Scotiabank Predicts Southern Copper FY2024 Earnings

Southern Copper Co. (NYSE:SCCO) – Stock analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Southern Copper in a report issued on Wednesday, January 8th. Scotiabank analyst A. Salazar forecasts that the basic materials company will post earnings per share of $4.48 for the year. Scotiabank has a “Sector Underperform” rating and a $52.00 price target on the stock. The consensus estimate for Southern Copper’s current full-year earnings is $4.45 per share. Scotiabank also issued estimates for Southern Copper’s FY2025 earnings at $4.71 EPS.

Several other analysts also recently commented on SCCO. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a research report on Monday, December 2nd. Citigroup increased their price target on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Southern Copper has a consensus rating of “Hold” and a consensus price target of $94.81.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $94.73 on Monday. The business has a fifty day moving average price of $98.92 and a 200-day moving average price of $104.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The company has a market capitalization of $74.41 billion, a PE ratio of 24.39, a PEG ratio of 1.56 and a beta of 1.14. Southern Copper has a 1-year low of $77.14 and a 1-year high of $129.79.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SCCO. JPMorgan Chase & Co. grew its position in shares of Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after acquiring an additional 599,610 shares during the period. Itau Unibanco Holding S.A. grew its holdings in Southern Copper by 115,910.7% during the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after purchasing an additional 336,141 shares during the period. Fisher Asset Management LLC increased its position in Southern Copper by 10.6% in the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after buying an additional 283,562 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Southern Copper by 11,510.5% in the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after buying an additional 188,082 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Southern Copper by 1,601.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after buying an additional 181,252 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Dividend Announcement

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

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.