Southern Copper Corporation (NYSE:SCCO) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Southern Copper Corporation (NYSE:SCCO) have earned an average rating of “Reduce” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $147.0189.

Several brokerages recently weighed in on SCCO. Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the company an “equal weight” rating in a report on Friday, May 1st. Barclays initiated coverage on Southern Copper in a research note on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price target on the stock. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a research report on Friday, April 10th. UBS Group reissued a “sell” rating and set a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a report on Wednesday, June 17th.

Southern Copper Stock Down 1.3%

Shares of NYSE:SCCO opened at $167.58 on Thursday. The stock’s 50-day moving average price is $180.92 and its 200-day moving average price is $180.74. Southern Copper has a 12-month low of $88.73 and a 12-month high of $223.88. The stock has a market capitalization of $138.44 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director owned 1,807 shares in the company, valued at approximately $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 404 shares of company stock valued at $74,108. 0.07% of the stock is owned by company insiders.

Institutional Trading of Southern Copper

A number of institutional investors have recently modified their holdings of SCCO. SHP Wealth Management purchased a new stake in Southern Copper in the 4th quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Southern Copper during the fourth quarter valued at approximately $29,000. Virtus Advisers LLC purchased a new position in shares of Southern Copper during the fourth quarter valued at approximately $29,000. Godfrey Financial Associates Inc. bought a new position in shares of Southern Copper during the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc raised its holdings in shares of Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 161 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

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.