Southern Copper Corporation (NYSE:SCCO) Stock Has Average Price Target of $156.02 According to Analysts

Southern Copper Corporation (NYSE:SCCO) has been given a consensus recommendation of “Reduce” by the thirteen ratings firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $160.51.

Several brokerages have recently issued reports on SCCO. Barclays set a $164.03 price objective on Southern Copper and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. UBS Group reiterated a “sell” rating and issued a $180.00 price target (up from $160.00) on shares of Southern Copper in a report on Thursday, October 8th. Zacks Research lowered shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Morgan Stanley reissued an “underweight” rating and set a $170.00 price target on shares of Southern Copper in a research report on Wednesday, October 7th.

Insider Buying and Selling at Southern Copper

In other news, Director Luis Palomino Bonilla sold 202 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the sale, the director owned 1,723 shares in the company, valued at $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 704 shares of company stock valued at $138,077 in the last quarter. 0.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCCO. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Southern Copper in the 2nd quarter valued at about $1,078,000. Fund Advisors of America Inc FL acquired a new stake in Southern Copper during the second quarter worth about $870,000. RFG Advisory LLC grew its holdings in Southern Copper by 143.7% during the second quarter. RFG Advisory LLC now owns 21,727 shares of the basic materials company’s stock worth $3,786,000 after acquiring an additional 12,811 shares during the period. HighTower Advisors LLC grew its holdings in Southern Copper by 11.9% during the second quarter. HighTower Advisors LLC now owns 58,421 shares of the basic materials company’s stock worth $10,180,000 after acquiring an additional 6,195 shares during the period. Finally, Equitable Holdings Inc. purchased a new position in Southern Copper during the second quarter valued at approximately $505,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

SCCO stock traded down $1.51 during midday trading on Friday, reaching $200.18. The stock had a trading volume of 978,128 shares, compared to its average volume of 964,532. The stock has a market cap of $167.01 billion, a PE ratio of 29.27, a P/E/G ratio of 1.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The firm has a fifty day simple moving average of $201.30 and a two-hundred day simple moving average of $187.34. Southern Copper has a 52-week low of $119.25 and a 52-week high of $223.88.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. As a group, equities research analysts anticipate that Southern Copper will post 7.94 EPS for the current year.

Southern Copper Company Profile

Southern Copper Corp. is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of copper and other minerals. Its principal products include copper cathodes, copper concentrates, molybdenum, zinc, silver and lead. The company also produces sulfuric acid and other byproducts through its metallurgical operations.

Southern Copper operates major mining and processing assets in Mexico and Peru. Its Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Cuajone and Toquepala mines.