Southern Copper Corporation (NYSE:SCCO) Receives $93.60 Consensus Target Price from Analysts

Shares of Southern Copper Corporation (NYSE:SCCO) have been given a consensus rating of “Reduce” by the seven research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $93.60.

Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued an “underweight” rating and issued a $99.00 price objective (up from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Itau BBA Securities raised Southern Copper from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 11th. UBS Group cut Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 target price for the company. in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. raised their target price on Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the transaction, the director directly owned 2,327 shares of the company’s stock, valued at $232,700. This trade represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,028 shares of company stock valued at $102,014 over the last three months. 0.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Generali Investments CEE investicni spolecnost a.s. lifted its stake in Southern Copper by 0.7% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company’s stock valued at $1,409,000 after buying an additional 108 shares during the period. American Financial Advisors LLC lifted its stake in Southern Copper by 1.1% in the second quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock valued at $1,054,000 after buying an additional 112 shares during the period. Mutual Advisors LLC lifted its stake in Southern Copper by 1.7% in the second quarter. Mutual Advisors LLC now owns 6,577 shares of the basic materials company’s stock valued at $646,000 after buying an additional 113 shares during the period. PDS Planning Inc lifted its stake in Southern Copper by 3.7% in the second quarter. PDS Planning Inc now owns 3,330 shares of the basic materials company’s stock valued at $337,000 after buying an additional 119 shares during the period. Finally, Drive Wealth Management LLC lifted its stake in Southern Copper by 5.1% in the second quarter. Drive Wealth Management LLC now owns 2,504 shares of the basic materials company’s stock valued at $253,000 after buying an additional 121 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Up 2.2%

SCCO opened at $103.00 on Friday. Southern Copper has a 1-year low of $74.84 and a 1-year high of $121.44. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $82.82 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 1.46 and a beta of 0.99. The business has a 50 day moving average of $98.19 and a 200-day moving average of $94.09.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.9%. This is an increase from Southern Copper’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 15th. Southern Copper’s dividend payout ratio (DPR) is 70.02%.

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.