Southern Copper (NYSE:SCCO) Now Covered by Analysts at CICC Research

CICC Research started coverage on shares of Southern Copper (NYSE:SCCO) in a research note published on Wednesday, Benzinga reports. The brokerage issued an outperform rating on the basic materials company’s stock.

SCCO has been the topic of several other reports. HSBC downgraded shares of Southern Copper from a hold rating to a reduce rating and set a $80.00 price objective on the stock. in a research report on Monday, April 22nd. Jefferies Financial Group raised shares of Southern Copper from a hold rating to a buy rating and raised their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. JPMorgan Chase & Co. dropped their price target on shares of Southern Copper from $63.50 to $61.00 and set an underweight rating on the stock in a report on Thursday, March 21st. The Goldman Sachs Group raised their price target on shares of Southern Copper from $61.00 to $82.00 and gave the company a sell rating in a report on Friday, March 22nd. Finally, StockNews.com downgraded shares of Southern Copper from a buy rating to a hold rating in a report on Monday, February 5th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $76.00.

Southern Copper Stock Performance

Shares of SCCO stock opened at $116.96 on Wednesday. Southern Copper has a one year low of $64.66 and a one year high of $120.37. The company’s 50-day moving average is $99.81 and its 200 day moving average is $85.55. The company has a market capitalization of $90.42 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Sell-side analysts expect that Southern Copper will post 3.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Southern Copper

Institutional investors and hedge funds have recently made changes to their positions in the business. Hartford Financial Management Inc. purchased a new position in shares of Southern Copper in the third quarter worth approximately $25,000. Fortis Group Advisors LLC boosted its holdings in shares of Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after buying an additional 151 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Southern Copper in the first quarter worth approximately $27,000. Viking Fund Management LLC purchased a new position in shares of Southern Copper in the fourth quarter worth approximately $31,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Southern Copper by 164.8% in the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors 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.