Southern Copper Co. (NYSE:SCCO) Receives Consensus Recommendation of “Reduce” from Analysts

Southern Copper Co. (NYSE:SCCO) has been assigned a consensus recommendation of “Reduce” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $90.63.

SCCO has been the subject of a number of research reports. Morgan Stanley boosted their price target on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Citigroup upped their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Finally, Scotiabank lowered their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th.

Southern Copper Stock Down 1.7 %

Shares of NYSE:SCCO opened at $100.99 on Friday. Southern Copper has a 1 year low of $70.63 and a 1 year high of $129.79. The business has a 50 day simple moving average of $109.45 and a two-hundred day simple moving average of $109.84. The firm has a market capitalization of $79.33 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper Announces Dividend

The company also recently announced a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s payout ratio is currently 72.09%.

Institutional Investors Weigh In On Southern Copper

Several hedge funds have recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in Southern Copper by 395.1% in the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after buying an additional 30,966 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Southern Copper by 21.7% in the 1st quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock valued at $9,612,000 after acquiring an additional 16,111 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Southern Copper by 182.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock valued at $29,625,000 after acquiring an additional 179,590 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Southern Copper by 157.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 22,175 shares of the basic materials company’s stock valued at $2,362,000 after acquiring an additional 13,550 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Southern Copper by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after acquiring an additional 1,192,111 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

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.