Citigroup Boosts Southern Copper (NYSE:SCCO) Price Target to $100.00

Southern Copper (NYSE:SCCO) had its price objective lifted by analysts at Citigroup from $99.44 to $100.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “sell” rating on the basic materials company’s stock. Citigroup’s target price would suggest a potential downside of 13.28% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SCCO. Morgan Stanley upped their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. UBS Group initiated coverage on shares of Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 target price for the company. Six equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and an average target price of $90.88.

Southern Copper Trading Down 1.7 %

Shares of NYSE:SCCO opened at $115.32 on Wednesday. The stock has a market capitalization of $90.08 billion, a PE ratio of 38.33, a P/E/G ratio of 1.23 and a beta of 1.17. Southern Copper has a 1 year low of $68.93 and a 1 year high of $129.79. The firm has a fifty day moving average price of $103.41 and a 200 day moving average price of $109.23. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Analysts expect that Southern Copper will post 4.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SCCO. Fortis Group Advisors LLC raised its position in shares of Southern Copper by 100.0% during 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. Fidelis Capital Partners LLC acquired a new position in shares of Southern Copper during the first quarter valued at about $26,000. Riverview Trust Co acquired a new position in shares of Southern Copper during the first quarter valued at about $27,000. Itau Unibanco Holding S.A. acquired a new position in shares of Southern Copper during the second quarter valued at about $31,000. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Southern Copper during the second quarter valued at about $53,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

About Southern Copper

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.