Southern Copper Co. (NYSE:SCCO) Given Consensus Rating of “Hold” by Analysts

Southern Copper Co. (NYSE:SCCO) has been given an average recommendation of “Hold” by the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $38.57.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Southern Copper from a “strong-buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Tuesday, September 22nd. Morgan Stanley cut Southern Copper from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $37.00 to $38.00 in a research note on Tuesday, August 4th.

In other news, Director Bonilla Luis Miguel Palomino sold 1,400 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $45.10, for a total transaction of $63,140.00. Following the completion of the transaction, the director now directly owns 9,014 shares of the company’s stock, valued at approximately $406,531.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SCCO. Balentine LLC boosted its position in shares of Southern Copper by 157.9% during the 2nd quarter. Balentine LLC now owns 673 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 412 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Southern Copper in the 2nd quarter valued at about $29,000. Carroll Financial Associates Inc. purchased a new stake in shares of Southern Copper in the 3rd quarter valued at about $30,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Southern Copper by 49.7% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 907 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 301 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Southern Copper in the 3rd quarter valued at about $64,000. 6.94% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE SCCO traded down $0.82 during trading on Monday, reaching $51.13. The stock had a trading volume of 19,643 shares, compared to its average volume of 855,315. Southern Copper has a fifty-two week low of $23.43 and a fifty-two week high of $52.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.23 and a current ratio of 4.33. The business’s 50-day moving average price is $46.67 and its 200-day moving average price is $40.08. The company has a market cap of $40.16 billion, a P/E ratio of 33.97, a PEG ratio of 1.98 and a beta of 1.16.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.07. Southern Copper had a return on equity of 17.10% and a net margin of 16.20%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Analysts forecast that Southern Copper will post 1.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Wednesday, November 11th will be given a dividend of $0.50 per share. This is a boost from Southern Copper’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Monday, November 9th. Southern Copper’s dividend payout ratio is currently 83.33%.

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 and lead.

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Analyst Recommendations for Southern Copper (NYSE:SCCO)

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