Southern Copper (NYSE:SCCO) Price Target Cut to $52.00 by Analysts at Morgan Stanley

Southern Copper (NYSE:SCCOGet Rating) had its price target reduced by Morgan Stanley from $66.00 to $52.00 in a research report sent to investors on Wednesday, The Fly reports.

SCCO has been the topic of a number of other research reports. Barclays cut their price target on shares of Southern Copper from $62.00 to $61.00 and set an equal weight rating on the stock in a report on Wednesday, June 8th. StockNews.com lowered shares of Southern Copper from a strong-buy rating to a buy rating in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of Hold and an average price target of $60.88.

Shares of NYSE:SCCO opened at $52.85 on Wednesday. The stock has a market cap of $40.86 billion, a PE ratio of 11.93, a PEG ratio of 1.62 and a beta of 1.12. The company’s fifty day moving average is $61.50 and its 200 day moving average is $65.52. Southern Copper has a 52 week low of $52.52 and a 52 week high of $79.32. The company has a quick ratio of 2.75, a current ratio of 3.34 and a debt-to-equity ratio of 0.76.

Southern Copper (NYSE:SCCOGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $2.76 billion for 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%. Sell-side analysts anticipate that Southern Copper will post 4.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Tuesday, May 17th were given a dividend of $1.25 per share. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. This represents a $5.00 dividend on an annualized basis and a yield of 9.46%. The ex-dividend date was Monday, May 16th. Southern Copper’s dividend payout ratio (DPR) is 112.87%.

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Southern Copper by 57.8% in the first quarter. Bank of America Corp DE now owns 1,038,124 shares of the basic materials company’s stock worth $78,793,000 after buying an additional 380,161 shares during the last quarter. Walleye Capital LLC purchased a new position in Southern Copper in the first quarter worth about $1,524,000. Genesee Capital Advisors LLC purchased a new position in Southern Copper in the first quarter worth about $1,018,000. Advisory Services Network LLC raised its holdings in Southern Copper by 5.0% in the first quarter. Advisory Services Network LLC now owns 5,144 shares of the basic materials company’s stock worth $390,000 after buying an additional 243 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in Southern Copper by 15.5% in the first quarter. Orion Portfolio Solutions LLC now owns 5,050 shares of the basic materials company’s stock worth $383,000 after buying an additional 678 shares during the last quarter. 6.83% of the stock is owned by institutional investors and hedge funds.

Southern Copper Company Profile (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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