Southern Copper Corporation (NYSE:SCCO) Receives $147.19 Average Price Target from Brokerages

Shares of Southern Copper Corporation (NYSE:SCCO) have been assigned a consensus recommendation of “Reduce” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $147.1856.

SCCO has been the topic of several analyst reports. UBS Group reissued a “sell” rating and issued a $160.00 target price (up from $145.00) on shares of Southern Copper in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research report on Wednesday, June 24th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Barclays started coverage on shares of Southern Copper in a research report on Thursday, May 21st. They set an “underweight” rating and a $148.00 price objective on the stock. Finally, The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a report on Friday, April 10th.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director directly owned 1,807 shares in the company, valued at $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 404 shares of company stock valued at $74,108. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SCCO. Capital World Investors boosted its position in shares of Southern Copper by 36.1% during the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock valued at $781,268,000 after buying an additional 1,708,693 shares during the last quarter. Norges Bank bought a new position in Southern Copper during the 4th quarter valued at about $97,645,000. Capital Research Global Investors bought a new position in Southern Copper during the 4th quarter valued at about $81,039,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Southern Copper during the 1st quarter valued at about $85,342,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Southern Copper during the 4th quarter valued at about $46,560,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Southern Copper stock opened at $169.81 on Thursday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $140.27 billion, a P/E ratio of 28.05, a PEG ratio of 1.55 and a beta of 1.11. The stock’s 50 day moving average is $181.53 and its 200 day moving average is $180.10. Southern Copper has a twelve month low of $88.73 and a twelve month high of $223.88.

Southern Copper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Southern Copper Company Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.