Southern Copper (NYSE:SCCO) Reaches New 12-Month High at $117.86

Southern Copper Co. (NYSE:SCCO) hit a new 52-week high during trading on Tuesday . The stock traded as high as $117.86 and last traded at $117.00, with a volume of 217917 shares traded. The stock had previously closed at $112.26.

Analyst Ratings Changes

Several research analysts have commented on SCCO shares. StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and lifted their price target for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. JPMorgan Chase & Co. dropped their price target on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group boosted their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.83.

Southern Copper Trading Down 0.2 %

The firm has a market capitalization of $89.84 billion, a P/E ratio of 37.01 and a beta of 1.29. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average price of $92.07 and a 200-day moving average price of $82.29.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. Analysts anticipate that Southern Copper Co. will post 3.67 earnings per share for the current year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a yield of 2.75%. Southern Copper’s dividend payout ratio is presently 101.91%.

Institutional Investors Weigh In On Southern Copper

Large investors have recently modified their holdings of the business. Hartford Financial Management Inc. bought a new stake in shares of Southern Copper in the third quarter worth about $25,000. Fortis Group Advisors LLC boosted its position 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 buying an additional 151 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Southern Copper during the fourth quarter worth about $27,000. Loomis Sayles & Co. L P acquired a new position in shares of Southern Copper during the first quarter worth about $29,000. Finally, Viking Fund Management LLC acquired a new position in shares of Southern Copper during the fourth quarter worth about $31,000. 7.94% of the stock is currently owned by 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.