Southern Copper (NYSE:SCCO) Hits New 52-Week High at $120.56

Shares of Southern Copper Co. (NYSE:SCCO) hit a new 52-week high on Monday . The company traded as high as $120.56 and last traded at $120.33, with a volume of 777489 shares. The stock had previously closed at $116.94.

Analyst Ratings Changes

Several analysts have weighed in on SCCO shares. HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price on the stock. in a research report on Monday, April 22nd. CICC Research began coverage on Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating for the company. The Goldman Sachs Group increased their price objective on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. StockNews.com lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Finally, Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and boosted their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. Five analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.00.

Southern Copper Stock Up 3.3 %

The firm has a market cap of $93.43 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 3.35 and a beta of 1.29. The business has a 50-day moving average price of $99.81 and a two-hundred day moving average price of $85.70. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a net margin of 24.20% and a return on equity of 30.29%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities research analysts expect that Southern Copper Co. will post 3.95 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SCCO. Hartford Financial Management Inc. purchased a new stake in Southern Copper in the 3rd quarter valued at $25,000. Fortis Group Advisors LLC raised its holdings 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 valued at $26,000 after buying an additional 151 shares during the last quarter. Riverview Trust Co purchased a new position in Southern Copper during the 1st quarter worth $27,000. Viking Fund Management LLC acquired a new position in shares of Southern Copper during the fourth quarter worth about $31,000. Finally, Venturi Wealth Management LLC lifted its position in Southern Copper by 164.8% in the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 300 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.