Southern Copper Corporation (NYSE:SCCO) Receives $123.85 Average Price Target from Analysts

Southern Copper Corporation (NYSE:SCCO) has been assigned an average rating of “Reduce” from the thirteen research firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $123.85.

Several research firms have issued reports on SCCO. UBS Group reissued a “neutral” rating and set a $143.00 target price (up previously from $135.00) on shares of Southern Copper in a research note on Friday, December 12th. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Itau BBA Securities cut shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 target price on the stock. in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research note on Monday, December 29th. Finally, Jefferies Financial Group set a $155.00 price objective on shares of Southern Copper and gave the stock a “buy” rating in a report on Monday, October 6th.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total value of $55,600.00. Following the sale, the director owned 1,265 shares in the company, valued at approximately $175,835. The trade was a 24.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 948 shares of company stock valued at $131,130 over the last ninety days. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Southern Copper

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Southern Copper by 42.1% during the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after purchasing an additional 13,293 shares in the last quarter. AQR Capital Management LLC increased its stake in Southern Copper by 1.4% during the 1st quarter. AQR Capital Management LLC now owns 81,716 shares of the basic materials company’s stock worth $7,637,000 after buying an additional 1,155 shares during the period. Fred Alger Management LLC lifted its holdings in Southern Copper by 4.8% during the 1st quarter. Fred Alger Management LLC now owns 44,531 shares of the basic materials company’s stock worth $4,162,000 after buying an additional 2,020 shares in the last quarter. Arete Wealth Advisors LLC purchased a new position in Southern Copper in the 1st quarter valued at approximately $277,000. Finally, Empowered Funds LLC grew its stake in shares of Southern Copper by 17.9% in the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock worth $627,000 after acquiring an additional 1,020 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

Shares of SCCO stock opened at $170.55 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91. The company has a market capitalization of $138.52 billion, a PE ratio of 35.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.06. The firm’s 50-day moving average is $140.40 and its two-hundred day moving average is $119.82. Southern Copper has a 12 month low of $74.84 and a 12 month high of $171.08.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. Analysts predict that Southern Copper will post 4.66 earnings per share for the current year.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 12th. Southern Copper’s dividend payout ratio (DPR) is currently 75.47%.

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.