Southern Copper (NYSE:SCCO) Price Target Raised to $133.00 at Scotiabank

Southern Copper (NYSE:SCCO) had its price target hoisted by Scotiabank from $125.00 to $133.00 in a research note issued to investors on Thursday,Benzinga reports. Scotiabank currently has a sector underperform rating on the basic materials company’s stock.

Several other analysts also recently issued reports on SCCO. Wells Fargo & Company set a $186.00 price target on Southern Copper and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. UBS Group cut their price target on Southern Copper from $150.00 to $140.00 and set a “sell” rating on the stock in a report on Friday, March 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a report on Friday, April 10th. Finally, Citigroup reissued a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, Southern Copper has a consensus rating of “Reduce” and an average price target of $145.61.

Southern Copper Trading Down 2.9%

NYSE:SCCO opened at $182.33 on Thursday. The company has a quick ratio of 3.40, a current ratio of 3.89 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $186.15 and its two-hundred day moving average is $162.84. Southern Copper has a 52 week low of $86.59 and a 52 week high of $223.88. The company has a market cap of $149.35 billion, a PE ratio of 34.27, a P/E/G ratio of 1.89 and a beta of 1.16.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, January 28th. The basic materials company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the business posted $0.98 EPS. On average, analysts predict that Southern Copper will post 6.79 EPS for the current year.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 193 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the sale, the director directly owned 1,707 shares in the company, valued at $298,042.20. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the sale, the director owned 605 shares in the company, valued at approximately $126,783.04. This represents a 93.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 9,526 shares of company stock worth $1,989,373. 0.07% of the stock is owned by insiders.

Institutional Trading of Southern Copper

Several large investors have recently added to or reduced their stakes in the business. Capital World Investors increased its position in Southern Copper by 36.1% in the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock valued at $781,268,000 after acquiring an additional 1,708,693 shares during the period. State Street Corp increased its position in Southern Copper by 2.4% in the 4th quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock valued at $410,646,000 after acquiring an additional 66,268 shares during the period. Fisher Asset Management LLC increased its position in Southern Copper by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock valued at $363,873,000 after acquiring an additional 7,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Southern Copper by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock valued at $169,480,000 after acquiring an additional 90,237 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Southern Copper by 12.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company’s stock valued at $132,479,000 after acquiring an additional 123,532 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Company Profile

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.