Southern Copper Corporation (NYSE:SCCO) Receives Consensus Rating of “Reduce” from Analysts

Southern Copper Corporation (NYSE:SCCO) has received a consensus rating of “Reduce” from the fourteen ratings firms that are covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $145.1439.

Several equities research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research note on Friday, March 27th. Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Scotiabank reaffirmed an “underperform” rating and issued a $135.00 target price (up from $133.00) on shares of Southern Copper in a research report on Friday, May 15th. Bank of America downgraded Southern Copper from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $173.41 on Friday. The firm has a market capitalization of $142.04 billion, a PE ratio of 28.66, a P/E/G ratio of 1.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The business has a 50-day moving average of $182.30 and a two-hundred day moving average of $173.32. Southern Copper has a 12 month low of $88.73 and a 12 month high of $223.88.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.88 by $0.04. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. As a group, research analysts forecast that Southern Copper will post 7.25 earnings per share for the current year.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio is presently 66.12%.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 604 shares of company stock valued at $109,136 over the last ninety days. 0.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Southern Copper

Several institutional investors and hedge funds have recently modified their holdings of SCCO. Hopwood Financial Services Inc. purchased a new stake in shares of Southern Copper in the third quarter worth about $25,000. SHP Wealth Management purchased a new stake in shares of Southern Copper in the fourth quarter worth about $25,000. Lloyd Advisory Services LLC. purchased a new position in Southern Copper in the fourth quarter valued at about $29,000. Virtus Advisers LLC purchased a new position in Southern Copper in the fourth quarter valued at about $29,000. Finally, Caitlin John LLC purchased a new position in Southern Copper in the third quarter valued at about $30,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

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.