Southern Copper (NYSE:SCCO) Given New $125.00 Price Target at Scotiabank

Southern Copper (NYSE:SCCO) had its price objective increased by stock analysts at Scotiabank from $92.00 to $125.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sector underperform” rating on the basic materials company’s stock. Scotiabank’s price objective indicates a potential downside of 33.60% from the company’s previous close.

Several other analysts have also recently weighed in on SCCO. HSBC reiterated a “hold” rating and issued a $118.00 price target (up previously from $105.00) on shares of Southern Copper in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research report on Monday, December 29th. UBS Group set a $148.00 price target on shares of Southern Copper and gave the company a “sell” rating in a research report on Wednesday, January 21st. Morgan Stanley set a $138.00 price objective on shares of Southern Copper and gave the stock an “underweight” rating in a report on Monday, December 15th. Finally, Citigroup reiterated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $134.65.

Southern Copper Price Performance

SCCO stock opened at $188.26 on Tuesday. The stock has a market capitalization of $152.90 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 1.54 and a beta of 1.06. The firm’s 50-day moving average price is $150.62 and its two-hundred day moving average price is $126.01. The company has a current ratio of 4.52, a quick ratio of 3.91 and a debt-to-equity ratio of 0.64. Southern Copper has a 12-month low of $74.84 and a 12-month high of $193.29.

Southern Copper’s stock is going to split before the market opens on Tuesday, February 10th. The 1.0085-1 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Monday, February 9th.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The firm had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%. As a group, equities analysts predict that Southern Copper will post 4.66 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Bonilla Luis Miguel Palomino sold 400 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total value of $55,600.00. Following the sale, the director directly owned 1,265 shares of the company’s stock, valued at approximately $175,835. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 948 shares of company stock valued at $131,130 over the last 90 days. Insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SCCO. Oak Harvest Investment Services bought a new stake in shares of Southern Copper in the fourth quarter worth approximately $7,650,000. Moran Wealth Management LLC boosted its holdings in Southern Copper by 21.8% in the fourth quarter. Moran Wealth Management LLC now owns 8,003 shares of the basic materials company’s stock worth $1,148,000 after purchasing an additional 1,432 shares during the last quarter. JGP Global Gestao de Recursos Ltda. purchased a new stake in Southern Copper in the fourth quarter worth approximately $531,000. Quadrant Private Wealth Management LLC grew its position in Southern Copper by 1.3% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 29,202 shares of the basic materials company’s stock worth $4,190,000 after purchasing an additional 379 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its stake in Southern Copper by 0.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,500 shares of the basic materials company’s stock valued at $1,220,000 after buying an additional 71 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Company Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.