Southern Copper Co. (NYSE:SCCO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Southern Copper Co. (NYSE:SCCOGet Rating) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $61.30.

Several analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Southern Copper from $58.00 to $62.00 in a research report on Thursday, April 21st. Morgan Stanley downgraded shares of Southern Copper from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $55.00 to $63.00 in a research report on Wednesday, March 23rd. Finally, StockNews.com downgraded shares of Southern Copper from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 10th.

In other Southern Copper news, Chairman German Larrea Mota Velasco sold 200,000 shares of the business’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $74.94, for a total transaction of $14,988,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Southern Copper in the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $26,000. Loomis Sayles & Co. L P bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $29,000. Sawyer & Company Inc bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $43,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $46,000. Institutional investors own 6.83% of the company’s stock.

NYSE SCCO opened at $63.44 on Monday. Southern Copper has a one year low of $53.36 and a one year high of $79.32. The company has a 50-day simple moving average of $65.82 and a 200-day simple moving average of $65.59. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.75 and a current ratio of 3.34. The firm has a market capitalization of $49.04 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12.

Southern Copper (NYSE:SCCOGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.68 billion. Southern Copper had a net margin of 30.61% and a return on equity of 42.00%. Equities analysts forecast that Southern Copper will post 4.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 17th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 7.88%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Monday, May 16th. Southern Copper’s payout ratio is 112.87%.

About Southern Copper (Get Rating)

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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