Southern Copper Corp. Coverage Initiated by Analysts at BMO Capital Markets (SCCO)
Analysts at BMO Capital Markets initiated coverage on shares of Southern Copper Corp. (NASDAQ:SCCO) in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating and a $30.00 price target on the stock. BMO Capital Markets’ price target suggests a potential upside of 5.78% from the company’s current price.
The analysts wrote, “BMO Research is initiating coverage of Southern Copper with a Market Perform rating and a US$30.00 per share target price. (1) Significant Production Volumes at a Healthy Margin – Southern Copper is the largest publicly traded pure-play copper producer with the largest amount of contained reserves as well as the largest proposed increase in copper production in its peer group. (2) Elevated Risk Profile – The multiple delays that SCCO is continuing to experience could frustrate the company’s future plans and maintain pressure on its share price.”
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Southern Copper Corp. (NASDAQ:SCCO) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 20th. They now have a $29.00 price target on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Southern Copper Corp. (NASDAQ:SCCO) from $28.00 to $24.00 in a research note to investors on Wednesday, July 24th. They now have an “underperform” rating on the stock. Finally, analysts at Merrill Lynch upgraded shares of Southern Copper Corp. (NASDAQ:SCCO) to a “neutral” rating in a research note to investors on Friday, July 19th.
One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Southern Copper Corp. currently has an average rating of “Hold” and an average price target of $35.50.
Shares of Southern Copper Corp. (NASDAQ:SCCO) traded down 0.14% during mid-day trading on Wednesday, hitting $28.32. The stock had a trading volume of 321,096 shares. Southern Copper Corp. has a one year low of $25.75 and a one year high of $42.03. The stock’s 50-day moving average is $27.82 and its 200-day moving average is $31.37. The company has a market cap of $23.849 billion and a P/E ratio of 14.83.
Southern Copper Corporation (NASDAQ:SCCO) is an integrated copper producer.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.