an additional 16,805 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.