Southern Copper (NYSE:SCCO) Price Target Increased to $55.00 by Analysts at Scotiabank

Southern Copper (NYSE:SCCO) had its price target hoisted by Scotiabank from $53.00 to $55.00 in a research report report published on Thursday, Benzinga reports. Scotiabank currently has a sector underperform rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Southern Copper from a buy rating to a hold rating in a research report on Monday, February 5th. JPMorgan Chase & Co. dropped their price objective on Southern Copper from $63.50 to $61.00 and set an underweight rating for the company in a report on Thursday, March 21st. Jefferies Financial Group upgraded Southern Copper from a hold rating to a buy rating and lifted their target price for the company from $91.00 to $130.00 in a report on Friday, March 22nd. Finally, The Goldman Sachs Group upped their price target on Southern Copper from $61.00 to $82.00 and gave the stock a sell rating in a research note on Friday, March 22nd. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $73.71.

Southern Copper Stock Up 1.0 %

Shares of NYSE SCCO opened at $115.36 on Thursday. The stock has a market capitalization of $89.19 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 3.32 and a beta of 1.29. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average price of $96.06 and a 200 day moving average price of $83.94. Southern Copper has a 52 week low of $64.66 and a 52 week high of $120.37.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. Equities research analysts anticipate that Southern Copper will post 3.89 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a yield of 2.77%. Southern Copper’s dividend payout ratio (DPR) is presently 101.91%.

Hedge Funds Weigh In On Southern Copper

A number of institutional investors have recently made changes to their positions in the business. Wahed Invest LLC raised its holdings in Southern Copper by 9.0% in the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock valued at $125,000 after acquiring an additional 120 shares in the last quarter. Janiczek Wealth Management LLC raised its stake in shares of Southern Copper by 11.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 127 shares in the last quarter. CWM LLC lifted its position in shares of Southern Copper by 3.3% during the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 137 shares during the last quarter. First National Trust Co grew its stake in Southern Copper by 0.4% in the fourth quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock worth $3,196,000 after purchasing an additional 150 shares in the last quarter. Finally, Fortis Group Advisors LLC increased its holdings in Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after buying an additional 151 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Company Profile

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.