Southern Copper Corporation (NYSE:SCCO) Receives Average Rating of "Reduce" from Brokerages

Key Points

• Southern Copper Corporation (NYSE:SCCO) has received an average rating of "Reduce" from seven brokerages, with three analysts recommending a sell and four a hold.
• The company recently announced a dividend increase to $1.01 per share from $0.62, yielding approximately 270.0%, with the ex-dividend date on August 15th.
• Institutional investors have been active in adjusting their stakes, with JPMorgan Chase & Co. significantly increasing its ownership by 26.3% during the first quarter.

Southern Copper Corporation (NYSE:SCCO - Get Free Report) has been given a consensus rating of "Reduce" by the seven ratings firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $91.00.

Several research firms recently commented on SCCO. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Wall Street Zen downgraded 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 $83.50 to $79.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Morgan Stanley restated an "underweight" rating and set a $99.00 target price (up previously from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Finally, Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. 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 grew its stake in shares of Southern Copper by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock valued at $337,260,000 after buying an additional 15,037 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Southern Copper by 26.3% during the first quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock valued at $145,039,000 after buying an additional 322,935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Southern Copper by 3.2% during 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Southern Copper by 6.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,280,286 shares of the basic materials company's stock valued at $116,672,000 after buying an additional 78,769 shares during the last quarter. Institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

Southern Copper stock opened at $100.09 on Monday. Southern Copper has a 12 month low of $74.84 and a 12 month high of $121.44. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. The business's 50 day simple moving average is $97.78 and its 200 day simple moving average is $93.73. The company has a market cap of $80.48 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.44 and a beta of 1.00.

Southern Copper Increases Dividend

The company also recently announced a -- dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $1.01 dividend. This is a boost from Southern Copper's previous -- dividend of $0.62. This represents a yield of 270.0%. The ex-dividend date of this dividend is Friday, August 15th. Southern Copper's payout ratio is currently 61.27%.

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.

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