Southern Copper (NYSE:SCCO) Price Target Raised to $125.00

Southern Copper (NYSE:SCCOFree Report) had its target price lifted by Scotiabank from $92.00 to $125.00 in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has a sector underperform rating on the basic materials company’s stock.

A number of other research analysts have also weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research note on Monday, December 29th. Wells Fargo & Company set a $182.00 price target on Southern Copper and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Citigroup reaffirmed a “sell” rating on shares of Southern Copper in a research report on Monday, January 12th. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Finally, UBS Group set a $148.00 price objective on shares of Southern Copper and gave the company a “sell” rating in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $135.65.

View Our Latest Stock Report on SCCO

Southern Copper Trading Up 4.9%

NYSE SCCO opened at $207.82 on Tuesday. The firm has a market capitalization of $168.79 billion, a PE ratio of 43.57, a P/E/G ratio of 1.68 and a beta of 1.06. The stock’s 50 day moving average is $155.25 and its 200 day moving average is $127.73. Southern Copper has a twelve month low of $74.84 and a twelve month high of $218.81. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64.

Southern Copper shares are scheduled to split on the morning of Tuesday, February 10th. The 1.0085-1 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Monday, February 9th.

Southern Copper (NYSE:SCCOGet Free Report) last issued its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The company had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. Research analysts forecast that Southern Copper will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th will be given a $1.00 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Southern Copper’s payout ratio is presently 75.47%.

Insider Transactions at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 400 shares of Southern Copper stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total value of $55,600.00. Following the completion of the sale, the director directly owned 1,265 shares in the company, valued at $175,835. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 748 shares of company stock worth $103,260. 0.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its stake in Southern Copper by 1.3% during the 4th quarter. ORG Partners LLC now owns 4,813 shares of the basic materials company’s stock valued at $691,000 after buying an additional 60 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Southern Copper by 0.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,500 shares of the basic materials company’s stock worth $1,220,000 after acquiring an additional 71 shares during the period. Avanza Fonder AB increased its position in Southern Copper by 0.8% during the fourth quarter. Avanza Fonder AB now owns 8,736 shares of the basic materials company’s stock valued at $1,253,000 after acquiring an additional 73 shares during the last quarter. Valley Brook Capital Group Inc. lifted its holdings in Southern Copper by 3.1% in the fourth quarter. Valley Brook Capital Group Inc. now owns 2,597 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 79 shares during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in Southern Copper by 1.8% in the fourth quarter. 180 Wealth Advisors LLC now owns 4,599 shares of the basic materials company’s stock valued at $660,000 after acquiring an additional 83 shares during the period. Institutional investors own 7.94% of the company’s stock.

Trending Headlines about Southern Copper

Here are the key news stories impacting Southern Copper this week:

Southern Copper Company Profile

(Get Free Report)

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

Further Reading

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.