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

Research analysts at CICC Research assumed coverage on shares of Southern Copper (NYSE:SCCO - Get Free Report) in a report issued on Wednesday, Benzinga reports. The firm set an "outperform" rating on the basic materials company's stock.

A number of other equities analysts have also weighed in on SCCO. JPMorgan Chase & Co. cut their target price on shares of Southern Copper from $63.50 to $61.00 and set an "underweight" rating for the company in a research report on Thursday, March 21st. StockNews.com lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Monday, February 5th. Scotiabank raised their price objective on shares of Southern Copper from $53.00 to $55.00 and gave the company a "sector underperform" rating in a research report on Thursday, April 18th. HSBC lowered shares of Southern Copper from a "hold" rating to a "reduce" rating and set a $80.00 price objective for the company. in a research report on Monday. Finally, The Goldman Sachs Group lifted their target price on shares of Southern Copper from $61.00 to $82.00 and gave the company a "sell" rating in a research report on Friday, March 22nd. Five analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $76.00.

Southern Copper Stock Performance

NYSE SCCO traded down $0.39 during trading hours on Wednesday, reaching $109.25. 1,499,169 shares of the company were exchanged, compared to its average volume of 1,130,960. Southern Copper has a 1 year low of $64.66 and a 1 year high of $120.37. The business's 50 day simple moving average is $98.56 and its 200-day simple moving average is $85.07. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $84.46 billion, a P/E ratio of 34.79, a P/E/G ratio of 3.20 and a beta of 1.29.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.15). The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.37 billion. Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. On average, equities research analysts expect that Southern Copper will post 3.95 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors 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 $25,000. Fortis Group Advisors LLC increased its stake 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 period. Riverview Trust Co purchased a new position in shares of Southern Copper in the first quarter worth $27,000. Viking Fund Management LLC purchased a new position in shares of Southern Copper in the fourth quarter worth $31,000. Finally, Venturi Wealth Management LLC increased its stake 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 period. 7.94% of the stock is owned by hedge funds and other 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.