UBS Group Reiterates Neutral Rating for Southern Copper (NYSE:SCCO)

Southern Copper (NYSE:SCCO - Get Free Report)'s stock had its "neutral" rating reiterated by analysts at UBS Group in a report released on Tuesday, Marketbeat reports. They currently have a $105.00 target price on the basic materials company's stock. UBS Group's price objective suggests a potential upside of 3.82% from the stock's previous close.

SCCO has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Scotiabank upped their target price 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. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, Southern Copper currently has an average rating of "Hold" and a consensus target price of $92.50.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $101.14 on Tuesday. The business's 50-day simple moving average is $93.52 and its 200 day simple moving average is $92.90. The company has a market cap of $80.53 billion, a P/E ratio of 22.13, a PEG ratio of 2.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71. Southern Copper has a one year low of $74.11 and a one year high of $118.64.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.05 billion. On average, sell-side analysts forecast that Southern Copper will post 4.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Southern Copper

Several institutional investors and hedge funds have recently made changes to their positions in SCCO. Capital World Investors boosted its holdings in Southern Copper by 0.6% in the fourth quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company's stock worth $385,684,000 after purchasing an additional 24,787 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Southern Copper by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock valued at $337,260,000 after buying an additional 15,037 shares during the period. JPMorgan Chase & Co. grew its position in shares of Southern Copper by 26.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock valued at $145,039,000 after buying an additional 322,935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Southern Copper by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,398,651 shares of the basic materials company's stock worth $130,718,000 after acquiring an additional 44,014 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Southern Copper by 6.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,280,286 shares of the basic materials company's stock worth $116,672,000 after acquiring an additional 78,769 shares during the period. 7.94% of the stock is 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.