Brokerages Set Southern Copper Corporation (NYSE:SCCO) Price Target at $137.45

Southern Copper Corporation (NYSE:SCCO) has been given a consensus rating of “Reduce” by the twelve analysts that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $137.65.

Several equities research analysts have issued reports on the company. Citigroup restated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. UBS Group reissued a “sell” rating and set a $150.00 price target (up previously from $148.00) on shares of Southern Copper in a research report on Tuesday. Itau BBA Securities lowered shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 price target for the company. in a research note on Monday, December 22nd. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $129.00 price objective on shares of Southern Copper in a report on Wednesday, January 14th.

Southern Copper Price Performance

SCCO opened at $200.10 on Monday. Southern Copper has a twelve month low of $74.84 and a twelve month high of $218.81. The firm has a market cap of $162.52 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 1.56 and a beta of 1.07. The company has a current ratio of 4.52, a quick ratio of 3.91 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $163.33 and a 200 day simple moving average of $131.89.

Southern Copper shares are scheduled to split on the morning of Tuesday, February 10th. The 1.0085-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, February 9th.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s dividend payout ratio (DPR) is 75.47%.

Insider Buying and Selling

In other news, Director Bonilla Luis Miguel Palomino sold 400 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total value of $55,600.00. Following the transaction, the director directly owned 1,265 shares in the company, valued at approximately $175,835. This trade represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lerdo De Tejada Leon Contreras sold 9,248 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $211.34, for a total transaction of $1,954,472.32. Following the sale, the director directly owned 600 shares of the company’s stock, valued at approximately $126,804. This represents a 93.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,796 shares of company stock valued at $2,030,792 over the last quarter. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Southern Copper

Several hedge funds and other institutional investors have recently made changes to their positions in SCCO. Hopwood Financial Services Inc. acquired a new position in Southern Copper in the third quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. boosted its stake in shares of Southern Copper by 65.1% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 84 shares in the last quarter. Tobam acquired a new position in shares of Southern Copper in the 2nd quarter worth $29,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper during the fourth quarter worth $29,000. Finally, United Community Bank purchased a new stake in shares of Southern Copper during the third quarter valued at $30,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

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.