Southern Copper Corporation (NYSE:SCCO) Stock Has Consensus Price Target of $159.26

Southern Copper Corporation (NYSE:SCCO) has been assigned a consensus rating of “Reduce” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $159.26.

Several research firms have recently weighed in on SCCO. UBS Group reissued a “sell” rating and set a $178.11 price objective (up from $158.32) on shares of Southern Copper in a research note on Thursday, October 8th. CICC Research lowered Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Morgan Stanley reaffirmed an “underweight” rating and set a $168.22 target price on shares of Southern Copper in a report on Wednesday, October 7th. Finally, Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th.

Southern Copper Stock Performance

NYSE:SCCO opened at $173.33 on Wednesday. Southern Copper has a twelve month low of $119.25 and a twelve month high of $223.88. The company has a current ratio of 4.31, a quick ratio of 4.56 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $197.31 and a 200-day moving average of $185.56. The firm has a market cap of $144.62 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, October 21st. The basic materials company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.01 by $0.12. The business had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.49 billion. Southern Copper had a net margin of 37.16% and a return on equity of 51.61%. During the same period in the prior year, the business earned $1.34 earnings per share. Analysts forecast that Southern Copper will post 8.03 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 3rd. This is a positive change from Southern Copper’s previous quarterly dividend of $1.10. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. Southern Copper’s dividend payout ratio is 57.59%.

Institutional Investors Weigh In On Southern Copper

Large investors have recently made changes to their positions in the company. Ethic Inc. grew its stake in shares of Southern Copper by 65.0% during the 3rd quarter. Ethic Inc. now owns 3,345 shares of the basic materials company’s stock worth $678,000 after acquiring an additional 1,318 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Southern Copper by 12.9% in the third quarter. Parallel Advisors LLC now owns 7,339 shares of the basic materials company’s stock worth $1,487,000 after purchasing an additional 838 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Southern Copper by 11.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,815 shares of the basic materials company’s stock worth $368,000 after purchasing an additional 188 shares in the last quarter. Asset One Wealth Management LLC boosted its holdings in Southern Copper by 14.0% during the third quarter. Asset One Wealth Management LLC now owns 1,829 shares of the basic materials company’s stock worth $371,000 after purchasing an additional 225 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its holdings in Southern Copper by 11.8% during the third quarter. Calamos Wealth Management LLC now owns 22,193 shares of the basic materials company’s stock worth $4,497,000 after purchasing an additional 2,340 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

About Southern Copper

Southern Copper Corporation (NYSE:SCCO) is a mining and metals company engaged primarily in the exploration, development, extraction, processing and production of copper. The company also produces molybdenum, zinc, silver and lead, along with related byproducts. Its operations include open-pit mines, underground mines, concentrators, smelters, refineries and other processing facilities.

Southern Copper operates mainly in Peru and Mexico. Its Peruvian assets include the Toquepala and Cuajone copper mines, while its Mexican operations include the Buenavista del Cobre and La Caridad mines, as well as associated processing and infrastructure facilities.