Southern Copper Co. (NYSE:SCCO) Receives $91.50 Consensus Price Target from Brokerages

Shares of Southern Copper Co. (NYSE:SCCO) have earned an average rating of “Reduce” from the six analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $91.50.

SCCO has been the subject of a number of research reports. StockNews.com cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, April 28th. UBS Group cut their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Scotiabank lifted their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. Hsbc Global Res upgraded shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their target price on Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a report on Monday, April 14th.

Southern Copper Stock Down 1.8 %

Southern Copper stock opened at $88.55 on Friday. The firm has a 50 day simple moving average of $90.29 and a 200 day simple moving average of $96.12. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper has a 1-year low of $74.11 and a 1-year high of $126.09. The firm has a market capitalization of $70.50 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. On average, analysts predict that Southern Copper will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be issued a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date is Friday, May 2nd. Southern Copper’s payout ratio is presently 61.27%.

Hedge Funds Weigh In On Southern Copper

A number of institutional investors and hedge funds have recently modified their holdings of SCCO. Generali Investments CEE investicni spolecnost a.s. raised its position in Southern Copper by 0.7% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company’s stock worth $1,409,000 after acquiring an additional 108 shares during the period. Larson Financial Group LLC lifted its holdings in Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 114 shares in the last quarter. Cadence Wealth Management LLC lifted its stake in Southern Copper by 4.1% in the 4th quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company’s stock worth $266,000 after purchasing an additional 116 shares in the last quarter. Tyche Wealth Partners LLC increased its stake in Southern Copper by 0.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock worth $1,805,000 after acquiring an additional 122 shares during the last quarter. Finally, Yousif Capital Management LLC increased its position in Southern Copper by 0.9% in the fourth quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock worth $1,311,000 after purchasing an additional 122 shares during the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

About Southern Copper

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.