Southern Copper Corp Receives Consensus Rating of “Hold” from Brokerages (NASDAQ:SCCO)
Shares of Southern Copper Corp (NASDAQ:SCCO) have been given an average recommendation of “Hold” by the twelve brokerages that are presently covering the company, American Banking News.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $37.40.
SCCO has been the subject of a number of recent research reports. Analysts at Morgan Stanley downgraded shares of Southern Copper Corp to an “underweight” rating in a research note on Wednesday, August 13th. They now have a $40.00 price target on the stock, down previously from $46.00. Separately, analysts at FBR Capital Markets downgraded shares of Southern Copper Corp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 6th. They now have a $35.00 price target on the stock, down previously from $37.00. Finally, 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, August 5th.
Southern Copper Corp (NASDAQ:SCCO) traded up 0.69% on Tuesday, hitting $32.15. The stock had a trading volume of 291,714 shares. Southern Copper Corp has a one year low of $24.50 and a one year high of $33.90. The stock’s 50-day moving average is $32.55 and its 200-day moving average is $30.44. The company has a market cap of $26.758 billion and a price-to-earnings ratio of 18.94.
Southern Copper Corp (NASDAQ:SCCO) last announced its earnings results on Monday, August 18th. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.44 by $0.04. On average, analysts predict that Southern Copper Corp will post $1.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 28th. Investors of record on Friday, August 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, August 13th.
In other Southern Copper Corp news, Chairman German Larrea Mota Velasco purchased 100,000 shares of Southern Copper Corp stock in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average cost of $31.36 per share, for a total transaction of $3,136,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Southern Copper Corporation (NASDAQ:SCCO) is an integrated copper producer.
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