Southern Copper (NYSE:SCCO) Coverage Initiated at CICC Research

CICC Research began coverage on shares of Southern Copper (NYSE:SCCO) in a research note published on Wednesday morning, Benzinga reports. The firm issued an outperform rating on the basic materials company’s stock.

Several other research firms have also commented on SCCO. Scotiabank lifted their price target on Southern Copper from $53.00 to $55.00 and gave the stock a sector underperform rating in a research report on Thursday, April 18th. HSBC lowered Southern Copper from a hold rating to a reduce rating and set a $80.00 price target for the company. in a research report on Monday, April 22nd. StockNews.com lowered Southern Copper from a buy rating to a hold rating in a research report on Monday, February 5th. The Goldman Sachs Group lifted their price target on Southern Copper from $61.00 to $82.00 and gave the stock a sell rating in a research report on Friday, March 22nd. Finally, Jefferies Financial Group upgraded Southern Copper from a hold rating to a buy rating and lifted their price target for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $76.00.

Southern Copper Trading Up 4.6 %

Shares of Southern Copper stock opened at $116.94 on Wednesday. The firm has a market cap of $90.41 billion, a price-to-earnings ratio of 38.47, a PEG ratio of 3.35 and a beta of 1.29. The business has a 50-day moving average price of $99.81 and a 200-day moving average price of $85.62. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper has a twelve month low of $64.66 and a twelve month high of $120.37.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. Equities research analysts anticipate that Southern Copper will post 3.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Northwest Bancshares Inc. purchased a new position in shares of Southern Copper during the first quarter valued at approximately $243,000. Yousif Capital Management LLC raised its stake in Southern Copper by 3.5% in the first quarter. Yousif Capital Management LLC now owns 15,123 shares of the basic materials company’s stock worth $1,611,000 after buying an additional 512 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in Southern Copper in the first quarter worth approximately $1,116,000. Checchi Capital Advisers LLC raised its stake in Southern Copper by 5.1% in the first quarter. Checchi Capital Advisers LLC now owns 5,522 shares of the basic materials company’s stock worth $588,000 after buying an additional 266 shares in the last quarter. Finally, Advocate Group LLC raised its stake in Southern Copper by 14.4% in the first quarter. Advocate Group LLC now owns 38,811 shares of the basic materials company’s stock worth $4,134,000 after buying an additional 4,891 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

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.