Southern Copper (NYSE:SCCO) Research Coverage Started at CICC Research

Equities researchers at CICC Research assumed coverage on shares of Southern Copper (NYSE:SCCO) in a note issued to investors on Wednesday, Benzinga reports. The firm set an “outperform” rating on the basic materials company’s stock.

Several other brokerages have also recently issued reports on SCCO. StockNews.com cut Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. The Goldman Sachs Group raised their target price on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a report on Friday, March 22nd. Scotiabank raised their price objective on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. cut their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. Finally, Jefferies Financial Group upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and raised their target price for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.00.

Southern Copper Trading Up 0.8 %

NYSE SCCO opened at $110.48 on Wednesday. Southern Copper has a 12 month low of $64.66 and a 12 month high of $120.37. The company has a current ratio of 3.19, a quick ratio of 2.46 and a debt-to-equity ratio of 0.84. The stock’s fifty day moving average price is $97.98 and its 200-day moving average price is $84.90. The stock has a market cap of $85.41 billion, a P/E ratio of 35.18, a P/E/G ratio of 3.20 and a beta of 1.29.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (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 business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. As a group, equities analysts forecast that Southern Copper will post 3.95 EPS for the current fiscal year.

Institutional Trading of Southern Copper

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in shares of Southern Copper by 7.0% during the 3rd quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock worth $6,075,000 after acquiring an additional 5,296 shares in the last quarter. Tyche Wealth Partners LLC bought a new position in Southern Copper during the fourth quarter valued at $1,668,000. Raymond James Financial Services Advisors Inc. lifted its position in Southern Copper by 119.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock valued at $3,548,000 after purchasing an additional 22,471 shares during the last quarter. Viking Fund Management LLC purchased a new position in shares of Southern Copper in the 4th quarter worth $31,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Southern Copper by 17.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock worth $51,854,000 after buying an additional 102,286 shares during the last quarter. 7.94% of the stock is currently owned by 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, copper, molybdenum, silver, gold, and lead.