Southern Copper Corporation (NYSE:SCCO) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Southern Copper Corporation (NYSE:SCCO) have received a consensus rating of “Reduce” from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $146.8402.

Several analysts recently weighed in on the company. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Barclays set a $164.03 target price on shares of Southern Copper and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Scotiabank restated an “underperform” rating and issued a $138.34 price target (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. UBS Group reaffirmed a “sell” rating and issued a $158.10 price target (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. Finally, Citigroup reiterated a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the sale, the director owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 509 shares of company stock worth $97,753 in the last ninety days. 0.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SCCO. Bell Investment Advisors Inc bought a new stake in Southern Copper during the second quarter valued at about $26,000. Rakuten Securities Inc. purchased a new position in Southern Copper in the second quarter valued at about $28,000. SHP Wealth Management bought a new position in Southern Copper in the fourth quarter worth about $25,000. Lloyd Advisory Services LLC. bought a new position in Southern Copper in the fourth quarter worth about $29,000. Finally, Virtus Advisers LLC purchased a new stake in shares of Southern Copper during the fourth quarter valued at about $29,000. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Up 2.5%

SCCO opened at $199.45 on Friday. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $181.66 and its two-hundred day moving average is $182.97. The company has a market capitalization of $166.41 billion, a P/E ratio of 29.16, a PEG ratio of 1.67 and a beta of 1.11. Southern Copper has a 52 week low of $92.57 and a 52 week high of $223.88.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. Analysts forecast that Southern Copper will post 7.61 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, August 11th. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

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.