Southern Copper Co. (NYSE:SCCO) Given Average Recommendation of “Strong Sell” by Brokerages

Southern Copper Co. (NYSE:SCCOGet Free Report) has been given an average rating of “Strong Sell” by the six brokerages that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $64.50.

A number of brokerages have recently issued reports on SCCO. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Morgan Stanley lowered shares of Southern Copper from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $83.00 to $68.00 in a research note on Monday, November 27th.

Read Our Latest Stock Analysis on Southern Copper

Hedge Funds Weigh In On Southern Copper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. raised its position in shares of Southern Copper by 3.4% in the second quarter. Vontobel Holding Ltd. now owns 9,137 shares of the basic materials company’s stock valued at $655,000 after buying an additional 303 shares during the last quarter. Marshall Wace LLP raised its position in shares of Southern Copper by 178.3% in the second quarter. Marshall Wace LLP now owns 563,758 shares of the basic materials company’s stock valued at $40,444,000 after buying an additional 361,208 shares during the last quarter. Truist Financial Corp increased its position in Southern Copper by 526.6% during the second quarter. Truist Financial Corp now owns 78,515 shares of the basic materials company’s stock worth $5,633,000 after purchasing an additional 65,984 shares during the last quarter. Hsbc Holdings PLC increased its position in Southern Copper by 101.0% during the second quarter. Hsbc Holdings PLC now owns 154,540 shares of the basic materials company’s stock worth $11,060,000 after purchasing an additional 77,670 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Southern Copper by 59.9% during the third quarter. Nisa Investment Advisors LLC now owns 63,102 shares of the basic materials company’s stock worth $4,751,000 after purchasing an additional 23,638 shares during the last quarter. 7.40% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Up 1.1 %

NYSE SCCO opened at $80.28 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.94 and a current ratio of 3.70. The company has a market capitalization of $62.07 billion, a price-to-earnings ratio of 25.57 and a beta of 1.29. The company’s 50-day simple moving average is $81.94 and its two-hundred day simple moving average is $78.31. Southern Copper has a one year low of $64.66 and a one year high of $88.40.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Tuesday, February 13th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Monday, February 12th. Southern Copper’s dividend payout ratio (DPR) is presently 127.39%.

About Southern Copper

(Get Free Report

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.

Read More

Analyst Recommendations for Southern Copper (NYSE:SCCO)

Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.