Southern Copper (NYSE:SCCO) Price Target Cut to $83.50 by Analysts at JPMorgan Chase & Co.

Southern Copper (NYSE:SCCO - Free Report) had its price target trimmed by JPMorgan Chase & Co. from $84.00 to $83.50 in a report published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the basic materials company's stock.

Other analysts have also issued reports about the stock. UBS Group upgraded shares of Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price target on the stock in a research report on Thursday, March 13th. Scotiabank boosted their price target on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Southern Copper has an average rating of "Hold" and an average price target of $89.58.

Southern Copper Trading Up 0.3 %

Shares of Southern Copper stock traded up $0.28 during trading on Monday, hitting $86.47. The stock had a trading volume of 1,058,290 shares, compared to its average volume of 1,224,272. The stock has a 50 day simple moving average of $91.36 and a 200 day simple moving average of $98.42. 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 has a 1 year low of $74.84 and a 1 year high of $127.34. The company has a market capitalization of $68.84 billion, a PE ratio of 20.01, a P/E/G ratio of 1.90 and a beta of 1.04.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, research analysts expect that Southern Copper will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This is a boost from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.24%. Southern Copper's dividend payout ratio is 64.81%.

Institutional Investors Weigh In On Southern Copper

Several institutional investors have recently added to or reduced their stakes in SCCO. Larson Financial Group LLC lifted its position in shares of Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after purchasing an additional 114 shares in the last quarter. Cadence Wealth Management LLC raised its stake in Southern Copper by 4.1% in the fourth quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company's stock valued at $266,000 after buying an additional 116 shares during the period. Tyche Wealth Partners LLC increased its holdings in shares of Southern Copper by 0.6% in the fourth quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company's stock valued at $1,805,000 after purchasing an additional 122 shares during the last quarter. Yousif Capital Management LLC grew its stake in Southern Copper by 0.9% in the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company's stock valued at $1,311,000 after buying an additional 122 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in Southern Copper by 1.7% in the 4th quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company's stock valued at $733,000 after buying an additional 133 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Company Profile

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.