Southern Copper Co. (NYSE:SCCO) Receives $53.19 Average PT from Brokerages

Shares of Southern Copper Co. (NYSE:SCCO) have been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $53.19.

SCCO has been the subject of a number of research reports. Citigroup raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Tuesday, February 16th. UBS Group lifted their target price on shares of Southern Copper from $60.00 to $65.00 and gave the stock a “sell” rating in a report on Monday, April 26th. Finally, Zacks Investment Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating and set a $76.00 target price for the company in a report on Friday, March 26th.

In other news, Director Bonilla Luis Miguel Palomino sold 3,000 shares of Southern Copper stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $68.72, for a total transaction of $206,160.00. Following the transaction, the director now directly owns 6,414 shares of the company’s stock, valued at $440,770.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Andreve Vicente Ariztegui sold 1,100 shares of Southern Copper stock in a transaction on Thursday, May 13th. The stock was sold at an average price of $80.13, for a total transaction of $88,143.00. Following the transaction, the director now directly owns 4,600 shares in the company, valued at $368,598. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,100 shares of company stock worth $366,533. Insiders own 0.23% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in Southern Copper by 548.8% during the 1st quarter. FMR LLC now owns 44,085 shares of the basic materials company’s stock worth $1,749,000 after buying an additional 37,290 shares in the last quarter. Comerica Bank lifted its position in Southern Copper by 3.5% during the 4th quarter. Comerica Bank now owns 46,348 shares of the basic materials company’s stock worth $3,292,000 after buying an additional 1,567 shares in the last quarter. Whittier Trust Co. increased its stake in shares of Southern Copper by 83.7% during the 4th quarter. Whittier Trust Co. now owns 768 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 350 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Southern Copper by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 40,112 shares of the basic materials company’s stock worth $2,612,000 after purchasing an additional 332 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Southern Copper by 27.8% during the 4th quarter. First Trust Advisors LP now owns 60,356 shares of the basic materials company’s stock worth $3,930,000 after purchasing an additional 13,139 shares during the last quarter. 7.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of Southern Copper stock opened at $66.98 on Tuesday. The company has a current ratio of 3.66, a quick ratio of 3.02 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $51.78 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 0.83 and a beta of 1.10. The firm has a 50 day moving average of $71.98. Southern Copper has a fifty-two week low of $35.45 and a fifty-two week high of $83.29.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Saturday, May 1st. The basic materials company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $2.53 billion during the quarter. Southern Copper had a net margin of 24.09% and a return on equity of 29.44%. Equities analysts anticipate that Southern Copper will post 4.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 25th. Stockholders of record on Tuesday, May 11th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.18%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, May 10th. Southern Copper’s dividend payout ratio (DPR) is currently 137.93%.

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 and lead.

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Analyst Recommendations for Southern Copper (NYSE:SCCO)

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