Southern Copper (NYSE:SCCO) Price Target Cut to $79.00 by Analysts at JPMorgan Chase & Co.

Southern Copper (NYSE:SCCO) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $83.50 to $79.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 25.24% from the stock’s previous close.

A number of other research firms also recently weighed in on SCCO. Hsbc Global Res upgraded Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. UBS Group downgraded shares of Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 target price on the stock. in a report on Tuesday. Scotiabank lifted their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. Finally, Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.60.

Southern Copper Trading Down 0.4%

NYSE:SCCO opened at $105.67 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.71 and a quick ratio of 3.22. The business’s 50-day simple moving average is $94.48 and its 200-day simple moving average is $93.17. Southern Copper has a fifty-two week low of $74.11 and a fifty-two week high of $118.64. The stock has a market capitalization of $84.13 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Sell-side analysts expect that Southern Copper will post 4.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Southern Copper

Several large investors have recently added to or reduced their stakes in SCCO. Generali Investments CEE investicni spolecnost a.s. increased its holdings in shares of Southern Copper by 0.7% during the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company’s stock valued at $1,409,000 after acquiring an additional 108 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 114 shares in the last quarter. Cadence Wealth Management LLC grew its position in Southern Copper by 4.1% in the 4th quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 116 shares during the period. Zurich Insurance Group Ltd FI increased its stake in Southern Copper by 0.7% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company’s stock valued at $1,620,000 after purchasing an additional 125 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Southern Copper by 1.7% during the fourth quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company’s stock worth $733,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

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.