Southern Copper (NYSE:SCCO) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Southern Copper (NYSE:SCCO) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

SCCO has been the subject of a number of other reports. Scotiabank reiterated an “underperform” rating on shares of Southern Copper in a report on Tuesday, January 27th. Morgan Stanley restated an “underweight” rating and issued a $154.69 target price on shares of Southern Copper in a report on Friday, January 30th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $116.51 price objective (down from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. Citigroup reiterated a “sell” rating on shares of Southern Copper in a research note on Monday, January 12th. Finally, Itau BBA Securities cut Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 target price on the stock. in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, Southern Copper has an average rating of “Reduce” and an average price target of $139.99.

Southern Copper Stock Down 4.6%

NYSE:SCCO opened at $152.41 on Friday. The firm’s 50 day simple moving average is $191.39 and its 200 day simple moving average is $151.68. The company has a market cap of $123.78 billion, a PE ratio of 28.65, a P/E/G ratio of 1.58 and a beta of 1.03. Southern Copper has a one year low of $74.84 and a one year high of $223.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.89 and a quick ratio of 3.40.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, research analysts anticipate that Southern Copper will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were given a dividend of $1.00 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, February 10th. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. Southern Copper’s dividend payout ratio is 75.19%.

Insider Transactions at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 193 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the completion of the sale, the director owned 1,707 shares of the company’s stock, valued at approximately $298,042.20. The trade was a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the sale, the director owned 605 shares of the company’s stock, valued at $126,783.04. The trade was a 93.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,526 shares of company stock valued at $1,989,373 over the last quarter. Company insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SCCO. Purpose Unlimited Inc. purchased a new position in shares of Southern Copper in the 4th quarter valued at approximately $76,000. Rockefeller Capital Management L.P. grew its position in Southern Copper by 1.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 57,077 shares of the basic materials company’s stock valued at $8,189,000 after purchasing an additional 702 shares during the last quarter. Fund Advisors of America Inc FL bought a new position in shares of Southern Copper in the fourth quarter worth approximately $692,000. World Investment Advisors purchased a new position in Southern Copper in the 4th quarter worth approximately $413,000. Finally, Larry Mathis Financial Planning LLC bought a new position in Southern Copper in the 4th quarter valued at approximately $535,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.