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

Southern Copper Corporation (NYSE:SCCO) has been given an average rating of “Reduce” by the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $146.8402.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Southern Copper from $125.49 to $129.94 and gave the stock an “underweight” rating in a report on Wednesday, June 17th. Barclays set a $164.03 price objective on shares of Southern Copper and gave the company an “underweight” rating in a report on Thursday, July 23rd. Morgan Stanley boosted their target price on shares of Southern Copper from $144.27 to $156.13 and gave the stock an “underweight” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st.

Southern Copper Trading Up 2.5%

Shares of SCCO stock opened at $199.45 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The stock has a fifty day simple moving average of $181.66 and a two-hundred day simple moving average of $182.97. The firm has a market capitalization of $166.41 billion, a PE 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 announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.37 billion. The firm’s revenue was up 40.6% compared to the same quarter last year. On average, analysts predict that Southern Copper will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed 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 a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Southern Copper’s payout ratio is currently 64.33%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the transaction, the director owned 1,723 shares in the company, valued at $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 509 shares of company stock worth $97,753. 0.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Southern Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in shares of Southern Copper by 21.2% during the first quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock valued at $33,126,000 after purchasing an additional 33,638 shares during the period. RFG Advisory LLC purchased a new position in Southern Copper in the 4th quarter worth about $1,147,000. US Bancorp DE lifted its holdings in Southern Copper by 16.2% during the 4th quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock valued at $10,687,000 after buying an additional 10,360 shares in the last quarter. Ashoka WhiteOak Capital Pte Ltd purchased a new stake in Southern Copper in the 4th quarter valued at about $5,460,000. Finally, Precision Wealth Strategies LLC purchased a new stake in Southern Copper in the 1st quarter valued at about $2,769,000. 7.94% of the stock is owned by institutional investors.

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.