Southern Copper (NYSE:SCCO) PT Raised to $100.00

Southern Copper (NYSE:SCCO) had its target price lifted by equities researchers at Morgan Stanley from $81.70 to $100.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the basic materials company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 9.55% from the company’s previous close.

A number of other brokerages have also issued reports on SCCO. Jefferies Financial Group upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and raised their price objective for the company from $91.00 to $130.00 in a report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price target on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a report on Monday, April 22nd. Finally, CICC Research began coverage on shares of Southern Copper in a report on Wednesday, April 24th. They set an “outperform” rating for the company. Five equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $84.50.

Southern Copper Trading Up 2.4 %

SCCO opened at $110.56 on Friday. The company’s 50 day moving average is $115.09 and its 200-day moving average is $97.19. Southern Copper has a 1-year low of $67.64 and a 1-year high of $129.79. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. The company has a market cap of $86.37 billion, a P/E ratio of 36.75, a PEG ratio of 1.18 and a beta of 1.23.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. Equities research analysts predict that Southern Copper will post 4.22 earnings per share for the current fiscal year.

Insider Activity

In other news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total value of $425,880.00. Following the completion of the sale, the director now owns 2,214 shares in the company, valued at approximately $261,916.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total value of $425,880.00. Following the completion of the sale, the director now owns 2,214 shares of the company’s stock, valued at approximately $261,916.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the sale, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The disclosure for this sale can be found here. Insiders sold 4,100 shares of company stock worth $483,450 in the last quarter. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of Southern Copper

Several hedge funds have recently bought and sold shares of the business. Fortis Group Advisors LLC boosted its holdings in Southern Copper by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 151 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Southern Copper during the 1st quarter worth $26,000. Riverview Trust Co purchased a new position in Southern Copper during the 1st quarter worth $27,000. Viking Fund Management LLC purchased a new position in Southern Copper during the 4th quarter worth $31,000. Finally, Venturi Wealth Management LLC boosted its holdings in Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

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, copper, molybdenum, silver, gold, and lead.