Brokerages Set Southern Copper Corporation (NYSE:SCCO) Target Price at $139.99

Southern Copper Corporation (NYSE:SCCO) has received an average rating of “Reduce” from the thirteen analysts that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $139.9908.

A number of equities research analysts have weighed in on SCCO shares. The Goldman Sachs Group reissued a “sell” rating and set a $127.91 target price on shares of Southern Copper in a report on Wednesday, January 14th. Wells Fargo & Company set a $190.38 price target on shares of Southern Copper and gave the company an “equal weight” rating in a research note on Thursday, January 29th. UBS Group reiterated a “sell” rating and set a $148.74 price target (up from $146.75) on shares of Southern Copper in a report on Tuesday, February 3rd. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, Citigroup restated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 193 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the sale, the director directly owned 1,707 shares in the company, valued at $298,042.20. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the sale, the director directly owned 605 shares of the company’s stock, valued at $126,783.04. This represents a 93.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,526 shares of company stock valued at $1,989,373 over the last 90 days. 0.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC lifted its stake in Southern Copper by 0.8% during the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after acquiring an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Southern Copper by 0.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock worth $871,000 after acquiring an additional 51 shares in the last quarter. Steel Grove Capital Advisors LLC grew its stake in shares of Southern Copper by 1.8% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock worth $417,000 after acquiring an additional 52 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Southern Copper by 0.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock valued at $915,000 after purchasing an additional 53 shares during the last quarter. Finally, Venture Visionary Partners LLC raised its holdings in shares of Southern Copper by 0.8% in the fourth quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock valued at $1,004,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

Southern Copper stock opened at $159.70 on Tuesday. The stock has a 50-day moving average price of $190.13 and a two-hundred day moving average price of $153.01. Southern Copper has a 12 month low of $74.84 and a 12 month high of $223.88. The company has a market capitalization of $130.81 billion, a PE ratio of 30.02, a P/E/G ratio of 1.71 and a beta of 1.03. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the previous year, the business posted $0.98 earnings per share. Analysts expect that Southern Copper will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were given a $1.00 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, February 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.5%. Southern Copper’s dividend payout ratio is presently 75.19%.

About Southern Copper

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.