Southern Copper Co. (NYSE:SCCO) Given Consensus Rating of “Reduce” by Analysts

Southern Copper Co. (NYSE:SCCO) has been given a consensus rating of “Reduce” by the nine brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $94.56.

A number of equities research analysts recently weighed in on SCCO shares. Citigroup lifted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a research note on Monday, December 2nd. Finally, Scotiabank cut their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th.

Southern Copper Stock Down 1.1 %

Shares of Southern Copper stock opened at $100.00 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper has a 1-year low of $70.92 and a 1-year high of $129.79. The business’s fifty day moving average price is $108.75 and its two-hundred day moving average price is $107.48. The company has a market capitalization of $78.55 billion, a P/E ratio of 25.75, a PEG ratio of 1.57 and a beta of 1.14.

Southern Copper Announces Dividend

The business also recently declared a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were given a $0.62 dividend. The ex-dividend date was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is 72.09%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC lifted its position in shares of Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after acquiring an additional 283,562 shares in the last quarter. State Street Corp raised its stake in Southern Copper by 1.0% during the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after purchasing an additional 27,358 shares during the period. Empower Advisory Group LLC lifted its holdings in shares of Southern Copper by 3.3% in the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after purchasing an additional 32,314 shares in the last quarter. Marathon Asset Management Ltd boosted its position in shares of Southern Copper by 2.9% in the third quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock worth $91,226,000 after buying an additional 22,437 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Southern Copper by 0.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock valued at $67,939,000 after buying an additional 4,580 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

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.