Southern Copper (NYSE:SCCO) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Southern Copper (NYSE:SCCO) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. Zacks Research lowered shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Barclays set a $163.27 target price on shares of Southern Copper and gave the stock an “underweight” rating in a research note on Monday, October 26th. Weiss Ratings lowered shares of Southern Copper from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. Wells Fargo & Company set a $190.98 target price on shares of Southern Copper and gave the company an “equal weight” rating in a report on Friday, October 23rd. Finally, Citigroup reissued a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of “Reduce” and an average price target of $159.26.

Southern Copper Stock Performance

NYSE SCCO opened at $167.10 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.56 and a current ratio of 4.31. The stock’s fifty day moving average is $194.62 and its two-hundred day moving average is $185.44. The firm has a market capitalization of $139.42 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. Southern Copper has a fifty-two week low of $119.25 and a fifty-two week high of $223.88.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, October 21st. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.12. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. The business had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the company earned $1.34 EPS. On average, research analysts anticipate that Southern Copper will post 8.01 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This is an increase from Southern Copper’s previous quarterly dividend of $1.10. This represents a $5.20 dividend on an annualized basis and a yield of 3.1%. Southern Copper’s dividend payout ratio is currently 68.06%.

Institutional Investors Weigh In On Southern Copper

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Southern Copper during the second quarter worth about $1,729,500,000. Bank of America Corp DE acquired a new stake in Southern Copper in the second quarter valued at approximately $318,448,000. Legal & General Group Plc acquired a new stake in Southern Copper in the second quarter valued at approximately $149,739,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Southern Copper in the first quarter valued at approximately $85,342,000. Finally, Deutsche Bank AG purchased a new position in Southern Copper in the second quarter worth approximately $85,770,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Company Profile

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products.

The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.

Southern Copper traces its origins to Southern Peru Copper Corporation, established in 1952, and is part of Grupo México.