Southern Copper (NYSE:SCCO) PT Lowered to $42.00

Southern Copper (NYSE:SCCO) had its target price decreased by equities researchers at UBS Group from $45.00 to $42.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target would suggest a potential upside of 27.00% from the company’s current price.

SCCO has been the subject of several other research reports. ValuEngine upgraded Southern Copper from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. JPMorgan Chase & Co. set a $32.00 price target on Southern Copper and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Macquarie initiated coverage on Southern Copper in a research report on Wednesday, July 10th. They issued an “underperform” rating and a $35.00 price target for the company. Bank of America reiterated a “buy” rating and issued a $46.00 price target on shares of Southern Copper in a research report on Thursday, August 15th. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal” rating and set a $36.00 price target for the company in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Southern Copper has an average rating of “Hold” and a consensus price target of $51.90.

Shares of SCCO stock traded up $0.64 during trading hours on Thursday, hitting $33.07. The stock had a trading volume of 4,202 shares, compared to its average volume of 671,022. Southern Copper has a one year low of $29.01 and a one year high of $43.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.24 and a quick ratio of 1.46. The stock’s 50-day moving average price is $32.84 and its two-hundred day moving average price is $35.87. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.12 and a beta of 0.91.



Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Southern Copper had a return on equity of 21.75% and a net margin of 20.79%. As a group, equities research analysts predict that Southern Copper will post 2.09 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the business. Coastal Investment Advisors Inc. raised its position in shares of Southern Copper by 63.8% in the second quarter. Coastal Investment Advisors Inc. now owns 1,310 shares of the basic materials company’s stock valued at $52,000 after buying an additional 510 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Southern Copper by 7.6% during the second quarter. Crossmark Global Holdings Inc. now owns 8,185 shares of the basic materials company’s stock worth $318,000 after purchasing an additional 576 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Southern Copper by 5.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,280 shares of the basic materials company’s stock worth $487,000 after purchasing an additional 623 shares during the last quarter. Prudential PLC increased its position in Southern Copper by 10.9% during the second quarter. Prudential PLC now owns 7,100 shares of the basic materials company’s stock worth $276,000 after purchasing an additional 700 shares during the last quarter. Finally, PM CAPITAL Ltd increased its position in Southern Copper by 0.5% during the third quarter. PM CAPITAL Ltd now owns 148,875 shares of the basic materials company’s stock worth $5,081,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 6.56% of the company’s stock.

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 and lead.

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Analyst Recommendations for Southern Copper (NYSE:SCCO)

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