Brokerages Set Southern Copper Corporation (NYSE:SCCO) PT at $91.00

Shares of Southern Copper Corporation (NYSE:SCCO) have received a consensus recommendation of “Reduce” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $91.00.

A number of analysts have weighed in on SCCO shares. Hsbc Global Res upgraded Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on Southern Copper from $83.50 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, July 3rd. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. UBS Group lowered Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research note on Tuesday, July 1st. Finally, Morgan Stanley downgraded shares of Southern Copper from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $86.00 to $99.00 in a report on Tuesday, July 15th.

Hedge Funds Weigh In On Southern Copper

Several institutional investors and hedge funds have recently modified their holdings of SCCO. Cullen Frost Bankers Inc. grew its position in shares of Southern Copper by 117.6% in the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 147 shares during the period. Golden State Wealth Management LLC purchased a new position in Southern Copper in the 1st quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Southern Copper in the 4th quarter worth about $30,000. N.E.W. Advisory Services LLC acquired a new stake in Southern Copper in the 1st quarter worth about $34,000. Finally, Quarry LP purchased a new stake in Southern Copper during the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $96.45 on Thursday. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. Southern Copper has a 12 month low of $74.11 and a 12 month high of $118.64. The company has a market capitalization of $76.79 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.48 and a beta of 1.02. The firm’s 50-day moving average is $96.45 and its 200 day moving average is $93.66.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. Research analysts predict that Southern Copper will post 4.66 EPS for the current year.

Southern Copper Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper’s dividend payout ratio is presently 61.27%.

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.