Southern Copper Corporation (NYSE:SCCO) Given Consensus Rating of “Reduce” by Brokerages

Shares of Southern Copper Corporation (NYSE:SCCO) have been assigned a consensus recommendation of “Reduce” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $129.05.

Several equities analysts have recently issued reports on the company. Citigroup reiterated a “sell” rating on shares of Southern Copper in a research report on Monday. Jefferies Financial Group set a $155.00 target price on Southern Copper and gave the company a “buy” rating in a research note on Monday, October 6th. HSBC reissued a “hold” rating and issued a $118.00 price target (up previously from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of Southern Copper from $114.50 to $119.50 and gave the company a “neutral” rating in a research note on Thursday, December 18th. Finally, Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total transaction of $55,600.00. Following the sale, the director owned 1,265 shares of the company’s stock, valued at $175,835. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 948 shares of company stock worth $131,130 in the last quarter. 0.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Southern Copper

Several hedge funds have recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in Southern Copper during the third quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. lifted its holdings in Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 84 shares during the last quarter. Tobam bought a new position in shares of Southern Copper during the 2nd quarter valued at about $29,000. United Community Bank acquired a new position in shares of Southern Copper in the 3rd quarter worth approximately $30,000. Finally, Caitlin John LLC acquired a new position in shares of Southern Copper in the 3rd quarter worth approximately $30,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Up 3.2%

Southern Copper stock opened at $180.01 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. Southern Copper has a one year low of $74.84 and a one year high of $181.42. The company has a 50-day simple moving average of $142.92 and a 200-day simple moving average of $121.40. The firm has a market capitalization of $146.20 billion, a P/E ratio of 37.74, a P/E/G ratio of 1.48 and a beta of 1.06.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. As a group, equities analysts expect that Southern Copper will post 4.66 earnings per share for the current year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were issued a $0.90 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. Southern Copper’s dividend payout ratio (DPR) is 75.47%.

About Southern Copper

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.