Southern Copper (NYSE:SCCO) Given New $145.00 Price Target at UBS Group

Southern Copper (NYSE:SCCO) had its price target upped by investment analysts at UBS Group from $140.00 to $145.00 in a research report issued on Thursday,MarketScreener reports. The brokerage currently has a “sell” rating on the basic materials company’s stock. UBS Group’s price objective would indicate a potential downside of 17.65% from the company’s current price.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Morgan Stanley boosted their price objective on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. Wells Fargo & Company set a $171.00 price objective on Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price on the stock in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper presently has a consensus rating of “Reduce” and an average price target of $144.88.

Southern Copper Price Performance

Shares of SCCO traded up $1.99 during mid-day trading on Thursday, hitting $176.08. 97,918 shares of the stock were exchanged, compared to its average volume of 1,881,159. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The company has a market cap of $144.23 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. Southern Copper has a 52-week low of $88.73 and a 52-week high of $223.88. The firm has a 50-day moving average of $178.16 and a two-hundred day moving average of $169.04.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.04. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. On average, equities analysts predict that Southern Copper will post 6.97 earnings per share for the current year.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 193 shares of the 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 approximately $298,042.20. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 300 shares of company stock worth $52,848 over the last quarter. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Southern Copper

Several hedge funds have recently bought and sold shares of the business. Capital World Investors lifted its position in shares of 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 worth $781,268,000 after purchasing an additional 1,708,693 shares during the period. Norges Bank purchased a new stake in Southern Copper in the fourth quarter valued at about $97,645,000. Capital Research Global Investors acquired a new stake in Southern Copper in the 4th quarter worth approximately $81,039,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Southern Copper during the first quarter worth $85,342,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Southern Copper during the 4th quarter worth about $46,560,000. Institutional investors own 7.94% of the company’s stock.

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.