Southern Copper Corporation (SCCO) Given Average Recommendation of “Hold” by Brokerages
Southern Copper Corporation (NYSE:SCCO) has earned an average recommendation of “Hold” from the twelve research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $32.32.
Several brokerages have recently weighed in on SCCO. Cowen and Company reissued a “hold” rating and issued a $39.00 price target on shares of Southern Copper Corporation in a research note on Wednesday, July 19th. BidaskClub raised Southern Copper Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, FBR & Co decreased their target price on Southern Copper Corporation from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, June 16th.
Southern Copper Corporation (NYSE:SCCO) opened at 39.28 on Friday. Southern Copper Corporation has a 12 month low of $24.90 and a 12 month high of $39.94. The company has a market cap of $30.36 billion, a price-to-earnings ratio of 30.88 and a beta of 0.55. The company has a 50-day moving average of $36.66 and a 200-day moving average of $36.20.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a $0.14 dividend. This is an increase from Southern Copper Corporation’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, August 7th. Southern Copper Corporation’s dividend payout ratio (DPR) is currently 43.75%.
In other news, Chairman German Larrea Mota Velasco sold 135,000 shares of Southern Copper Corporation stock in a transaction on Monday, July 31st. The stock was sold at an average price of $39.44, for a total value of $5,324,400.00. Following the completion of the transaction, the chairman now directly owns 3,737,967 shares in the company, valued at $147,425,418.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 900,670 shares of company stock valued at $35,575,771. 0.53% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Southern Copper Corporation by 406.0% in the first quarter. JPMorgan Chase & Co. now owns 108,608 shares of the basic materials company’s stock valued at $3,899,000 after buying an additional 87,142 shares during the period. Credit Suisse AG raised its stake in shares of Southern Copper Corporation by 4.2% in the first quarter. Credit Suisse AG now owns 396,048 shares of the basic materials company’s stock valued at $14,214,000 after buying an additional 15,945 shares during the period. Denali Advisors LLC raised its stake in shares of Southern Copper Corporation by 6.8% in the first quarter. Denali Advisors LLC now owns 558,500 shares of the basic materials company’s stock valued at $20,045,000 after buying an additional 35,397 shares during the period. M&T Bank Corp raised its stake in Southern Copper Corporation by 1.4% in the first quarter. M&T Bank Corp now owns 29,912 shares of the basic materials company’s stock worth $1,073,000 after buying an additional 400 shares during the period. Finally, Sit Investment Associates Inc. raised its stake in Southern Copper Corporation by 14.3% in the first quarter. Sit Investment Associates Inc. now owns 3,200 shares of the basic materials company’s stock worth $115,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 6.32% of the company’s stock.
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Southern Copper Corporation Company Profile
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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