UBS Group Lowers Southern Copper (NYSE:SCCO) Price Target to $100.00

Southern Copper (NYSE:SCCO) had its price objective reduced by UBS Group from $120.00 to $100.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price indicates a potential upside of 14.92% from the stock’s current price.

Other research analysts have also issued research reports about the company. Scotiabank increased their price target on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a report on Monday. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Southern Copper has an average rating of “Hold” and an average price target of $89.58.

Southern Copper Price Performance

SCCO stock traded down $0.65 during trading on Tuesday, hitting $87.02. The stock had a trading volume of 397,887 shares, compared to its average volume of 1,221,935. The stock has a market cap of $69.28 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The company’s 50 day moving average price is $91.94 and its two-hundred day moving average price is $98.79. Southern Copper has a 1-year low of $74.84 and a 1-year high of $127.34.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. On average, sell-side analysts forecast that Southern Copper will post 4.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SCCO. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Southern Copper in the 4th quarter valued at $30,000. Deseret Mutual Benefit Administrators increased its holdings in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares in the last quarter. IFP Advisors Inc raised its position in Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 281 shares during the period. Spire Wealth Management acquired a new position in shares of Southern Copper during the fourth quarter worth about $47,000. Finally, Larson Financial Group LLC boosted its position in shares of Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after buying an additional 114 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Company Profile

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.