Southern Copper Co. (NYSE:SCCO – Get Rating) has received a consensus recommendation of "Hold" from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $52.00.
A number of equities research analysts have issued reports on the stock. Wolfe Research downgraded shares of Southern Copper from a "peer perform" rating to an "underperform" rating in a research note on Thursday, July 7th. Morgan Stanley lowered their price objective on shares of Southern Copper from $66.00 to $52.00 and set an "underweight" rating for the company in a research report on Wednesday, June 22nd. The Goldman Sachs Group assumed coverage on Southern Copper in a report on Friday. They issued a "neutral" rating and a $65.00 target price on the stock. StockNews.com cut Southern Copper from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Barclays dropped their price objective on Southern Copper from $61.00 to $51.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 19th.
Get Southern Copper alerts:Southern Copper Stock Performance
SCCO opened at $47.45 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.58 and a current ratio of 3.29. Southern Copper has a 52-week low of $44.70 and a 52-week high of $79.32. The firm has a market cap of $36.68 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. The business's fifty day moving average is $52.83 and its 200-day moving average is $62.60.
Southern Copper Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be given a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $3.00 annualized dividend and a yield of 6.32%. Southern Copper's dividend payout ratio is presently 132.28%.Hedge Funds Weigh In On Southern Copper
Large investors have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Southern Copper in the fourth quarter valued at about $25,000. FNY Investment Advisers LLC bought a new position in Southern Copper in the first quarter valued at about $26,000. American Research & Management Co. acquired a new stake in shares of Southern Copper in the second quarter valued at about $26,000. Loomis Sayles & Co. L P acquired a new stake in shares of Southern Copper in the first quarter valued at about $29,000. Finally, Sawyer & Company Inc acquired a new stake in shares of Southern Copper in the first quarter valued at about $43,000. 6.83% of the stock is currently owned by institutional investors.
About Southern Copper
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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 and lead.
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