Southern Copper Co. (NYSE:SCCO) Receives Consensus Rating of "Reduce" from Analysts

Shares of Southern Copper Co. (NYSE:SCCO - Get Free Report) have earned an average recommendation of "Reduce" from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $94.56.

Several analysts recently issued reports on SCCO shares. JPMorgan Chase & Co. upgraded shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective on the stock in a report on Monday. Scotiabank reduced their price objective on shares of Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating on the stock in a report on Tuesday, October 15th. Citigroup boosted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley lifted their target price on Southern Copper from $97.00 to $100.00 and gave the company an "underweight" rating in a research report on Thursday, September 19th.

Hedge Funds Weigh In On Southern Copper

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC lifted its stake in Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock worth $342,796,000 after purchasing an additional 283,562 shares during the last quarter. State Street Corp lifted its stake in Southern Copper by 1.0% in the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company's stock valued at $315,641,000 after buying an additional 27,358 shares during the last quarter. Empower Advisory Group LLC lifted its stake in Southern Copper by 3.3% in the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company's stock valued at $116,140,000 after buying an additional 32,314 shares during the last quarter. Marathon Asset Management Ltd lifted its stake in Southern Copper by 2.9% in the third quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company's stock valued at $91,226,000 after buying an additional 22,437 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Southern Copper by 0.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company's stock valued at $67,939,000 after buying an additional 4,580 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Down 0.1 %

SCCO traded down $0.11 on Wednesday, hitting $101.22. The company had a trading volume of 598,256 shares, compared to its average volume of 1,127,925. The firm has a market cap of $79.51 billion, a P/E ratio of 26.22, a PEG ratio of 1.55 and a beta of 1.14. Southern Copper has a 1 year low of $70.92 and a 1 year high of $129.79. The company's fifty day moving average price is $109.72 and its 200 day moving average price is $107.97. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.

Southern Copper Announces Dividend

The business also recently disclosed a -- dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were given a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper's dividend payout ratio is presently 72.09%.

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.