Analysts Set Southern Copper Co. (NYSE:SCCO) Price Target at $76.00

Southern Copper Co. (NYSE:SCCO) has been given a consensus recommendation of “Reduce” by the seven research firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $76.00.

Several research analysts have recently weighed in on SCCO shares. The Goldman Sachs Group upped their target price on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. reduced their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price for the company. in a research note on Monday, April 22nd. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and upped their target price for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. Finally, StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hartford Financial Management Inc. acquired a new stake in shares of Southern Copper in the 3rd quarter worth $25,000. Fortis Group Advisors LLC increased its stake in shares of Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 151 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Southern Copper in the 1st quarter worth $27,000. Viking Fund Management LLC acquired a new stake in shares of Southern Copper in the 4th quarter worth $31,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Southern Copper by 164.8% in the 4th 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 last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Up 4.6 %

Shares of NYSE:SCCO opened at $116.94 on Tuesday. Southern Copper has a 12-month low of $64.66 and a 12-month high of $120.37. The company has a market capitalization of $90.41 billion, a PE ratio of 37.24, a PEG ratio of 3.20 and a beta of 1.29. The business has a 50 day moving average of $99.81 and a two-hundred day moving average of $85.62. 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 analyst estimates of $2.37 billion. As a group, analysts forecast that Southern Copper will post 3.95 EPS for the current year.

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.