Southern Copper Corporation (NYSE:SCCO) Receives Consensus Rating of "Reduce" from Brokerages

Shares of Southern Copper Corporation (NYSE:SCCO - Get Free Report) have received a consensus rating of "Reduce" from the thirteen research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $121.6111.

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A number of brokerages recently weighed in on SCCO. Weiss Ratings reissued a "buy (b)" rating on shares of Southern Copper in a report on Monday, December 8th. Jefferies Financial Group set a $155.00 price objective on shares of Southern Copper and gave the stock a "buy" rating in a report on Monday, October 6th. Citigroup reaffirmed a "sell" rating and issued a $108.00 price objective (up previously from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Southern Copper from a "hold" rating to a "buy" rating in a research report on Saturday, December 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Southern Copper from $92.00 to $114.50 and gave the company a "neutral" rating in a research report on Monday, October 27th.

Get Our Latest Analysis on SCCO

Insider Buying and Selling

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In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business's stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total value of $55,600.00. Following the completion of the sale, the director owned 1,265 shares in the company, valued at approximately $175,835. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 948 shares of company stock valued at $131,130. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Swiss Life Asset Management Ltd boosted its position in Southern Copper by 27.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 8,823 shares of the basic materials company's stock valued at $1,071,000 after buying an additional 1,927 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Southern Copper by 62.5% during the third quarter. CIBC Private Wealth Group LLC now owns 1,108 shares of the basic materials company's stock worth $134,000 after purchasing an additional 426 shares during the period. First Commonwealth Financial Corp PA bought a new stake in shares of Southern Copper in the third quarter worth about $205,000. Advisory Services Network LLC increased its holdings in Southern Copper by 11.7% during the 3rd quarter. Advisory Services Network LLC now owns 4,652 shares of the basic materials company's stock valued at $565,000 after purchasing an additional 486 shares during the period. Finally, Greenline Partners LLC raised its position in Southern Copper by 6.1% during the 3rd quarter. Greenline Partners LLC now owns 107,906 shares of the basic materials company's stock valued at $13,095,000 after purchasing an additional 6,191 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Price Performance

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SCCO stock opened at $142.42 on Friday. The firm has a 50 day simple moving average of $133.64 and a two-hundred day simple moving average of $112.20. The stock has a market cap of $115.67 billion, a PE ratio of 29.86, a P/E/G ratio of 1.33 and a beta of 1.07. Southern Copper has a one year low of $74.84 and a one year high of $149.75. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.09. The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. On average, analysts predict that Southern Copper will post 4.66 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Wednesday, November 12th were issued a dividend of $0.90 per share. The ex-dividend date was Wednesday, November 12th. This represents a $3.60 annualized dividend and a yield of 2.5%. Southern Copper's dividend payout ratio is currently 75.47%.

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.

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