Southern Copper (NYSE:SCCO) Hits New 1-Year High – Here’s Why

Southern Copper Corporation (NYSE:SCCO) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $174.27 and last traded at $175.5860, with a volume of 363244 shares traded. The stock had previously closed at $170.52.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. UBS Group reaffirmed a “neutral” rating and set a $143.00 price objective (up from $135.00) on shares of Southern Copper in a research report on Friday, December 12th. JPMorgan Chase & Co. lifted their target price on shares of Southern Copper from $114.50 to $119.50 and gave the company a “neutral” rating in a research note on Thursday, December 18th. Jefferies Financial Group set a $155.00 price target on shares of Southern Copper and gave the company a “buy” rating in a report on Monday, October 6th. Itau BBA Securities downgraded shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 price target on the stock. in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $115.00 price objective (up previously from $89.00) on shares of Southern Copper in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Southern Copper currently has an average rating of “Reduce” and an average price target of $123.85.

Southern Copper Stock Up 2.8%

The business has a 50-day simple moving average of $140.40 and a two-hundred day simple moving average of $119.97. The company has a market cap of $142.41 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 1.44 and a beta of 1.06. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%.The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.05 billion. As a group, equities analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were given a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is currently 75.47%.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 400 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total transaction of $55,600.00. Following the completion of the sale, the director directly owned 1,265 shares of the company’s stock, valued at approximately $175,835. This represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 948 shares of company stock valued at $131,130 in the last ninety days. 0.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SCCO. Focus Financial Network Inc. grew its position in shares of Southern Copper by 43.2% in the fourth quarter. Focus Financial Network Inc. now owns 2,694 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 813 shares during the last quarter. Avanza Fonder AB boosted its stake in Southern Copper by 0.8% during the 4th quarter. Avanza Fonder AB now owns 8,736 shares of the basic materials company’s stock valued at $1,253,000 after purchasing an additional 73 shares during the period. SG Americas Securities LLC grew its holdings in Southern Copper by 79.1% in the 4th quarter. SG Americas Securities LLC now owns 96,135 shares of the basic materials company’s stock valued at $13,792,000 after buying an additional 42,457 shares during the last quarter. Diversified Trust Co. acquired a new stake in Southern Copper in the 4th quarter valued at approximately $1,175,000. Finally, 180 Wealth Advisors LLC increased its position in Southern Copper by 1.8% in the 4th quarter. 180 Wealth Advisors LLC now owns 4,599 shares of the basic materials company’s stock worth $660,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

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.