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

Shares of Southern Copper Co. (NYSE:SCCO) have earned a consensus rating of “Reduce” from the nine brokerages that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $94.81.

SCCO has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Citigroup raised their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target on the stock in a research note on Monday, December 2nd. Finally, Scotiabank reduced their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fisher Asset Management LLC raised its holdings in shares of Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after acquiring an additional 283,562 shares during the last quarter. State Street Corp increased its holdings in Southern Copper by 1.0% during the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock worth $315,641,000 after purchasing an additional 27,358 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after purchasing an additional 599,610 shares during the last quarter. Empower Advisory Group LLC lifted its holdings in shares of Southern Copper by 3.3% in the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after purchasing an additional 32,314 shares in the last quarter. Finally, Marathon Asset Management Ltd boosted its position in shares of Southern Copper by 2.9% during the third quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock valued at $91,226,000 after buying an additional 22,437 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Price Performance

Shares of SCCO opened at $92.16 on Friday. The business has a 50-day simple moving average of $101.48 and a two-hundred day simple moving average of $105.24. The stock has a market cap of $72.40 billion, a PE ratio of 23.73, a PEG ratio of 1.56 and a beta of 1.14. Southern Copper has a 12-month low of $77.14 and a 12-month high of $129.79. 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 Dividend Announcement

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

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.