Southern Copper (NYSE:SCCO) PT Raised to $100.00

Southern Copper (NYSE:SCCO) had its target price hoisted by Citigroup from $99.44 to $100.00 in a report issued on Wednesday morning, Benzinga reports. Citigroup currently has a sell rating on the basic materials company’s stock.

Several other analysts also recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an underweight rating in a report on Thursday, September 19th. UBS Group started coverage on Southern Copper in a report on Friday, July 12th. They issued a neutral rating and a $120.00 price objective on the stock. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $90.88.

Southern Copper Stock Up 2.3 %

SCCO opened at $117.95 on Wednesday. Southern Copper has a 52 week low of $68.93 and a 52 week high of $129.79. The business has a 50 day moving average price of $103.66 and a two-hundred day moving average price of $109.40. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The company has a market cap of $92.14 billion, a PE ratio of 39.19, a P/E/G ratio of 1.23 and a beta of 1.18.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $2.96 billion. As a group, research analysts anticipate that Southern Copper will post 4.32 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is 79.73%.

Hedge Funds Weigh In On Southern Copper

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in Southern Copper by 18.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after purchasing an additional 1,192,111 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Southern Copper by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock valued at $288,333,000 after acquiring an additional 39,422 shares in the last quarter. Capital World Investors acquired a new position in Southern Copper during the first quarter worth about $340,373,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Southern Copper by 54.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock valued at $164,190,000 after purchasing an additional 544,312 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Southern Copper by 1.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock valued at $87,306,000 after purchasing an additional 18,883 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

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.