Equities Analysts Issue Forecasts for Southern Copper Corporation’s FY2018 Earnings (SCCO)
Southern Copper Corporation (NYSE:SCCO) – Investment analysts at B. Riley increased their FY2018 earnings estimates for Southern Copper in a research note issued to investors on Thursday. B. Riley analyst L. Pipes now expects that the basic materials company will post earnings of $2.61 per share for the year, up from their prior forecast of $2.06. B. Riley has a “Buy” rating on the stock. B. Riley also issued estimates for Southern Copper’s FY2019 earnings at $2.67 EPS.
A number of other brokerages have also weighed in on SCCO. Zacks Investment Research lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. BidaskClub raised Southern Copper from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 17th. Scotiabank lowered Southern Copper from a “sector perform” rating to an “underperform” rating in a research report on Monday, October 23rd. FBR & Co reissued a “buy” rating on shares of Southern Copper in a research report on Monday, October 23rd. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price target on shares of Southern Copper in a research report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $38.88.
Southern Copper (NYSE:SCCO) traded down $0.70 during trading on Monday, hitting $42.42. The company’s stock had a trading volume of 2,161,000 shares, compared to its average volume of 939,968. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.01 and a quick ratio of 2.00. Southern Copper has a 52-week low of $31.55 and a 52-week high of $44.69. The company has a market cap of $33,332.97, a PE ratio of 33.69, a price-to-earnings-growth ratio of 0.67 and a beta of 0.62.
Several hedge funds have recently bought and sold shares of SCCO. Bessemer Group Inc. boosted its stake in Southern Copper by 114.5% in the 2nd quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 1,971 shares during the period. SG Americas Securities LLC bought a new position in Southern Copper in the 2nd quarter worth about $134,000. Americafirst Capital Management LLC bought a new position in Southern Copper in the 3rd quarter worth about $166,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Southern Copper by 3.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,820 shares of the basic materials company’s stock worth $202,000 after purchasing an additional 200 shares during the period. Finally, Winslow Evans & Crocker Inc. boosted its stake in Southern Copper by 8,282.5% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 6,706 shares of the basic materials company’s stock worth $267,000 after purchasing an additional 6,626 shares during the period. Institutional investors own 6.34% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were paid a dividend of $0.25 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.14. The ex-dividend date was Tuesday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. Southern Copper’s dividend payout ratio is presently 78.13%.
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About Southern Copper
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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