Southern Copper Co. (NYSE:SCCO) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Southern Copper Co. (NYSE:SCCO) have received a consensus rating of “Reduce” from the nine brokerages that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $94.56.

Several research analysts have recently commented on SCCO shares. Morgan Stanley boosted their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Scotiabank decreased their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research note on Monday, December 2nd. Finally, Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd.

Southern Copper Trading Down 2.9 %

SCCO opened at $102.51 on Wednesday. The firm has a market cap of $80.53 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.56 and a beta of 1.14. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper has a 12 month low of $73.18 and a 12 month high of $129.79. The stock has a fifty day moving average price of $108.55 and a 200-day moving average price of $107.40.

Southern Copper Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were paid a $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s payout ratio is 72.16%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised its stake in shares of Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Southern Copper during the second quarter worth about $31,000. McClarren Financial Advisors Inc. grew its holdings in Southern Copper by 169.2% during the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 181 shares during the period. Oakworth Capital Inc. acquired a new stake in Southern Copper during the third quarter worth about $42,000. Finally, Prospera Private Wealth LLC acquired a new stake in Southern Copper during the third quarter worth about $47,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

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, copper, molybdenum, silver, gold, and lead.