Southern Copper (NYSE:SCCO) Price Target Raised to $92.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target for Southern Copper from $79.00 to $92.00, maintaining a "neutral" rating, indicating a potential downside of 9.02% from the current stock price.
• Several analysts have differing views on Southern Copper, with Morgan Stanley setting a target of $99.00 under an "underweight" rating, while UBS lowered its rating to "neutral" with a target price of $105.00.
• Southern Copper's stock recently traded at $101.12, with a market capitalization of $81.31 billion and a PE ratio of 22.13, highlighting its significant presence in the mining sector.

Southern Copper (NYSE:SCCO - Get Free Report) had its price objective lifted by JPMorgan Chase & Co. from $79.00 to $92.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price points to a potential downside of 9.02% from the stock's current price.

SCCO has been the topic of several other reports. Morgan Stanley reiterated an "underweight" rating and issued a $99.00 target price (up from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. UBS Group lowered shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price on the stock. in a report on Tuesday, July 1st. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $93.60.

Southern Copper Price Performance

NYSE SCCO traded up $3.87 during trading hours on Wednesday, hitting $101.12. 538,190 shares of the company's stock traded hands, compared to its average volume of 1,401,016. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. The company has a market capitalization of $81.31 billion, a PE ratio of 22.13, a PEG ratio of 1.41 and a beta of 0.99. The firm's 50-day moving average is $98.18 and its 200-day moving average is $94.02. Southern Copper has a 52-week low of $74.84 and a 52-week high of $121.44.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the sale, the director directly owned 2,327 shares in the company, valued at $232,700. This represents a 15.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Southern Copper

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lido Advisors LLC raised its stake in Southern Copper by 58.3% during the 4th quarter. Lido Advisors LLC now owns 3,021 shares of the basic materials company's stock worth $275,000 after acquiring an additional 1,113 shares in the last quarter. AQR Capital Management LLC grew its position in Southern Copper by 1.2% during the 4th quarter. AQR Capital Management LLC now owns 80,561 shares of the basic materials company's stock worth $7,341,000 after purchasing an additional 959 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Southern Copper by 19.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 22,829 shares of the basic materials company's stock worth $2,080,000 after purchasing an additional 3,705 shares during the last quarter. Aptus Capital Advisors LLC grew its position in Southern Copper by 176.7% during the 4th quarter. Aptus Capital Advisors LLC now owns 8,751 shares of the basic materials company's stock worth $797,000 after purchasing an additional 5,588 shares during the last quarter. Finally, Algert Global LLC purchased a new position in Southern Copper during the 4th quarter worth $2,055,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

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.

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