Southern Copper (NYSE:SCCO) Upgraded by JPMorgan Chase & Co. to Neutral Rating

JPMorgan Chase & Co. upgraded shares of Southern Copper (NYSE:SCCO) from an underweight rating to a neutral rating in a report released on Monday, Marketbeat Ratings reports. The firm currently has $92.50 price target on the basic materials company’s stock.

A number of other equities analysts have also recently weighed in on SCCO. Scotiabank lowered their price target 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. Morgan Stanley lifted their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Finally, Citigroup increased their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and an average price target of $94.56.

Southern Copper Stock Performance

NYSE SCCO opened at $100.05 on Monday. Southern Copper has a fifty-two week low of $70.92 and a fifty-two week high of $129.79. The firm has a market capitalization of $78.59 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 1.55 and a beta of 1.18. The stock’s fifty day moving average is $110.08 and its two-hundred day moving average is $108.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

Southern Copper Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were issued a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s payout ratio is currently 72.16%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SCCO. Franklin Resources Inc. increased its stake in Southern Copper by 27.7% in the third quarter. Franklin Resources Inc. now owns 108,633 shares of the basic materials company’s stock valued at $12,772,000 after purchasing an additional 23,539 shares during the period. Tidal Investments LLC increased its holdings in shares of Southern Copper by 30.8% in the third quarter. Tidal Investments LLC now owns 71,376 shares of the basic materials company’s stock valued at $8,256,000 after purchasing an additional 16,805 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Southern Copper by 488.9% during the third quarter. Sanctuary Advisors LLC now owns 30,787 shares of the basic materials company’s stock worth $3,561,000 after purchasing an additional 25,559 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Southern Copper during the third quarter worth $202,000. Finally, Geode Capital Management LLC grew its position in Southern Copper by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company’s stock valued at $70,437,000 after buying an additional 20,204 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

About Southern Copper

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.