Southern Copper (SCCO) Raised to “Buy” at UBS Group

Southern Copper (NYSE:SCCO) was upgraded by UBS Group to a “buy” rating in a report issued on Friday, www.tipranks.com reports. The brokerage currently has a $46.00 price objective on the basic materials company’s stock. UBS Group’s price objective would indicate a potential upside of 15.67% from the stock’s previous close.

SCCO has been the subject of several other research reports. Santander cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Citigroup raised Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 target price for the company in a research note on Monday, October 8th. B. Riley decreased their target price on Southern Copper from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, September 19th. Finally, Scotiabank set a $40.00 target price on Southern Copper and gave the stock a “sell” rating in a research note on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $46.13.

Shares of SCCO stock opened at $39.77 on Friday. The stock has a market capitalization of $28.45 billion, a PE ratio of 23.90 and a beta of 0.54. The company has a quick ratio of 2.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.91. Southern Copper has a 1-year low of $35.59 and a 1-year high of $58.09.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.80 billion. Southern Copper had a net margin of 13.24% and a return on equity of 15.13%. As a group, research analysts predict that Southern Copper will post 2.25 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Piedmont Investment Advisors LLC bought a new position in Southern Copper in the second quarter worth approximately $122,000. Navellier & Associates Inc bought a new position in Southern Copper in the second quarter worth approximately $139,000. Schroder Investment Management Group bought a new position in Southern Copper in the second quarter worth approximately $158,000. Altman Advisors Inc. bought a new position in Southern Copper in the second quarter worth approximately $204,000. Finally, Cadence Capital Management LLC bought a new position in Southern Copper in the second quarter worth approximately $253,000. Institutional investors and hedge funds own 7.52% 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, Chile, and Ecuador. 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 and lead.

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Analyst Recommendations for Southern Copper (NYSE:SCCO)

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