Scotiabank Comments on Southern Copper FY2024 Earnings

Southern Copper Co. (NYSE:SCCO - Free Report) - Equities researchers at Scotiabank issued their FY2024 EPS estimates for shares of Southern Copper in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst A. Salazar anticipates that the basic materials company will post earnings of $4.48 per share for the year. Scotiabank currently has a "Sector Underperform" rating and a $52.00 target price on the stock. The consensus estimate for Southern Copper's current full-year earnings is $4.45 per share. Scotiabank also issued estimates for Southern Copper's FY2025 earnings at $4.71 EPS.

Several other analysts have also recently issued reports on SCCO. Citigroup increased their target price on Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective on the stock in a research report on Monday, December 2nd. Finally, Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $94.81.

Southern Copper Stock Performance

Shares of SCCO stock opened at $94.58 on Monday. The firm has a market cap of $74.30 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 1.56 and a beta of 1.14. Southern Copper has a 52-week low of $77.14 and a 52-week 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. The company's 50 day moving average is $99.25 and its 200 day moving average is $104.58.

Southern Copper Dividend Announcement

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

Institutional Trading of Southern Copper

Several large investors have recently bought and sold shares of SCCO. JPMorgan Chase & Co. lifted its stake in shares of Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock worth $162,283,000 after buying an additional 599,610 shares during the period. Itau Unibanco Holding S.A. lifted its position in Southern Copper by 115,910.7% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company's stock worth $38,915,000 after acquiring an additional 336,141 shares during the period. Fisher Asset Management LLC grew its stake in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock valued at $342,796,000 after purchasing an additional 283,562 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Southern Copper by 11,510.5% in the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company's stock valued at $21,944,000 after purchasing an additional 188,082 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Southern Copper by 1,601.3% in the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company's stock worth $22,275,000 after purchasing an additional 181,252 shares during the last quarter. Hedge funds and other institutional investors own 7.94% 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, 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.