Scotiabank Trims Southern Copper (NYSE:SCCO) Target Price to $52.00

Southern Copper (NYSE:SCCO) had its price target cut by Scotiabank from $54.00 to $52.00 in a research note released on Tuesday, Benzinga reports. They currently have a sector underperform rating on the basic materials company’s stock.

SCCO has been the topic of a number of other research reports. UBS Group assumed coverage on Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. Morgan Stanley upped their target price on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Finally, Citigroup upped their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $90.63.

Southern Copper Stock Down 1.0 %

Shares of NYSE:SCCO opened at $111.99 on Tuesday. Southern Copper has a 1 year low of $68.93 and a 1 year high of $129.79. The company has a market cap of $87.48 billion, a PE ratio of 37.21, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. The stock’s 50-day moving average is $106.18 and its 200 day moving average is $110.02.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. Sell-side analysts anticipate that Southern Copper will post 4.5 EPS for the current year.

Institutional Trading of Southern Copper

A number of hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc boosted its position in shares of Southern Copper by 1.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 108 shares in the last quarter. Prudential PLC boosted its position in shares of Southern Copper by 1.0% in the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after purchasing an additional 109 shares in the last quarter. Inspire Advisors LLC boosted its position in shares of Southern Copper by 3.9% in the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 113 shares in the last quarter. American Financial Advisors LLC boosted its position in shares of Southern Copper by 1.0% in the 2nd quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock worth $1,262,000 after purchasing an additional 117 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Southern Copper by 0.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock worth $2,557,000 after purchasing an additional 118 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

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.