Southern Copper Corporation (NYSE:SCCO) – B. Riley raised their FY2018 earnings per share estimates for Southern Copper in a research note issued on Thursday. B. Riley analyst L. Pipes now expects that the basic materials company will post earnings per share of $2.61 for the year, up from their prior estimate of $2.06. B. Riley has a “Buy” rating on the stock. B. Riley also issued estimates for Southern Copper’s FY2019 earnings at $2.67 EPS.

A number of other equities research analysts have also weighed in on SCCO. Barclays boosted their target price on shares of Southern Copper from $33.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday, August 9th. downgraded shares of Southern Copper from a “buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a research report on Wednesday, August 16th. BidaskClub upgraded shares of Southern Copper from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded shares of Southern Copper from a “hold” rating to a “strong-buy” rating and set a $50.00 price target on the stock in a research report on Saturday, October 28th. Finally, Goldman Sachs Group restated a “neutral” rating and issued a $40.00 price target on shares of Southern Copper in a research report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $38.88.

Shares of Southern Copper (NYSE:SCCO) opened at $42.76 on Monday. Southern Copper has a 1-year low of $31.55 and a 1-year high of $44.69. The company has a current ratio of 3.01, a quick ratio of 2.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $33,054.68, a P/E ratio of 33.41, a price-to-earnings-growth ratio of 0.67 and a beta of 0.62.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its position in shares of Southern Copper by 2.6% during the 2nd quarter. State Street Corp now owns 3,503,768 shares of the basic materials company’s stock valued at $121,331,000 after acquiring an additional 89,594 shares during the period. Northern Trust Corp lifted its position in shares of Southern Copper by 1.1% during the 2nd quarter. Northern Trust Corp now owns 1,664,436 shares of the basic materials company’s stock valued at $57,639,000 after acquiring an additional 17,711 shares during the period. Parametric Portfolio Associates LLC lifted its position in shares of Southern Copper by 0.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,490,453 shares of the basic materials company’s stock valued at $51,614,000 after acquiring an additional 4,061 shares during the period. Capital Growth Management LP lifted its position in shares of Southern Copper by 2.4% during the 2nd quarter. Capital Growth Management LP now owns 1,300,000 shares of the basic materials company’s stock valued at $45,019,000 after acquiring an additional 30,000 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Southern Copper by 131.2% during the 2nd quarter. Prudential Financial Inc. now owns 1,223,889 shares of the basic materials company’s stock valued at $42,384,000 after acquiring an additional 694,600 shares during the period. Hedge funds and other institutional investors own 6.34% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from Southern Copper’s previous quarterly dividend of $0.14. Southern Copper’s payout ratio is 78.13%.

COPYRIGHT VIOLATION WARNING: “Brokers Issue Forecasts for Southern Copper Corporation’s FY2018 Earnings (SCCO)” was first published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2017/12/04/brokers-issue-forecasts-for-southern-copper-corporations-fy2018-earnings-scco.html.

Southern Copper Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.

Receive News & Ratings for Southern Copper Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper Corporation and related companies with MarketBeat.com's FREE daily email newsletter.