Southern Copper (NYSE:SCCO) PT Lowered to $54.00 at Scotiabank

Southern Copper (NYSE:SCCO) had its price objective decreased by Scotiabank from $55.00 to $54.00 in a research report released on Tuesday morning, Benzinga reports. Scotiabank currently has a sector underperform rating on the basic materials company’s stock.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley increased their price target on shares of Southern Copper from $123.00 to $135.00 and gave the stock an underweight rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. reduced their target price on Southern Copper from $63.50 to $61.00 and set an underweight rating on the stock in a report on Thursday, March 21st. StockNews.com upgraded Southern Copper from a hold rating to a buy rating in a research note on Wednesday, May 15th. Jefferies Financial Group raised Southern Copper from a hold rating to a buy rating and lifted their price objective for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. Finally, HSBC cut Southern Copper from a hold rating to a reduce rating and set a $80.00 target price for the company. in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Southern Copper currently has a consensus rating of Hold and an average price target of $90.33.

Southern Copper Stock Performance

Southern Copper stock opened at $116.63 on Tuesday. The stock has a fifty day moving average price of $113.17 and a 200 day moving average price of $91.78. Southern Copper has a 52 week low of $64.66 and a 52 week high of $129.79. The firm has a market capitalization of $91.11 billion, a P/E ratio of 38.76, a PEG ratio of 1.48 and a beta of 1.27. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. Equities research analysts anticipate that Southern Copper will post 3.97 earnings per share for the current year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Southern Copper’s payout ratio is currently 1.33%.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the sale, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 600 shares of company stock valued at $63,430. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fortis Group Advisors LLC grew its holdings in Southern Copper by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 151 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Southern Copper in the first quarter worth about $26,000. Riverview Trust Co bought a new stake in Southern Copper in the first quarter valued at about $27,000. Viking Fund Management LLC acquired a new stake in Southern Copper during the fourth quarter valued at approximately $31,000. Finally, Venturi Wealth Management LLC lifted its holdings in Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

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