Southern Copper Co. (NYSE:SCCO) Receives Average Rating of “Reduce” from Brokerages

Southern Copper Co. (NYSE:SCCO) has earned a consensus rating of “Reduce” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $89.57.

SCCO has been the subject of a number of analyst reports. UBS Group began coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective for the company. Morgan Stanley raised their price target on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th.

Institutional Trading of Southern Copper

A number of large investors have recently made changes to their positions in the stock. Ensign Peak Advisors Inc boosted its holdings in Southern Copper by 1.0% in the second quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 108 shares during the last quarter. Prudential PLC boosted its stake in shares of Southern Copper by 1.0% in the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after buying an additional 109 shares during the last quarter. American Financial Advisors LLC boosted its stake in shares of Southern Copper by 1.0% in the 2nd quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock worth $1,262,000 after buying an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Southern Copper by 0.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock worth $2,557,000 after acquiring an additional 118 shares during the period. Finally, Wahed Invest LLC increased its position in Southern Copper by 9.0% during the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock valued at $125,000 after acquiring an additional 120 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Up 7.2 %

NYSE:SCCO opened at $113.68 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. The firm’s 50-day moving average price is $101.83 and its 200-day moving average price is $108.33. The company has a market capitalization of $88.80 billion, a PE ratio of 37.77, a P/E/G ratio of 1.02 and a beta of 1.17. Southern Copper has a 1-year low of $68.93 and a 1-year high of $129.79.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $2.96 billion. On average, equities analysts predict that Southern Copper will post 4.33 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.11%. Southern Copper’s payout ratio is 79.73%.

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.