Southern Copper (NYSE:SCCO) Price Target Raised to $145.00 at UBS Group

Southern Copper (NYSE:SCCO) had its price target upped by UBS Group from $140.00 to $145.00 in a report issued on Thursday,MarketScreener reports. The brokerage presently has a “sell” rating on the basic materials company’s stock. UBS Group’s price target indicates a potential downside of 17.65% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research note on Friday, April 10th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the company an “equal weight” rating in a report on Friday, May 1st. Bank of America cut Southern Copper from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $162.00 to $175.00 in a research report on Thursday, February 26th. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Scotiabank reiterated an “underperform” rating and issued a $135.00 price target (up from $133.00) on shares of Southern Copper in a research note on Friday, May 15th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $144.88.

Southern Copper Stock Up 1.1%

Shares of NYSE SCCO traded up $1.99 on Thursday, reaching $176.08. 97,918 shares of the company’s stock traded hands, compared to its average volume of 1,881,159. The business’s 50 day simple moving average is $178.16 and its two-hundred day simple moving average is $169.04. Southern Copper has a 12 month low of $88.73 and a 12 month high of $223.88. The company has a market cap of $144.23 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. As a group, equities research analysts forecast that Southern Copper will post 6.97 EPS for the current fiscal year.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 193 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.60, for a total transaction of $33,697.80. Following the completion of the sale, the director owned 1,707 shares of the company’s stock, valued at $298,042.20. The trade was a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 300 shares of company stock worth $52,848. Company insiders own 0.07% of the company’s stock.

Institutional Trading of Southern Copper

Several institutional investors have recently made changes to their positions in SCCO. Hopwood Financial Services Inc. purchased a new stake in Southern Copper during the 3rd quarter valued at approximately $25,000. SHP Wealth Management purchased a new position in shares of Southern Copper in the fourth quarter worth $25,000. Lloyd Advisory Services LLC. bought a new position in shares of Southern Copper during the fourth quarter worth $29,000. Virtus Advisers LLC purchased a new position in Southern Copper during the fourth quarter valued at $29,000. Finally, United Community Bank purchased a new position in Southern Copper during the third quarter valued at $30,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

About Southern Copper

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.