Southern Copper (NYSE:SCCO) Reaches New 52-Week High at $120.56

Southern Copper Co. (NYSE:SCCO) shares reached a new 52-week high during trading on Monday . The stock traded as high as $120.56 and last traded at $120.33, with a volume of 777489 shares changing hands. The stock had previously closed at $116.94.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SCCO. CICC Research initiated coverage on shares of Southern Copper in a report on Wednesday, April 24th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. dropped their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research report on Thursday, March 21st. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and raised their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. Scotiabank upped their target price on shares of Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 18th. Finally, StockNews.com lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Southern Copper presently has an average rating of “Hold” and an average target price of $76.00.

Southern Copper Trading Up 3.3 %

The company has a market capitalization of $93.43 billion, a price-to-earnings ratio of 39.50, a price-to-earnings-growth ratio of 3.35 and a beta of 1.29. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. The company’s fifty day simple moving average is $99.81 and its two-hundred day simple moving average is $85.70.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.15). The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a return on equity of 30.29% and a net margin of 24.20%. Research analysts forecast that Southern Copper Co. will post 3.95 earnings per share for the current fiscal year.

Institutional Trading of Southern Copper

Hedge funds have recently added to or reduced their stakes in the company. Hartford Financial Management Inc. acquired a new position in Southern Copper during the third quarter valued at approximately $25,000. Fortis Group Advisors LLC boosted its stake in shares of Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Southern Copper during the first quarter worth about $27,000. Viking Fund Management LLC acquired a new stake in Southern Copper during the 4th quarter worth approximately $31,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Southern Copper by 164.8% in the fourth 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 period. 7.94% of the stock is owned by institutional investors and hedge funds.

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.