Southern Copper Co. (NYSE:SCCO) Given Average Rating of “Reduce” by Analysts

Southern Copper Co. (NYSE:SCCOGet Free Report) has received a consensus rating of “Reduce” from the seven analysts that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $84.50.

A number of equities research analysts have issued reports on SCCO shares. CICC Research started coverage on Southern Copper in a research report on Wednesday, April 24th. They set an “outperform” rating for the company. The Goldman Sachs Group boosted their target price on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a report on Friday, March 22nd. Scotiabank cut their price target on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a report on Tuesday, May 21st. Morgan Stanley boosted their price objective on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. Finally, HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price on the stock. in a report on Monday, April 22nd.

Get Our Latest Stock Report on SCCO

Insider Buying and Selling at Southern Copper

In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the transaction, the director now directly owns 2,214 shares of the company’s stock, valued at approximately $261,916.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the transaction, the director now directly owns 2,214 shares of the company’s stock, valued at approximately $261,916.20. The disclosure for this sale can be found here. Insiders have sold a total of 4,000 shares of company stock valued at $472,430 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of Southern Copper

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC boosted its position in Southern Copper by 7.0% during the 3rd quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock valued at $6,075,000 after purchasing an additional 5,296 shares during the period. Tyche Wealth Partners LLC bought a new position in shares of Southern Copper during the fourth quarter worth about $1,668,000. Los Angeles Capital Management LLC increased its holdings in shares of Southern Copper by 471.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock worth $3,372,000 after acquiring an additional 26,111 shares during the period. Janney Montgomery Scott LLC lifted its position in Southern Copper by 378.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock valued at $14,322,000 after purchasing an additional 131,651 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Southern Copper by 119.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock valued at $3,548,000 after purchasing an additional 22,471 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Up 0.6 %

Shares of SCCO stock opened at $116.75 on Friday. The firm’s 50-day simple moving average is $114.58 and its 200-day simple moving average is $99.95. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56. Southern Copper has a 1-year low of $67.64 and a 1-year high of $129.79. The firm has a market cap of $91.20 billion, a P/E ratio of 38.80, a PEG ratio of 1.14 and a beta of 1.19.

Southern Copper (NYSE:SCCOGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.17. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. As a group, equities analysts forecast that Southern Copper will post 4.45 EPS for the current year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Southern Copper’s dividend payout ratio (DPR) is presently 1.33%.

Southern Copper Company Profile

(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.

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Analyst Recommendations for Southern Copper (NYSE:SCCO)

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