Southern Copper Corporation (NYSE:SCCO) Receives Average Recommendation of “Reduce” from Analysts

Southern Copper Corporation (NYSE:SCCO) has earned a consensus recommendation of “Reduce” from the fifteen analysts that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $148.6022.

A number of research analysts have recently issued reports on SCCO shares. CICC Research downgraded Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. JPMorgan Chase & Co. lifted their target price on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a report on Wednesday, June 17th. Morgan Stanley boosted their price target on Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 504 shares of company stock worth $92,008 in the last quarter. 0.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Southern Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SHP Wealth Management bought a new position in Southern Copper in the fourth quarter worth approximately $25,000. Lloyd Advisory Services LLC. bought a new stake in shares of Southern Copper during the fourth quarter valued at approximately $29,000. Virtus Advisers LLC acquired a new position in shares of Southern Copper during the fourth quarter worth approximately $29,000. Godfrey Financial Associates Inc. acquired a new position in shares of Southern Copper during the fourth quarter worth approximately $30,000. Finally, IFP Advisors Inc lifted its holdings in shares of Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Up 0.0%

SCCO opened at $182.79 on Monday. Southern Copper has a twelve month low of $89.87 and a twelve month high of $223.88. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $181.30 and a 200-day moving average of $184.19. The stock has a market cap of $150.99 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11.

Shares of Southern Copper are going to split on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be issued to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 50.74%. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, sell-side analysts predict that Southern Copper will post 7.63 EPS for the current year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.4%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s payout ratio is presently 64.33%.

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.