Southern Copper (NYSE:SCCO) Upgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Southern Copper (NYSE:SCCO) from an underweight rating to a neutral rating in a research report released on Monday morning, MarketBeat reports. They currently have $92.50 target price on the basic materials company’s stock.

A number of other research analysts have also recently weighed in on SCCO. Morgan Stanley lifted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Scotiabank lowered their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Citigroup lifted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Southern Copper has a consensus rating of “Hold” and an average price target of $94.56.

Southern Copper Trading Down 0.1 %

Shares of SCCO stock opened at $101.22 on Monday. Southern Copper has a 1 year low of $70.92 and a 1 year high of $129.79. The firm has a fifty day moving average price of $109.52 and a 200-day moving average price of $107.93. 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 cap of $79.51 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.55 and a beta of 1.14.

Southern Copper Dividend Announcement

The business also recently declared a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were paid a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s payout ratio is currently 72.09%.

Institutional Trading of Southern Copper

Hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its stake in Southern Copper by 395.1% in the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after purchasing an additional 30,966 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Southern Copper by 7.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock worth $26,661,000 after buying an additional 15,386 shares during the last quarter. Gateway Advisory LLC bought a new stake in shares of Southern Copper in the 2nd quarter worth about $625,000. BNP Paribas Financial Markets increased its holdings in shares of 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 buying an additional 181,252 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Southern Copper in the 3rd quarter worth about $2,289,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Company Profile

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.