Southern Copper (NYSE:SCCO) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Southern Copper (NYSE:SCCOFree Report) from a buy rating to a hold rating in a report released on Monday.

Separately, Morgan Stanley cut shares of Southern Copper from an equal weight rating to an underweight rating and cut their target price for the stock from $83.00 to $68.00 in a report on Monday, November 27th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of Reduce and an average price target of $64.50.

Read Our Latest Stock Analysis on Southern Copper

Southern Copper Stock Down 0.2 %

Shares of Southern Copper stock opened at $82.03 on Monday. The business has a 50-day moving average price of $81.56 and a 200 day moving average price of $78.39. Southern Copper has a fifty-two week low of $64.66 and a fifty-two week high of $88.40. The firm has a market cap of $63.42 billion, a P/E ratio of 21.99 and a beta of 1.29. The company has a quick ratio of 2.94, a current ratio of 3.70 and a debt-to-equity ratio of 0.80.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Tuesday, February 13th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 12th. This represents a $3.20 annualized dividend and a dividend yield of 3.90%. Southern Copper’s dividend payout ratio (DPR) is presently 107.24%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its position in shares of Southern Copper by 1.2% in the second quarter. Signaturefd LLC now owns 10,225 shares of the basic materials company’s stock valued at $734,000 after purchasing an additional 123 shares during the period. Janiczek Wealth Management LLC grew its stake in shares of Southern Copper by 11.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 127 shares during the last quarter. CWM LLC boosted its holdings in Southern Copper by 3.3% in the 4th quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 137 shares during the period. First National Trust Co lifted its position in shares of Southern Copper by 0.4% in the 4th quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock worth $3,196,000 after acquiring an additional 150 shares during the period. Finally, DAVENPORT & Co LLC lifted its position in Southern Copper by 5.7% in the second quarter. DAVENPORT & Co LLC now owns 2,872 shares of the basic materials company’s stock worth $206,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 7.40% of the company’s stock.

Southern Copper Company Profile

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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, copper, molybdenum, silver, gold, and lead.

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Analyst Recommendations for Southern Copper (NYSE:SCCO)

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