Southern Copper (NYSE:SCCO) Stock Gets Price Target Bump from Wells Fargo & Company

Southern Copper (NYSE:SCCO) had its target price boosted by stock analysts at Wells Fargo & Company from $172.00 to $190.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 5.24% from the stock’s current price.

Other equities analysts have also issued reports about the company. Scotiabank reissued an “underperform” rating and set a $138.34 price objective (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Morgan Stanley boosted their target price on Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Finally, UBS Group reiterated a “sell” rating and set a $158.10 target price (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and an average price target of $153.83.

Southern Copper Stock Performance

NYSE SCCO opened at $200.51 on Tuesday. Southern Copper has a 52-week low of $119.25 and a 52-week high of $223.88. The company has a 50-day simple moving average of $199.24 and a 200 day simple moving average of $185.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The company has a market capitalization of $167.29 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 1.82 and a beta of 1.11.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper’s revenue was up 40.6% on a year-over-year basis. On average, research analysts predict that Southern Copper will post 7.86 EPS for the current year.

Insider Buying and Selling at Southern Copper

In related news, Director Luis Palomino Bonilla sold 202 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director directly owned 1,723 shares in the company, valued at approximately $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 704 shares of company stock valued at $138,077 in the last quarter. 0.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Southern Copper

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Southern Copper during the 2nd quarter valued at $1,729,500,000. Bank of America Corp DE purchased a new position in Southern Copper in the second quarter worth $318,448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Southern Copper by 2.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,290,648 shares of the basic materials company’s stock worth $224,908,000 after acquiring an additional 27,744 shares in the last quarter. Bollard Group LLC increased its stake in Southern Copper by 14.0% in the first quarter. Bollard Group LLC now owns 861,950 shares of the basic materials company’s stock valued at $148,307,000 after acquiring an additional 105,763 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in Southern Copper in the second quarter valued at $149,739,000. 7.94% of the stock is currently owned by institutional investors.

More Southern Copper News

Here are the key news stories impacting Southern Copper this week:

• Positive Sentiment: Deutsche Bank said copper’s rally may still be in its early stages, forecasting prices could reach $10 per pound, or approximately $22,050 per metric ton. Expected demand from artificial intelligence infrastructure and electric vehicles could support copper producers such as Southern Copper. Three stocks to buy as Deutsche Bank says copper could hit $10 a pound
• Neutral Sentiment: Southern Copper was highlighted as a potentially underappreciated stock ahead of third-quarter earnings, despite its relatively cautious analyst ratings. Improving earnings expectations or results could lead to a reassessment of sentiment. 3 Low-Rated Stocks Analysts May Be Underestimating Ahead of Q3 Earnings
• Neutral Sentiment: Zacks continued to classify Southern Copper as a strong momentum stock, indicating favorable recent price trends and investor interest, although the report does not provide a new fundamental catalyst. Here’s Why Southern Copper Is a Strong Momentum Stock
• Negative Sentiment: Wells Fargo raised its Southern Copper price target from $172 to $190 but maintained an “equal weight” rating. The revised target remains below the stock’s recent trading level, signaling limited near-term upside and likely contributing to selling pressure. Wells Fargo raises target for Southern Copper stock to USD 190
• Negative Sentiment: Southern Copper fell more than the broader market during the latest session, suggesting investors were taking profits or reducing exposure despite the company’s long-term copper growth prospects. Here’s Why Southern Copper Fell More Than Broader Market

About Southern Copper

Southern Copper Corp. is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of copper and other minerals. Its principal products include copper cathodes, copper concentrates, molybdenum, zinc, silver and lead. The company also produces sulfuric acid and other byproducts through its metallurgical operations.

Southern Copper operates major mining and processing assets in Mexico and Peru. Its Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Cuajone and Toquepala mines.