Southern Copper Co. (NYSE:SCCO) Receives $89.57 Consensus Price Target from Brokerages

Shares of Southern Copper Co. (NYSE:SCCO) have received an average recommendation of “Reduce” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $89.57.

Several equities analysts have issued reports on SCCO shares. UBS Group began coverage on shares of Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Morgan Stanley boosted their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday.

Southern Copper Stock Performance

NYSE SCCO opened at $103.60 on Friday. The business’s 50-day moving average price is $101.92 and its 200 day moving average price is $107.99. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The firm has a market cap of $80.93 billion, a P/E ratio of 34.43, a P/E/G ratio of 1.02 and a beta of 1.17. Southern Copper has a 52-week low of $68.93 and a 52-week high of $129.79.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. On average, equities research analysts expect that Southern Copper will post 4.33 earnings per share for the current year.

Southern Copper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.32%. Southern Copper’s dividend payout ratio is presently 79.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SCCO. Charles Schwab Investment Management Inc. increased its position in shares of Southern Copper by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,664 shares of the basic materials company’s stock valued at $19,509,000 after buying an additional 5,521 shares in the last quarter. Norges Bank purchased a new position in Southern Copper during the 4th quarter valued at about $71,802,000. Wells Fargo & Company MN raised its position in Southern Copper by 21.9% during the fourth quarter. Wells Fargo & Company MN now owns 179,082 shares of the basic materials company’s stock worth $15,414,000 after acquiring an additional 32,120 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Southern Copper by 5.6% in the fourth quarter. D.A. Davidson & CO. now owns 3,664 shares of the basic materials company’s stock valued at $315,000 after purchasing an additional 195 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Southern Copper by 149.6% in the fourth quarter. Corient Private Wealth LLC now owns 50,057 shares of the basic materials company’s stock valued at $4,308,000 after purchasing an additional 29,999 shares in the last quarter. 7.94% of the stock is 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.