Southern Copper Co. (NYSE:SCCO) Receives $94.56 Average Price Target from Brokerages

Shares of Southern Copper Co. (NYSE:SCCO) have been given an average recommendation of “Reduce” by the nine research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $94.56.

SCCO has been the subject of a number of recent research reports. Citigroup raised their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Scotiabank cut their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Morgan Stanley increased their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research note on Monday, December 2nd.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $100.05 on Wednesday. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $109.13 and its 200 day moving average price is $107.88. Southern Copper has a 52 week low of $70.92 and a 52 week high of $129.79. The stock has a market cap of $78.59 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.57 and a beta of 1.14.

Southern Copper Announces Dividend

The firm also recently declared a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were paid a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s payout ratio is 72.16%.

Institutional Investors Weigh In On Southern Copper

Institutional investors have recently bought and sold shares of the stock. Fisher Asset Management LLC grew its position in Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after acquiring an additional 283,562 shares during the period. State Street Corp lifted its position in Southern Copper by 1.0% during the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after buying an additional 27,358 shares in the last quarter. Empower Advisory Group LLC grew its stake in Southern Copper by 3.3% during the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock worth $116,140,000 after buying an additional 32,314 shares during the period. Marathon Asset Management Ltd increased its position in shares of Southern Copper by 2.9% in the third quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock worth $91,226,000 after acquiring an additional 22,437 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Southern Copper by 0.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock worth $67,939,000 after acquiring an additional 4,580 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

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.