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

Southern Copper Co. (NYSE:SCCO - Get Free Report) has received an average rating of "Reduce" from the six research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $91.50.

Several equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. dropped their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Scotiabank boosted their price target on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, UBS Group decreased their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th.

Southern Copper Trading Up 0.8%

Shares of NYSE SCCO traded up $0.71 during midday trading on Wednesday, hitting $92.45. The stock had a trading volume of 1,053,275 shares, compared to its average volume of 1,193,516. Southern Copper has a fifty-two week low of $74.11 and a fifty-two week high of $118.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a market cap of $73.61 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The company's 50-day simple moving average is $89.80 and its 200 day simple moving average is $93.87.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The business had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.05 billion. Research analysts anticipate that Southern Copper will post 4.66 EPS for the current year.

Southern Copper Announces Dividend

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

Hedge Funds Weigh In On Southern Copper

Hedge funds have recently bought and sold shares of the business. Capital World Investors increased its stake in Southern Copper by 0.6% in the fourth quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company's stock valued at $385,684,000 after acquiring an additional 24,787 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Southern Copper by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock worth $337,260,000 after buying an additional 15,037 shares during the last quarter. abrdn plc grew its holdings in shares of Southern Copper by 4.4% during the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock valued at $260,428,000 after purchasing an additional 118,909 shares during the last quarter. JPMorgan Chase & Co. increased its position in Southern Copper by 26.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock worth $145,039,000 after purchasing an additional 322,935 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Southern Copper by 3.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,398,651 shares of the basic materials company's stock valued at $130,718,000 after buying an additional 44,014 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

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.