Analysts Issue Forecasts for Southern Copper FY2024 Earnings

Southern Copper Co. (NYSE:SCCO) – Scotiabank issued their FY2024 earnings per share (EPS) estimates for Southern Copper in a report released on Wednesday, January 8th. Scotiabank analyst A. Salazar forecasts that the basic materials company will earn $4.48 per share for the year. Scotiabank currently has a “Sector Underperform” rating and a $52.00 target price on the stock. The consensus estimate for Southern Copper’s current full-year earnings is $4.45 per share. Scotiabank also issued estimates for Southern Copper’s FY2025 earnings at $4.71 EPS.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. raised 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. Finally, Citigroup lifted their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Southern Copper presently has a consensus rating of “Hold” and an average price target of $94.81.

Southern Copper Stock Down 1.1 %

Shares of Southern Copper stock opened at $94.58 on Monday. Southern Copper has a one year low of $77.14 and a one year high of $129.79. The company has a market cap of $74.30 billion, a P/E ratio of 24.35, a PEG ratio of 1.56 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The firm has a fifty day moving average of $99.25 and a two-hundred day moving average of $104.58.

Southern Copper Dividend Announcement

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

Institutional Investors Weigh In On Southern Copper

Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after acquiring an additional 599,610 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Southern Copper by 115,910.7% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock worth $38,915,000 after purchasing an additional 336,141 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after buying an additional 283,562 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Southern Copper by 11,510.5% in the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock valued at $21,944,000 after buying an additional 188,082 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Southern Copper by 1,601.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after buying an additional 181,252 shares during the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Company Profile

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.