Southern Copper (NYSE:SCCO) Price Target Raised to $125.00

Southern Copper (NYSE:SCCO) had its target price increased by equities researchers at Scotiabank from $92.00 to $125.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “sector underperform” rating on the basic materials company’s stock. Scotiabank’s price target would suggest a potential downside of 33.60% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group reissued a “sell” rating and set a $129.00 price objective on shares of Southern Copper in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a report on Monday, December 29th. Itau BBA Securities downgraded Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 target price on the stock. in a research report on Monday, December 22nd. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, HSBC reaffirmed a “hold” rating and issued a $118.00 price objective (up previously from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $134.65.

Southern Copper Price Performance

NYSE SCCO opened at $188.26 on Tuesday. The company has a 50-day moving average price of $150.62 and a 200-day moving average price of $126.01. Southern Copper has a 52 week low of $74.84 and a 52 week high of $193.29. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $152.90 billion, a P/E ratio of 39.47, a PEG ratio of 1.54 and a beta of 1.06.

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 minted shares will be distributed to shareholders after the closing bell on Monday, February 9th.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.05 billion. Equities research analysts anticipate that Southern Copper will post 4.66 earnings per share for the current year.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 1,265 shares of the company’s stock, valued at approximately $175,835. The trade was a 24.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 948 shares of company stock worth $131,130. 0.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Southern Copper

Institutional investors and hedge funds have recently modified their holdings of the stock. Hopwood Financial Services Inc. purchased a new position in Southern Copper during the third quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. boosted its holdings in shares of Southern Copper by 65.1% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 84 shares during the last quarter. Tobam purchased a new position in shares of Southern Copper during the second quarter valued at about $29,000. United Community Bank bought a new stake in shares of Southern Copper in the third quarter worth about $30,000. Finally, Caitlin John LLC bought a new stake in shares of Southern Copper in the third quarter worth about $30,000. 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.