Southern Copper (NYSE:SCCO) Now Covered by Analysts at CICC Research

CICC Research started coverage on shares of Southern Copper (NYSE:SCCO) in a research report issued on Wednesday, Benzinga reports. The brokerage set an “outperform” rating on the basic materials company’s stock.

Several other research analysts also recently weighed in on the company. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price on the stock. in a research note on Monday. Scotiabank upped their target price on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. reduced their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and upped their target price for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group upped their target price on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Southern Copper presently has a consensus rating of “Hold” and a consensus target price of $76.00.

Southern Copper Trading Up 2.4 %

Shares of NYSE:SCCO opened at $111.84 on Wednesday. Southern Copper has a 12-month low of $64.66 and a 12-month high of $120.37. The business’s fifty day simple moving average is $99.14 and its 200-day simple moving average is $85.25. The company 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 company has a current ratio of 3.19, a quick ratio of 2.46 and a debt-to-equity ratio of 0.84.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Southern Copper in the first quarter valued at about $27,000. Fortis Group Advisors LLC increased its holdings in shares of Southern Copper by 100.0% in the fourth 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 during the period. Hartford Financial Management Inc. acquired a new position in shares of Southern Copper in the third quarter valued at about $25,000. Viking Fund Management LLC acquired a new position in shares of Southern Copper in the fourth quarter valued at about $31,000. Finally, Venturi Wealth Management LLC grew its holdings in Southern Copper by 164.8% during the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 300 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

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.