Shares of Southern Copper Corp (NYSE:SCCO) have been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $45.00.
SCCO has been the subject of a number of recent research reports. Scotiabank set a $40.00 target price on Southern Copper and gave the stock a “sell” rating in a research note on Monday, August 6th. B. Riley cut their target price on Southern Copper from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, September 19th. Citigroup raised Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 target price for the company in a research note on Monday, October 8th. Santander downgraded Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, UBS Group raised Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Friday.
Shares of SCCO stock opened at $39.61 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.71 and a quick ratio of 1.88. Southern Copper has a fifty-two week low of $35.59 and a fifty-two week high of $58.09.
Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Southern Copper had a net margin of 13.24% and a return on equity of 14.97%. Equities research analysts predict that Southern Copper will post 2.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Tuesday, November 6th.
Several large investors have recently modified their holdings of SCCO. Piedmont Investment Advisors LLC acquired a new stake in shares of Southern Copper during the 2nd quarter worth about $122,000. Navellier & Associates Inc acquired a new stake in shares of Southern Copper during the 2nd quarter worth about $139,000. Schroder Investment Management Group acquired a new stake in shares of Southern Copper during the 2nd quarter worth about $158,000. Altman Advisors Inc. acquired a new stake in shares of Southern Copper during the 2nd quarter worth about $204,000. Finally, Cadence Capital Management LLC acquired a new stake in shares of Southern Copper during the 2nd quarter worth about $253,000. 7.97% of the stock is owned by hedge funds and other institutional investors.
About Southern Copper
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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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