Southern Copper Co. (NYSE:SCCO) Receives $90.50 Consensus Price Target from Brokerages

Shares of Southern Copper Co. (NYSE:SCCO) have been assigned a consensus rating of “Reduce” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $90.33.

SCCO has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective on the stock. in a research note on Monday, April 22nd. CICC Research assumed coverage on Southern Copper in a research report on Wednesday, April 24th. They set an “outperform” rating for the company. Finally, Scotiabank lowered their price target on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the transaction, the director now owns 4,614 shares in the company, valued at approximately $546,759. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 600 shares of company stock valued at $63,430. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SCCO. Price T Rowe Associates Inc. MD raised its position in shares of Southern Copper by 18.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after acquiring an additional 1,192,111 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Southern Copper by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock worth $288,333,000 after purchasing an additional 39,422 shares during the last quarter. Capital World Investors bought a new position in shares of Southern Copper in the 1st quarter valued at about $340,373,000. abrdn plc grew its position in shares of Southern Copper by 2.3% during the 4th quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock worth $261,759,000 after buying an additional 67,930 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Southern Copper by 54.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock worth $164,190,000 after buying an additional 544,312 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Up 0.9 %

SCCO stock opened at $117.56 on Friday. Southern Copper has a twelve month low of $64.85 and a twelve month high of $129.79. The company has a quick ratio of 2.56, a current ratio of 3.31 and a debt-to-equity ratio of 0.82. The company has a market cap of $91.83 billion, a PE ratio of 39.06, a price-to-earnings-growth ratio of 1.36 and a beta of 1.27. The business’s 50-day simple moving average is $113.46 and its 200 day simple moving average is $92.08.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.17. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. On average, research analysts anticipate that Southern Copper will post 3.97 earnings per share for the current year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were given a $0.01 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.04 annualized dividend and a yield of 0.03%. Southern Copper’s payout ratio is 1.33%.

About Southern Copper

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.