Analysts Set Southern Copper Co. (NYSE:SCCO) Price Target at $97.31

Shares of Southern Copper Co. (NYSE:SCCO) have earned an average recommendation of “Reduce” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $97.31.

Several analysts have issued reports on the company. Scotiabank increased their target price on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Finally, UBS Group raised Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Thursday, March 13th.

Southern Copper Stock Down 0.3 %

Shares of NYSE:SCCO opened at $99.28 on Friday. Southern Copper has a 52-week low of $84.33 and a 52-week high of $127.34. The stock has a market cap of $79.05 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The business’s 50 day moving average is $94.14 and its 200 day moving average is $100.57. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. Sell-side analysts predict that Southern Copper will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a $0.70 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.82%. Southern Copper’s dividend payout ratio (DPR) is presently 64.81%.

Hedge Funds Weigh In On Southern Copper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Southern Copper in the 4th quarter worth $30,000. Deseret Mutual Benefit Administrators raised its stake in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 257 shares during the last quarter. IFP Advisors Inc raised its stake in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 281 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Southern Copper in the 3rd quarter worth $47,000. Finally, Larson Financial Group LLC raised its stake in Southern Copper by 578.3% in the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

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.