Southern Copper Co. (NYSE:SCCO) Receives $76.83 Average Price Target from Analysts

Southern Copper Co. (NYSE:SCCOGet Free Report) has received an average rating of “Reduce” from the five brokerages that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $76.83.

A number of equities analysts have weighed in on SCCO shares. StockNews.com lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. The Goldman Sachs Group increased their target price on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research report on Thursday, March 21st. Finally, Jefferies Financial Group upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and raised their price objective for the company from $91.00 to $130.00 in a research report on Friday, March 22nd.

Check Out Our Latest Analysis on SCCO

Southern Copper Stock Performance

NYSE SCCO opened at $106.52 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. The company has a market capitalization of $82.35 billion, a PE ratio of 33.92 and a beta of 1.27. Southern Copper has a 52-week low of $64.66 and a 52-week high of $107.13. The company has a 50-day simple moving average of $87.48 and a 200 day simple moving average of $80.43.

Southern Copper (NYSE:SCCOGet Free Report) last issued its 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 business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. On average, research analysts predict that Southern Copper will post 3.49 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Monday, February 12th. Southern Copper’s dividend payout ratio is currently 101.91%.

Institutional Investors Weigh In On Southern Copper

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wahed Invest LLC raised its stake 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 purchasing an additional 120 shares in the last quarter. Janiczek Wealth Management LLC raised its stake in shares of Southern Copper by 11.5% during 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 in the last quarter. CWM LLC raised its stake 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 acquiring an additional 137 shares in the last quarter. First National Trust Co raised its stake in shares of Southern Copper by 0.4% during the fourth 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 in the last quarter. Finally, Fortis Group Advisors LLC raised its stake in shares of Southern Copper by 100.0% during the fourth 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. 7.94% of the stock is owned by hedge funds and other institutional investors.

About Southern Copper

(Get Free Report

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.

Further Reading

Analyst Recommendations for Southern Copper (NYSE:SCCO)

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