Southern Copper Corporation (NYSE:SCCO) Given Average Rating of “Hold” by Analysts

Shares of Southern Copper Corporation (NYSE:SCCO) have received a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $117.9444.

SCCO has been the subject of several recent analyst reports. HSBC reiterated a “hold” rating and issued a $118.00 target price (up from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. Morgan Stanley set a $132.00 price objective on Southern Copper and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. UBS Group reiterated a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $115.00 price target (up previously from $89.00) on shares of Southern Copper in a report on Wednesday, October 29th.

Southern Copper Price Performance

Shares of SCCO opened at $123.89 on Wednesday. The company has a market cap of $100.62 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.29 and a beta of 1.08. Southern Copper has a 1-year low of $74.84 and a 1-year high of $144.81. The company’s fifty day simple moving average is $126.08 and its 200 day simple moving average is $106.79. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 39.62%. The firm had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.05 billion. On average, research analysts forecast that Southern Copper will post 4.66 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, November 12th. This represents a $3.60 annualized dividend and a yield of 2.9%. Southern Copper’s dividend payout ratio (DPR) is 75.47%.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $139.35, for a total value of $27,870.00. Following the completion of the sale, the director directly owned 1,713 shares in the company, valued at $238,706.55. The trade was a 10.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 962 shares of company stock worth $118,232. Company insiders own 0.07% of the company’s stock.

Institutional Trading of Southern Copper

Several hedge funds and other institutional investors have recently bought and sold shares of SCCO. MJT & Associates Financial Advisory Group Inc. grew its position in Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 84 shares in the last quarter. Covestor Ltd boosted its stake in shares of Southern Copper by 30.4% in the 3rd quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock worth $44,000 after buying an additional 84 shares during the last quarter. Avanza Fonder AB grew its holdings in shares of Southern Copper by 1.0% in the third quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company’s stock valued at $1,051,000 after acquiring an additional 86 shares in the last quarter. Redwood Wealth Management Group LLC grew its holdings in shares of Southern Copper by 1.5% in the third quarter. Redwood Wealth Management Group LLC now owns 5,999 shares of the basic materials company’s stock valued at $728,000 after acquiring an additional 89 shares in the last quarter. Finally, Powell Investment Advisors LLC increased its position in shares of Southern Copper by 1.0% during the third quarter. Powell Investment Advisors LLC now owns 9,637 shares of the basic materials company’s stock valued at $1,170,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

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.