Southern Copper Co. (NYSE:SCCO) Receives $94.81 Consensus PT from Brokerages

Shares of Southern Copper Co. (NYSE:SCCO) have been given a consensus recommendation of “Reduce” by the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $94.81.

SCCO has been the subject of several analyst reports. Citigroup raised their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target on the stock in a report on Monday, December 2nd. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, Scotiabank lowered their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV increased its holdings in Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares during the period. McClarren Financial Advisors Inc. grew its holdings in Southern Copper by 169.2% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 181 shares during the period. Oakworth Capital Inc. acquired a new stake in Southern Copper during the 3rd quarter worth about $42,000. Prospera Private Wealth LLC acquired a new stake in Southern Copper during the 3rd quarter worth about $47,000. Finally, Larson Financial Group LLC grew its holdings in Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $96.52 on Thursday. The business’s 50-day simple moving average is $97.37 and its 200-day simple moving average is $103.61. Southern Copper has a 52 week low of $77.42 and a 52 week high of $129.79. The firm has a market cap of $75.82 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 1.92 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.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 2.90%. Southern Copper’s dividend payout ratio is 72.09%.

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.