Southern Copper Corporation (NYSE:SCCO) Stock Has Average Price Target of $159.26

Shares of Southern Copper Corporation (NYSE:SCCO) have earned a consensus recommendation of “Reduce” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $159.47.

Several research analysts recently weighed in on the company. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley reiterated an “underweight” rating and issued a $168.22 price target on shares of Southern Copper in a research note on Wednesday, October 7th. CICC Research downgraded Southern Copper to a “market perform” rating in a report on Sunday, July 26th. UBS Group raised Southern Copper from a “sell” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday. Finally, Weiss Ratings lowered Southern Copper from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 30th.

Southern Copper Price Performance

Shares of SCCO opened at $169.97 on Wednesday. The company has a 50 day moving average of $193.22 and a two-hundred day moving average of $185.42. The company has a quick ratio of 3.93, a current ratio of 4.31 and a debt-to-equity ratio of 0.59. Southern Copper has a twelve month low of $119.25 and a twelve month high of $223.88. The company has a market cap of $143.51 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.62 and a beta of 1.15.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, October 21st. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.12. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. The business had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the firm posted $1.34 earnings per share. As a group, analysts predict that Southern Copper will post 8.01 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is an increase from Southern Copper’s previous quarterly dividend of $1.10. Southern Copper’s payout ratio is 68.06%.

Institutional Trading of Southern Copper

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Southern Copper during the 2nd quarter valued at about $1,729,500,000. Bank of America Corp DE purchased a new stake in Southern Copper in the 2nd quarter worth $318,448,000. Legal & General Group Plc purchased a new position in Southern Copper in the 2nd quarter valued at about $149,739,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Southern Copper in the first quarter worth approximately $85,342,000. Finally, Deutsche Bank AG purchased a new stake in shares of Southern Copper during the second quarter worth $85,770,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

About Southern Copper

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products. The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.