Southern Copper Corp Downgraded to Market Perform at FBR Capital Markets (SCCO)
Southern Copper Corp (NASDAQ:SCCO) was downgraded by investment analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday. They currently have a $35.00 price objective on the stock, down from their previous price objective of $37.00. FBR Capital Markets’ price target suggests a potential upside of 6.42% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse raised their price target on shares of Southern Copper Corp from $38.00 to $41.00 in a research note on Tuesday. Separately, analysts at BMO Capital Markets raised their price target on shares of Southern Copper Corp from $43.00 to $46.00 in a research note on Thursday, July 31st. They now have a “market perform” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Southern Copper Corp from $47.00 to $46.00 in a research note on Tuesday, July 15th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $35.98.
Shares of Southern Copper Corp (NASDAQ:SCCO) opened at 32.89 on Wednesday. Southern Copper Corp has a 1-year low of $24.50 and a 1-year high of $33.90. The stock has a 50-day moving average of $31.9 and a 200-day moving average of $30.07. The company has a market cap of $27.397 billion and a price-to-earnings ratio of 19.64.
Southern Copper Corp (NASDAQ:SCCO) last announced its earnings results on Tuesday, July 29th. The company reported $0.40 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.41 by $0.01. On average, analysts predict that Southern Copper Corp will post $1.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 28th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, August 13th.
Southern Copper Corporation (NASDAQ:SCCO) is an integrated copper producer.
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