Brokerages Set Southern Copper Co. (NYSE:SCCO) Target Price at $91.50

Southern Copper Co. (NYSE:SCCO) has been assigned an average recommendation of “Reduce” from the six research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $91.50.

Several analysts recently issued reports on SCCO shares. UBS Group reduced their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Hsbc Global Res upgraded shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut their target price on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Finally, Scotiabank raised their target price 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.

Hedge Funds Weigh In On Southern Copper

Large investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. raised its stake in shares of Southern Copper by 22.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company’s stock valued at $12,487,000 after acquiring an additional 24,933 shares during the last quarter. Raymond James Financial Inc. bought a new position in Southern Copper during the fourth quarter worth $8,420,000. Charles Schwab Investment Management Inc. raised its stake in Southern Copper by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company’s stock worth $21,638,000 after buying an additional 4,889 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Southern Copper during the fourth quarter worth $308,000. Finally, Vantage Investment Partners LLC raised its stake in Southern Copper by 21.8% during the fourth quarter. Vantage Investment Partners LLC now owns 139,554 shares of the basic materials company’s stock worth $12,718,000 after buying an additional 24,987 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

NYSE SCCO opened at $90.95 on Wednesday. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $72.41 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 1.90 and a beta of 1.05. The firm’s 50 day simple moving average is $89.45 and its 200 day simple moving average is $93.60. Southern Copper has a 1 year low of $74.11 and a 1 year high of $118.64.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, research analysts expect that Southern Copper will post 4.66 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper’s payout ratio is currently 61.27%.

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.