Analysts Set Southern Copper Corporation (NYSE:SCCO) PT at $139.99

Shares of Southern Copper Corporation (NYSE:SCCO) have earned a consensus rating of “Reduce” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $139.9908.

A number of research firms have recently issued reports on SCCO. Scotiabank restated an “underperform” rating on shares of Southern Copper in a research note on Tuesday, January 27th. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research note on Sunday. UBS Group reiterated a “sell” rating and issued a $148.74 price objective (up from $146.75) on shares of Southern Copper in a research note on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $116.51 target price (down from $118.49) on shares of Southern Copper in a research report on Friday, January 23rd.

Southern Copper Stock Up 1.0%

Shares of Southern Copper stock opened at $217.88 on Friday. Southern Copper has a twelve month low of $74.84 and a twelve month high of $223.89. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $180.98 and its 200 day moving average is $142.63. The company has a market cap of $176.96 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s payout ratio is presently 75.19%.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 403 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total value of $55,544.87. Following the transaction, the director directly owned 1,275 shares of the company’s stock, valued at approximately $175,731.28. This trade represents a 24.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of Southern Copper stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the transaction, the director owned 605 shares in the company, valued at $126,783.04. This trade represents a 93.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Southern Copper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rakuten Investment Management Inc. purchased a new stake in Southern Copper during the third quarter worth $2,976,000. Legal & General Group Plc boosted its position in Southern Copper by 4.3% during the second quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock valued at $95,273,000 after purchasing an additional 38,856 shares in the last quarter. Nordea Investment Management AB grew its stake in Southern Copper by 5.7% in the third quarter. Nordea Investment Management AB now owns 148,484 shares of the basic materials company’s stock valued at $17,778,000 after purchasing an additional 7,995 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Southern Copper by 2,631.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company’s stock worth $1,631,000 after purchasing an additional 12,949 shares in the last quarter. Finally, Alps Advisors Inc. raised its holdings in Southern Copper by 54.2% in the third quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company’s stock worth $4,326,000 after purchasing an additional 12,532 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Company Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.