Southern Copper Corporation (NYSE:SCCO) Receives $91.50 Consensus Target Price from Analysts

Southern Copper Corporation (NYSE:SCCO) has earned an average rating of “Reduce” from the seven brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $91.50.

A number of research analysts have recently weighed in on SCCO shares. JPMorgan Chase & Co. dropped their price target on Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. UBS Group dropped their target price on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. Scotiabank increased their price target on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. Finally, Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th.

Southern Copper Price Performance

SCCO stock opened at $102.41 on Friday. The firm has a 50 day moving average of $93.23 and a 200-day moving average of $92.95. The company has a market cap of $81.54 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.38 and a beta of 1.01. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. Southern Copper has a 12-month low of $74.11 and a 12-month high of $118.64.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. As a group, equities analysts expect that Southern Copper will post 4.66 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a dividend of $0.70 per share. This represents a yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper’s dividend payout ratio (DPR) is presently 61.27%.

Institutional Investors Weigh In On Southern Copper

A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $52,738,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $40,226,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Southern Copper in the first quarter valued at approximately $40,338,000. Renaissance Technologies LLC raised its position in shares of Southern Copper by 1,417.7% in the fourth quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company’s stock valued at $37,173,000 after buying an additional 381,035 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Southern Copper in the first quarter valued at approximately $34,086,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

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.