Shares of Southern Copper Corporation (NYSE:SCCO – Get Free Report) have been assigned a consensus recommendation of “Reduce” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $145.1439.
Several research analysts have recently commented on SCCO shares. Morgan Stanley raised their price objective on shares of Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group raised their price objective on shares of Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research note on Thursday, May 21st. Barclays started coverage on shares of Southern Copper in a research note on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price objective for the company. Finally, Bank of America lowered shares of Southern Copper from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $162.00 to $175.00 in a research note on Thursday, February 26th.
Get Our Latest Research Report on SCCO
Southern Copper Trading Up 4.2%
Southern Copper (NYSE:SCCO – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $3.96 billion. Equities research analysts anticipate that Southern Copper will post 7.25 EPS for the current fiscal year.
Southern Copper Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 66.12%.
Insiders Place Their Bets
In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the sale, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 404 shares of company stock valued at $74,108 over the last 90 days. 0.07% of the stock is owned by company insiders.
Institutional Trading of Southern Copper
Several hedge funds have recently added to or reduced their stakes in SCCO. Hopwood Financial Services Inc. acquired a new stake in Southern Copper in the third quarter valued at approximately $25,000. SHP Wealth Management acquired a new stake in Southern Copper in the fourth quarter valued at approximately $25,000. Lloyd Advisory Services LLC. acquired a new stake in Southern Copper in the fourth quarter valued at approximately $29,000. Virtus Advisers LLC acquired a new stake in Southern Copper in the fourth quarter valued at approximately $29,000. Finally, Caitlin John LLC acquired a new stake in Southern Copper in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 7.94% of the company’s stock.
Southern Copper Company Profile
Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.
Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.
Featured Stories
- Five stocks we like better than Southern Copper
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.
