Southern Copper (NYSE:SCCO) Reaches New 52-Week Low at $44.68

Shares of Southern Copper Co. (NYSE:SCCOGet Rating) reached a new 52-week low during trading on Thursday . The company traded as low as $44.68 and last traded at $44.89, with a volume of 24277 shares. The stock had previously closed at $47.07.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Morgan Stanley cut their price target on shares of Southern Copper from $66.00 to $52.00 and set an “underweight” rating for the company in a research note on Wednesday, June 22nd. Wolfe Research cut shares of Southern Copper from a “peer perform” rating to an “underperform” rating in a research note on Thursday, July 7th. Barclays lowered their price objective on shares of Southern Copper to $50.00 in a report on Tuesday, August 9th. Finally, The Goldman Sachs Group began coverage on shares of Southern Copper in a report on Friday, August 5th. They issued a “neutral” rating and a $65.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, Southern Copper currently has an average rating of “Hold” and an average price target of $53.80.

Southern Copper Stock Up 0.7 %

The stock’s fifty day moving average is $48.88 and its 200 day moving average is $60.59. The company has a current ratio of 3.29, a quick ratio of 2.58 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $35.32 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.12.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 11th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $3.00 dividend on an annualized basis and a yield of 6.57%. Southern Copper’s dividend payout ratio is currently 79.37%.

Institutional Investors Weigh In On Southern Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCCO. Northern Trust Corp raised its holdings in Southern Copper by 19.6% during the 4th quarter. Northern Trust Corp now owns 612,093 shares of the basic materials company’s stock valued at $37,772,000 after buying an additional 100,449 shares during the last quarter. Raymond James & Associates raised its holdings in Southern Copper by 0.5% in the 4th quarter. Raymond James & Associates now owns 72,609 shares of the basic materials company’s stock worth $4,481,000 after purchasing an additional 387 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Southern Copper by 143.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,248 shares of the basic materials company’s stock worth $200,000 after purchasing an additional 1,912 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Southern Copper by 1.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 16,641 shares of the basic materials company’s stock worth $1,013,000 after purchasing an additional 220 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in Southern Copper by 15.9% in the 4th quarter. First Republic Investment Management Inc. now owns 78,531 shares of the basic materials company’s stock worth $4,846,000 after purchasing an additional 10,784 shares in the last quarter. 7.15% of the stock is currently owned by institutional investors.

About Southern Copper

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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 and lead.

Further Reading

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