Southern Copper (NYSE:SCCO) PT Lowered to $42.00

Southern Copper (NYSE:SCCO) had its price target cut by analysts at UBS Group from $45.00 to $42.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price objective would indicate a potential upside of 27.00% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Bank of America reissued a “buy” rating and issued a $46.00 price objective on shares of Southern Copper in a research report on Thursday, August 15th. Macquarie assumed coverage on shares of Southern Copper in a research report on Wednesday, July 10th. They issued an “underperform” rating and a $35.00 price objective for the company. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal” rating and set a $36.00 price objective for the company in a research report on Monday, September 23rd. ValuEngine raised shares of Southern Copper from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. Finally, JPMorgan Chase & Co. set a $32.00 price objective on shares of Southern Copper and gave the company a “hold” rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $51.90.

Shares of NYSE:SCCO traded up $0.64 during trading on Thursday, reaching $33.07. The stock had a trading volume of 4,202 shares, compared to its average volume of 671,022. The business has a fifty day moving average price of $32.84 and a 200-day moving average price of $35.87. The company has a quick ratio of 1.46, a current ratio of 2.24 and a debt-to-equity ratio of 0.82. The stock has a market cap of $25.07 billion, a P/E ratio of 16.53, a PEG ratio of 1.12 and a beta of 0.91. Southern Copper has a fifty-two week low of $29.01 and a fifty-two week high of $43.43.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. Southern Copper had a net margin of 20.79% and a return on equity of 21.75%. As a group, equities analysts forecast that Southern Copper will post 2.09 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Bank of Nova Scotia raised its stake in Southern Copper by 2.1% in the second quarter. Bank of Nova Scotia now owns 502,479 shares of the basic materials company’s stock worth $19,522,000 after buying an additional 10,316 shares in the last quarter. Denali Advisors LLC boosted its stake in shares of Southern Copper by 10.3% in the 2nd quarter. Denali Advisors LLC now owns 297,800 shares of the basic materials company’s stock worth $11,570,000 after buying an additional 27,700 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Southern Copper by 53.9% in the 2nd quarter. Private Advisor Group LLC now owns 34,688 shares of the basic materials company’s stock worth $1,347,000 after buying an additional 12,150 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Southern Copper by 198.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 200,382 shares of the basic materials company’s stock worth $7,811,000 after buying an additional 133,189 shares during the last quarter. Finally, Marshall Wace North America L.P. boosted its stake in shares of Southern Copper by 12.8% in the 1st quarter. Marshall Wace North America L.P. now owns 56,828 shares of the basic materials company’s stock worth $2,256,000 after buying an additional 6,460 shares during the last quarter. 6.56% of the stock is owned by hedge funds and other institutional investors.

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 and lead.

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Analyst Recommendations for Southern Copper (NYSE:SCCO)

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