Southern Copper Corporation (NYSE:SCCO) Given Consensus Recommendation of “Reduce” by Analysts

Southern Copper Corporation (NYSE:SCCO) has earned a consensus rating of “Reduce” from the thirteen research firms that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $144.2479.

A number of research firms recently commented on SCCO. Scotiabank reissued an “underperform” rating and issued a $133.00 price target (up from $125.00) on shares of Southern Copper in a report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price target on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Morgan Stanley boosted their price target on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. Finally, UBS Group lowered their price target on Southern Copper from $150.00 to $140.00 and set a “sell” rating on the stock in a report on Friday, March 27th.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 193 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.60, for a total transaction of $33,697.80. Following the sale, the director directly owned 1,707 shares of the company’s stock, valued at $298,042.20. This represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by company insiders.

Institutional Trading of Southern Copper

Hedge funds have recently modified their holdings of the company. SHP Wealth Management purchased a new stake in shares of Southern Copper during the 4th quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new stake in Southern Copper during the 4th quarter valued at $29,000. Virtus Advisers LLC purchased a new stake in Southern Copper during the 4th quarter valued at $29,000. Godfrey Financial Associates Inc. purchased a new stake in Southern Copper during the 4th quarter valued at $30,000. Finally, Hopwood Financial Services Inc. purchased a new stake in Southern Copper during the 3rd quarter valued at $25,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Up 3.4%

NYSE SCCO opened at $191.62 on Wednesday. The stock’s 50 day moving average is $180.70 and its 200 day moving average is $167.15. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. Southern Copper has a 12 month low of $88.54 and a 12 month high of $223.88. The stock has a market cap of $156.95 billion, a PE ratio of 31.67, a P/E/G ratio of 1.81 and a beta of 1.07.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Research analysts predict that Southern Copper will post 6.99 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper’s dividend payout ratio is 66.12%.

Southern Copper Company Profile

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.