Southern Copper (NYSE:SCCO) Reaches New 12-Month Low at $43.24

Southern Copper Co. (NYSE:SCCOGet Rating)’s share price hit a new 52-week low on Friday . The company traded as low as $43.24 and last traded at $43.34, with a volume of 7582 shares. The stock had previously closed at $45.57.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup cut Southern Copper from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $70.00 to $40.00 in a research report on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Southern Copper in a research report on Wednesday, September 14th. They issued a “hold” rating and a $47.00 target price on the stock. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $51.00 to $55.00 in a research report on Friday, September 16th. Barclays lowered their target price on Southern Copper to $50.00 in a research report on Tuesday, August 9th. Finally, The Goldman Sachs Group started coverage on Southern Copper in a research report on Friday, August 5th. They issued a “neutral” rating and a $65.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.17.

Southern Copper Trading Down 4.5 %

The firm has a market capitalization of $33.64 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.58 and a current ratio of 3.29. The firm has a 50 day moving average price of $47.91 and a two-hundred day moving average price of $58.05.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 6.89%. The ex-dividend date was Wednesday, August 10th. Southern Copper’s dividend payout ratio is presently 79.37%.

Institutional Investors Weigh In On Southern Copper

Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Southern Copper by 10.7% in the first quarter. BlackRock Inc. now owns 7,022,108 shares of the basic materials company’s stock worth $532,978,000 after buying an additional 680,165 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Southern Copper by 200.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,179,899 shares of the basic materials company’s stock worth $208,201,000 after buying an additional 2,789,376 shares during the period. Fisher Asset Management LLC boosted its position in shares of Southern Copper by 5.5% in the first quarter. Fisher Asset Management LLC now owns 3,792,167 shares of the basic materials company’s stock worth $287,826,000 after buying an additional 197,756 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Southern Copper by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,763,612 shares of the basic materials company’s stock worth $209,759,000 after buying an additional 835,044 shares during the period. Finally, State Street Corp boosted its position in shares of Southern Copper by 4.5% in the first quarter. State Street Corp now owns 2,629,660 shares of the basic materials company’s stock worth $199,591,000 after buying an additional 112,609 shares during the period. 7.15% of the stock is owned by institutional investors.

Southern Copper Company Profile

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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 and lead.

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