Southern Copper Co. (NYSE:SCCO) Receives $76.00 Consensus Price Target from Analysts

Shares of Southern Copper Co. (NYSE:SCCO - Get Free Report) have been given an average recommendation of "Strong Sell" by the six analysts that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and one has given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $76.00.

SCCO has been the subject of several research reports. Jefferies Financial Group raised shares of Southern Copper from a "hold" rating to a "buy" rating and increased their price objective for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. Scotiabank raised their target price on shares of Southern Copper from $53.00 to $55.00 and gave the company a "sector underperform" rating in a research report on Thursday, April 18th. StockNews.com downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Monday, February 5th. HSBC downgraded shares of Southern Copper from a "hold" rating to a "reduce" rating and set a $80.00 target price for the company. in a research report on Monday. Finally, The Goldman Sachs Group raised their target price on shares of Southern Copper from $61.00 to $82.00 and gave the company a "sell" rating in a research report on Friday, March 22nd.

Southern Copper Stock Down 1.7 %

Shares of SCCO stock traded down $1.92 during trading hours on Tuesday, hitting $109.66. 1,844,384 shares of the company were exchanged, compared to its average volume of 1,126,235. The business has a 50 day moving average of $97.35 and a two-hundred day moving average of $84.65. The company has a current ratio of 3.19, a quick ratio of 2.46 and a debt-to-equity ratio of 0.84. Southern Copper has a 52 week low of $64.66 and a 52 week high of $120.37. The company has a market capitalization of $84.78 billion, a PE ratio of 34.71, a PEG ratio of 3.25 and a beta of 1.29.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.37 billion. Analysts anticipate that Southern Copper will post 3.95 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper's dividend payout ratio is presently 101.91%.

Institutional Trading of Southern Copper

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in Southern Copper by 7.0% in the 3rd quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company's stock valued at $6,075,000 after buying an additional 5,296 shares during the period. Tyche Wealth Partners LLC bought a new position in Southern Copper in the 4th quarter valued at about $1,668,000. Raymond James Financial Services Advisors Inc. increased its holdings in Southern Copper by 119.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company's stock valued at $3,548,000 after buying an additional 22,471 shares during the period. Ameriprise Financial Inc. increased its holdings in Southern Copper by 17.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company's stock valued at $51,854,000 after buying an additional 102,286 shares during the period. Finally, Viking Fund Management LLC bought a new position in Southern Copper in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 7.94% of the company's stock.

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.