Shares of Southern Copper Corp (NYSE:SCCO) have received an average rating of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $39.22.
Several brokerages have recently weighed in on SCCO. JPMorgan Chase & Co. set a $32.00 target price on shares of Southern Copper and gave the company a “hold” rating in a report on Wednesday, August 21st. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal” rating and set a $36.00 price target for the company in a report on Monday, September 23rd. Bank of America restated a “buy” rating and issued a $46.00 price objective on shares of Southern Copper in a research report on Thursday, August 15th. ValuEngine downgraded shares of Southern Copper from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Finally, Zacks Investment Research lowered Southern Copper from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a report on Wednesday, October 16th.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Banco de Sabadell S.A purchased a new position in shares of Southern Copper in the 3rd quarter valued at about $25,000. Steward Partners Investment Advisory LLC purchased a new stake in Southern Copper during the second quarter worth about $31,000. Usca Ria LLC acquired a new position in Southern Copper during the third quarter worth about $34,000. North Star Investment Management Corp. acquired a new position in Southern Copper during the third quarter worth about $41,000. Finally, Signaturefd LLC increased its holdings in Southern Copper by 100.6% in the third quarter. Signaturefd LLC now owns 1,344 shares of the basic materials company’s stock valued at $46,000 after buying an additional 674 shares in the last quarter. Institutional investors own 6.25% of the company’s stock.
Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, October 25th. The basic materials company reported $0.50 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.50. Southern Copper had a net margin of 20.68% and a return on equity of 21.86%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. As a group, analysts expect that Southern Copper will post 2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is currently 80.00%.
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 and lead.
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