Southern Copper (NYSE:SCCO) Shares Gap Down – Should You Sell?

Southern Copper Co. (NYSE:SCCO)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $95.64, but opened at $92.35. Southern Copper shares last traded at $92.43, with a volume of 57,776 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SCCO shares. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a report on Monday, December 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, Scotiabank reduced their price target on shares of 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. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and a consensus target price of $94.81.

Southern Copper Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock has a market capitalization of $72.85 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.85 and a beta of 1.13. The company’s 50 day moving average is $95.68 and its 200 day moving average is $102.27.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.02%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, February 11th. Southern Copper’s dividend payout ratio is presently 72.09%.

Institutional Trading of Southern Copper

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV grew its stake in shares of Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Southern Copper in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. raised its holdings in shares of Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after buying an additional 181 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after buying an additional 257 shares in the last quarter. Finally, Oakworth Capital Inc. acquired a new position in shares of Southern Copper during the third quarter worth approximately $42,000. Institutional investors own 7.94% of the company’s stock.

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.