Analysts Set Southern Copper Corporation (NYSE:SCCO) Price Target at $146.84

Southern Copper Corporation (NYSE:SCCO) has been given an average recommendation of “Reduce” by the fifteen research firms that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $146.8402.

A number of brokerages have recently issued reports on SCCO. CICC Research cut shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Barclays set a $164.03 price target on shares of Southern Copper and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Zacks Research lowered shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Scotiabank reaffirmed an “underperform” rating and set a $138.34 price objective (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Finally, UBS Group reaffirmed a “sell” rating and set a $158.10 price objective (up from $143.28) on shares of Southern Copper in a research note on Tuesday, June 30th.

Insider Buying and Selling

In other Southern Copper news, Director Luis Palomino Bonilla sold 202 shares of Southern Copper stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director directly owned 1,723 shares of the company’s stock, valued at $339,066.65. The trade was a 10.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 604 shares of company stock valued at $118,077. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SCCO. Talon Private Wealth LLC bought a new stake in Southern Copper in the 2nd quarter worth $225,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Southern Copper by 3.4% during the second quarter. Sequoia Financial Advisors LLC now owns 11,877 shares of the basic materials company’s stock worth $2,070,000 after purchasing an additional 387 shares during the period. Engineers Gate Manager LP grew its stake in shares of Southern Copper by 253.1% in the second quarter. Engineers Gate Manager LP now owns 5,190 shares of the basic materials company’s stock worth $904,000 after purchasing an additional 3,720 shares during the last quarter. Plimoth Trust Co. LLC increased its stake in shares of Southern Copper by 0.8% during the second quarter. Plimoth Trust Co. LLC now owns 6,218 shares of the basic materials company’s stock valued at $1,084,000 after buying an additional 48 shares during the period. Finally, NorthRock Partners LLC purchased a new position in Southern Copper during the 2nd quarter valued at $318,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

NYSE:SCCO opened at $197.91 on Tuesday. The business has a 50 day moving average of $193.30 and a 200 day moving average of $183.39. The company has a market capitalization of $165.12 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 1.75 and a beta of 1.14. Southern Copper has a 1-year low of $109.59 and a 1-year high of $223.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm’s revenue was up 40.6% compared to the same quarter last year. On average, sell-side analysts predict that Southern Copper will post 7.83 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were issued a dividend of $1.10 per share. The ex-dividend date was Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.2%. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

Southern Copper Company Profile

Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.

Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.