JPMorgan Chase & Co. Cuts Southern Copper (NYSE:SCCO) Price Target to $79.00

Southern Copper (NYSE:SCCO - Get Free Report) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $83.50 to $79.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 25.24% from the company's previous close.

Several other brokerages also recently commented on SCCO. UBS Group downgraded shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective on the stock. in a research report on Tuesday. Scotiabank boosted their price objective on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, Southern Copper presently has an average rating of "Hold" and an average target price of $91.60.

Southern Copper Stock Performance

NYSE:SCCO traded down $0.42 during mid-day trading on Thursday, hitting $105.67. 718,128 shares of the company traded hands, compared to its average volume of 1,220,434. The stock's fifty day moving average price is $94.05 and its 200-day moving average price is $93.05. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. Southern Copper has a one year low of $74.11 and a one year high of $118.64. The firm has a market cap of $84.13 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.05 billion. Research analysts anticipate that Southern Copper will post 4.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. lifted its holdings in shares of Southern Copper by 0.7% in the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company's stock worth $1,409,000 after acquiring an additional 108 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Southern Copper by 28.0% during the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after buying an additional 114 shares during the period. Cadence Wealth Management LLC grew its stake in shares of Southern Copper by 4.1% during the fourth quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company's stock valued at $266,000 after buying an additional 116 shares during the last quarter. Zurich Insurance Group Ltd FI raised its holdings in shares of Southern Copper by 0.7% in the first quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company's stock worth $1,620,000 after buying an additional 125 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Southern Copper by 1.7% during the 4th quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company's stock worth $733,000 after acquiring an additional 133 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Company Profile

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.