Southern Copper Corp (NYSE:SCCO) has been given an average rating of “Hold” by the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $40.26.
A number of research analysts have weighed in on SCCO shares. Santander lowered Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. 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 report on Friday, November 2nd. Citigroup lowered Southern Copper from a “neutral” rating to a “sell” rating and reduced their target price for the company from $43.00 to $33.00 in a report on Monday, November 12th. Bradesco Corretora raised Southern Copper from an “underperform” rating to a “hold” rating and reduced their target price for the company from $45.00 to $42.00 in a report on Tuesday, November 20th. Finally, HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $32.12 target price for the company. in a report on Sunday, December 2nd.
SCCO traded up $0.06 during trading hours on Friday, hitting $32.54. The stock had a trading volume of 979,855 shares, compared to its average volume of 1,068,874. Southern Copper has a 1 year low of $29.01 and a 1 year high of $58.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.71 and a quick ratio of 1.88.
The firm also recently declared a special dividend, which will be paid on Thursday, February 21st. Stockholders of record on Monday, February 11th will be given a dividend of $0.444 per share. The ex-dividend date is Friday, February 8th. This represents a dividend yield of 4.86%.
Institutional investors and hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC bought a new stake in shares of Southern Copper during the 4th quarter valued at about $74,000. Schroder Investment Management Group bought a new stake in shares of Southern Copper during the 2nd quarter valued at about $158,000. Riverhead Capital Management LLC bought a new stake in shares of Southern Copper during the 3rd quarter valued at about $252,000. Piedmont Investment Advisors Inc. boosted its position in shares of Southern Copper by 128.4% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 5,966 shares of the basic materials company’s stock valued at $257,000 after acquiring an additional 3,354 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Southern Copper by 424.9% during the 3rd quarter. Bessemer Group Inc. now owns 7,222 shares of the basic materials company’s stock valued at $312,000 after acquiring an additional 5,846 shares during the last quarter. Hedge funds and other institutional investors own 7.33% 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, 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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