Southern Copper (NYSE:SCCO) Given New $131.50 Price Target at JPMorgan Chase & Co.

Southern Copper (NYSE:SCCO) had its target price raised by analysts at JPMorgan Chase & Co. from $127.00 to $131.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 33.84% from the stock’s previous close.

A number of other research firms have also recently weighed in on SCCO. UBS Group lifted their price objective on Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research report on Thursday, May 21st. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a research note on Friday, April 10th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and upped their price target for the company from $162.00 to $175.00 in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $145.94.

Southern Copper Stock Performance

Shares of SCCO stock traded up $4.24 during mid-day trading on Wednesday, reaching $198.77. 226,306 shares of the company’s stock traded hands, compared to its average volume of 1,800,449. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The firm has a market capitalization of $162.81 billion, a PE ratio of 32.91, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. Southern Copper has a 12 month low of $88.73 and a 12 month high of $223.88. The firm has a 50 day moving average price of $184.01 and a two-hundred day moving average price of $176.46.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $3.96 billion. On average, research analysts forecast that Southern Copper will post 7.25 EPS for the current year.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 404 shares of company stock valued at $74,108 over the last quarter. Corporate insiders own 0.07% of the company’s stock.

Institutional Trading of Southern Copper

Several institutional investors have recently added to or reduced their stakes in SCCO. SHP Wealth Management bought a new position in shares of Southern Copper during the fourth quarter valued at approximately $25,000. Lloyd Advisory Services LLC. bought a new stake in shares of Southern Copper during the 4th quarter worth approximately $29,000. Virtus Advisers LLC purchased a new position in Southern Copper during the 4th quarter valued at $29,000. Caitlin John LLC bought a new position in Southern Copper in the 3rd quarter valued at $30,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in Southern Copper in the fourth quarter worth $30,000. Institutional investors own 7.94% of the company’s stock.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.