Southern Copper Corporation (NYSE:SCCO) Receives Average Rating of “Reduce” from Brokerages

Shares of Southern Copper Corporation (NYSE:SCCO) have earned an average recommendation of “Reduce” from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $122.8333.

A number of research analysts recently issued reports on SCCO shares. Morgan Stanley set a $138.00 target price on shares of Southern Copper and gave the company an “underweight” rating in a research report on Monday. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. The Goldman Sachs Group reissued a “sell” rating and set a $115.00 price objective (up previously from $89.00) on shares of Southern Copper in a research report on Wednesday, October 29th. UBS Group restated a “neutral” rating and issued a $143.00 target price (up from $135.00) on shares of Southern Copper in a research note on Friday, December 12th. Finally, Citigroup reaffirmed a “sell” rating and set a $108.00 price target (up from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 400 shares of Southern Copper stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total value of $55,600.00. Following the completion of the sale, the director owned 1,265 shares of the company’s stock, valued at approximately $175,835. This trade represents a 24.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 948 shares of company stock valued at $131,130. Company insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Southern Copper

Several institutional investors have recently bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. lifted its stake in 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 valued at $26,000 after acquiring an additional 84 shares in the last quarter. Covestor Ltd raised its holdings in shares of Southern Copper by 30.4% in the third quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 84 shares during the last quarter. Avanza Fonder AB lifted its position in shares of Southern Copper by 1.0% during the third quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company’s stock valued at $1,051,000 after purchasing an additional 86 shares in the last quarter. Redwood Wealth Management Group LLC lifted its position in shares of Southern Copper by 1.5% during the third quarter. Redwood Wealth Management Group LLC now owns 5,999 shares of the basic materials company’s stock valued at $728,000 after purchasing an additional 89 shares in the last quarter. Finally, Powell Investment Advisors LLC boosted its holdings in Southern Copper by 1.0% during the third quarter. Powell Investment Advisors LLC now owns 9,637 shares of the basic materials company’s stock worth $1,170,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 0.6%

Shares of Southern Copper stock opened at $142.37 on Friday. The stock’s 50-day moving average is $134.60 and its 200 day moving average is $113.46. Southern Copper has a one year low of $74.84 and a one year high of $149.75. The firm has a market cap of $115.63 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 1.30 and a beta of 1.07. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. The firm had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%. Equities research analysts anticipate that Southern Copper will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, November 12th. Southern Copper’s dividend payout ratio is presently 75.47%.

Southern Copper Company Profile

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.