Southern Copper (NYSE:SCCO) PT Raised to $100.00

Southern Copper (NYSE:SCCO) had its target price lifted by Morgan Stanley from $97.00 to $100.00 in a research note published on Thursday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the basic materials company’s stock.

Separately, UBS Group began coverage on Southern Copper in a research report on Friday, July 12th. They issued a neutral rating and a $120.00 price target for the company. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $89.57.

Southern Copper Trading Down 1.2 %

Shares of Southern Copper stock opened at $103.60 on Thursday. The firm has a market cap of $80.93 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 1.02 and a beta of 1.17. The business has a 50-day moving average price of $101.92 and a 200-day moving average price of $107.80. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. Southern Copper has a twelve month low of $68.93 and a twelve month high of $129.79.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. Equities research analysts anticipate that Southern Copper will post 4.33 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.32%. Southern Copper’s dividend payout ratio is currently 79.77%.

Institutional Trading of Southern Copper

Institutional investors have recently added to or reduced their stakes in the company. Norden Group LLC bought a new stake in Southern Copper in the first quarter worth about $1,820,000. Los Angeles Capital Management LLC lifted its stake in Southern Copper by 471.0% in the first quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock worth $3,372,000 after purchasing an additional 26,111 shares during the last quarter. Cetera Investment Advisers lifted its stake in Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after purchasing an additional 30,966 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Southern Copper by 149.6% in the fourth quarter. Corient Private Wealth LLC now owns 50,057 shares of the basic materials company’s stock worth $4,308,000 after purchasing an additional 29,999 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Southern Copper by 1.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock worth $87,306,000 after purchasing an additional 18,883 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

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.