Southern Copper (NYSE:SCCO) Price Target Cut to $52.00 by Analysts at Scotiabank

Southern Copper (NYSE:SCCO) had its price objective decreased by Scotiabank from $54.00 to $52.00 in a research note issued to investors on Tuesday, Benzinga reports. Scotiabank currently has a sector underperform rating on the basic materials company’s stock.

Several other equities analysts have also recently commented on the company. Morgan Stanley boosted their target price on Southern Copper from $97.00 to $100.00 and gave the stock an underweight rating in a research report on Thursday, September 19th. UBS Group initiated coverage on Southern Copper in a research note on Friday, July 12th. They set a neutral rating and a $120.00 price target for the company. Finally, Citigroup lifted their price target on Southern Copper from $99.44 to $100.00 and gave the stock a sell rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $90.63.

Southern Copper Trading Down 5.2 %

NYSE SCCO opened at $111.48 on Tuesday. Southern Copper has a one year low of $68.93 and a one year high of $129.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. The business has a 50 day simple moving average of $105.62 and a 200 day simple moving average of $109.98. The stock has a market capitalization of $87.08 billion, a P/E ratio of 37.04, a P/E/G ratio of 1.22 and a beta of 1.18.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. Research analysts expect that Southern Copper will post 4.5 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is presently 79.73%.

Institutional Investors Weigh In On Southern Copper

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Occidental Asset Management LLC lifted its stake in shares of Southern Copper by 5.5% in the 3rd quarter. Occidental Asset Management LLC now owns 36,770 shares of the basic materials company’s stock valued at $4,253,000 after acquiring an additional 1,912 shares during the last quarter. Creative Planning increased its holdings in Southern Copper by 4.4% during the 3rd quarter. Creative Planning now owns 49,328 shares of the basic materials company’s stock valued at $5,706,000 after purchasing an additional 2,092 shares during the period. ORG Partners LLC increased its holdings in Southern Copper by 369.7% during the 3rd quarter. ORG Partners LLC now owns 10,978 shares of the basic materials company’s stock valued at $1,270,000 after purchasing an additional 8,641 shares during the period. Empirical Asset Management LLC increased its holdings in Southern Copper by 12.0% during the 3rd quarter. Empirical Asset Management LLC now owns 2,859 shares of the basic materials company’s stock valued at $331,000 after purchasing an additional 306 shares during the period. Finally, Gateway Investment Advisers LLC increased its holdings in Southern Copper by 0.6% during the 3rd quarter. Gateway Investment Advisers LLC now owns 103,988 shares of the basic materials company’s stock valued at $12,028,000 after purchasing an additional 573 shares during the period. Institutional investors own 7.94% of the company’s stock.

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.