Southern Copper Corporation (SCCO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Southern Copper Corporation (NYSE:SCCO) from a buy rating to a hold rating in a research report report published on Saturday.

According to Zacks, “Southern Copper Corporation is a mining metallurgical company, producer of copper and valuable by-products. “

Several other research analysts have also commented on SCCO. B. Riley reaffirmed a buy rating on shares of Southern Copper Corporation in a research note on Wednesday, November 1st. Barclays PLC lifted their price objective on shares of Southern Copper Corporation from $33.00 to $35.00 and gave the stock an underweight rating in a research note on Wednesday, August 9th. lowered shares of Southern Copper Corporation from a buy rating to a hold rating and set a $41.00 price objective for the company. in a research note on Wednesday, August 16th. Cowen and Company lifted their price objective on shares of Southern Copper Corporation from $39.00 to $48.00 and gave the stock a market perform rating in a research note on Friday, November 3rd. Finally, BidaskClub raised shares of Southern Copper Corporation from a buy rating to a strong-buy rating in a research note on Thursday, August 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $38.88.

Southern Copper Corporation (SCCO) opened at $42.90 on Friday. Southern Copper Corporation has a fifty-two week low of $31.15 and a fifty-two week high of $44.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.01 and a quick ratio of 2.00. The firm has a market cap of $33,960.00, a price-to-earnings ratio of 34.31, a P/E/G ratio of 0.70 and a beta of 0.62.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.33%. This is an increase from Southern Copper Corporation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, November 7th. Southern Copper Corporation’s dividend payout ratio (DPR) is 64.94%.

Several large investors have recently added to or reduced their stakes in SCCO. Prudential Financial Inc. lifted its position in shares of Southern Copper Corporation by 131.2% during the second quarter. Prudential Financial Inc. now owns 1,223,889 shares of the basic materials company’s stock worth $42,384,000 after purchasing an additional 694,600 shares during the last quarter. Telemark Asset Management LLC bought a new stake in shares of Southern Copper Corporation during the third quarter worth $11,928,000. Cypress Funds LLC bought a new stake in shares of Southern Copper Corporation during the third quarter worth $8,946,000. Oakmont Corp bought a new stake in shares of Southern Copper Corporation during the third quarter worth $8,827,000. Finally, Manning & Napier Advisors LLC lifted its position in shares of Southern Copper Corporation by 10.5% during the second quarter. Manning & Napier Advisors LLC now owns 1,776,807 shares of the basic materials company’s stock worth $61,529,000 after purchasing an additional 168,577 shares during the last quarter. Institutional investors and hedge funds own 6.04% of the company’s stock.

Southern Copper Corporation Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.

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Analyst Recommendations for Southern Copper Corporation (NYSE:SCCO)

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