Brokerages Set Southern Copper Co. (NYSE:SCCO) Target Price at $94.81

Shares of Southern Copper Co. (NYSE:SCCO) have received a consensus recommendation of “Reduce” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $94.81.

A number of equities analysts have recently weighed in on SCCO shares. Citigroup boosted their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research note on Monday, December 2nd. Finally, Scotiabank reduced their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th.

Southern Copper Stock Down 0.3 %

Southern Copper stock opened at $91.13 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock has a market cap of $71.59 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. Southern Copper has a fifty-two week low of $77.14 and a fifty-two week high of $129.79. The firm’s 50-day simple moving average is $102.38 and its 200 day simple moving average is $105.43.

Southern Copper Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is presently 72.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SCCO. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Southern Copper by 7.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock worth $26,661,000 after acquiring an additional 15,386 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Southern Copper by 384.4% during the 3rd quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock valued at $10,430,000 after purchasing an additional 71,558 shares during the period. Morse Asset Management Inc purchased a new stake in Southern Copper during the 3rd quarter worth about $1,397,000. Gateway Advisory LLC purchased a new stake in Southern Copper during the 2nd quarter worth about $625,000. Finally, BNP Paribas Financial Markets boosted its stake in Southern Copper by 1,601.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after purchasing an additional 181,252 shares during the period. 7.94% of the stock is owned by 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.