Southern Copper (NYSE:SCCO) PT Raised to $100.00

Southern Copper (NYSE:SCCO) had its price target hoisted by Citigroup from $99.44 to $100.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “sell” rating on the basic materials company’s stock. Citigroup’s price objective points to a potential downside of 13.28% from the stock’s current price.

Several other research analysts have also issued reports on SCCO. UBS Group started coverage on shares of Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target on the stock. Morgan Stanley lifted their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Six research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.88.

Southern Copper Trading Down 1.7 %

Southern Copper stock opened at $115.32 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81. The firm has a market cap of $90.08 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. Southern Copper has a 1 year low of $68.93 and a 1 year high of $129.79. The firm’s 50 day moving average price is $103.41 and its two-hundred day moving average price is $109.23.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.09. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. On average, research analysts predict that Southern Copper will post 4.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Southern Copper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Southern Copper by 3.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,478 shares of the basic materials company’s stock valued at $816,000 after buying an additional 288 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of Southern Copper by 4.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 39,038 shares of the basic materials company’s stock valued at $3,360,000 after buying an additional 1,571 shares during the period. TFO Wealth Partners LLC boosted its stake in shares of Southern Copper by 34,680.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,739 shares of the basic materials company’s stock valued at $150,000 after buying an additional 1,734 shares during the period. California State Teachers Retirement System boosted its stake in shares of Southern Copper by 36.5% during the 4th quarter. California State Teachers Retirement System now owns 100,525 shares of the basic materials company’s stock valued at $8,652,000 after buying an additional 26,894 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Southern Copper by 1.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock valued at $87,306,000 after buying an additional 18,883 shares during the period. Institutional investors and hedge funds own 7.94% 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, copper, molybdenum, silver, gold, and lead.