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

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

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

Southern Copper Stock Performance

NYSE:SCCO opened at $111.84 on Wednesday. The business has a 50 day moving average of $99.14 and a 200 day moving average of $85.25. The company has a market capitalization of $86.46 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 3.14 and a beta of 1.29. Southern Copper has a 1-year low of $64.66 and a 1-year high of $120.37. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share 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 company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. On average, sell-side analysts predict that Southern Copper will post 3.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Southern Copper

A number of institutional investors have recently modified their holdings of the stock. Fisher Asset Management LLC grew its stake in shares of Southern Copper by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock worth $288,333,000 after acquiring an additional 39,422 shares during the last quarter. abrdn plc lifted its holdings in shares of Southern Copper by 2.3% during the fourth quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock valued at $261,759,000 after purchasing an additional 67,930 shares in the last quarter. Empower Advisory Group LLC lifted its holdings in shares of Southern Copper by 0.9% during the third quarter. Empower Advisory Group LLC now owns 1,234,784 shares of the basic materials company’s stock valued at $92,967,000 after purchasing an additional 10,718 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Southern Copper by 7.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,151,729 shares of the basic materials company’s stock valued at $86,714,000 after purchasing an additional 80,576 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Southern Copper by 1.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock valued at $87,306,000 after purchasing an additional 18,883 shares in 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.