Southern Copper Co. (NYSE:SCCO) Given Consensus Rating of “Strong Sell” by Analysts

Southern Copper Co. (NYSE:SCCO) has earned an average recommendation of “Strong Sell” from the six ratings firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $76.00.

Several equities analysts recently issued reports on the company. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a report on Monday. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and lifted their price target for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. Scotiabank boosted their price objective on shares of Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st.

Southern Copper Stock Performance

Shares of SCCO opened at $111.59 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper has a 52-week low of $64.66 and a 52-week high of $120.37. The company has a 50-day simple moving average of $97.35 and a 200-day simple moving average of $84.65. The company has a market capitalization of $86.27 billion, a PE ratio of 35.54, a P/E/G ratio of 3.25 and a beta of 1.29.

Southern Copper (NYSE:SCCO) last issued its earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Equities research analysts predict that Southern Copper will post 3.95 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The firm 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. This represents a $3.20 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Monday, February 12th. Southern Copper’s dividend payout ratio (DPR) is 101.91%.

Institutional Investors Weigh In On Southern Copper

Several institutional investors have recently bought and sold shares of the stock. Riverview Trust Co bought a new stake in Southern Copper in the first quarter worth about $27,000. Fortis Group Advisors LLC lifted its stake in Southern Copper by 100.0% in the 4th 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. Hartford Financial Management Inc. purchased a new stake in shares of Southern Copper in the third quarter worth approximately $25,000. Viking Fund Management LLC purchased a new stake in Southern Copper in the 4th quarter worth approximately $31,000. Finally, Venturi Wealth Management LLC boosted its position in Southern Copper by 164.8% during the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

About Southern Copper

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.