Analysts Set Southern Copper Co. (NYSE:SCCO) Price Target at $90.63

Southern Copper Co. (NYSE:SCCO) has been given a consensus rating of “Reduce” by the nine brokerages that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $90.63.

A number of research analysts recently commented on the stock. Scotiabank lowered 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 research report on Tuesday, October 15th. Morgan Stanley increased their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Finally, Citigroup upped their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd.

Hedge Funds Weigh In On Southern Copper

Several institutional investors have recently added to or reduced their stakes in SCCO. M&T Bank Corp increased its holdings in shares of Southern Copper by 0.5% during the third quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock worth $2,367,000 after buying an additional 105 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Southern Copper in the 3rd quarter valued at $7,735,000. Orion Portfolio Solutions LLC boosted its stake in Southern Copper by 2.7% in the third quarter. Orion Portfolio Solutions LLC now owns 16,751 shares of the basic materials company’s stock worth $1,938,000 after purchasing an additional 441 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Southern Copper by 48.4% during the third quarter. XTX Topco Ltd now owns 28,098 shares of the basic materials company’s stock worth $3,250,000 after purchasing an additional 9,167 shares during the last quarter. Finally, Wahed Invest LLC increased its stake in shares of Southern Copper by 17.1% in the third quarter. Wahed Invest LLC now owns 2,104 shares of the basic materials company’s stock valued at $243,000 after buying an additional 308 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Down 1.1 %

NYSE:SCCO opened at $99.22 on Friday. The stock has a fifty day simple moving average of $109.62 and a 200 day simple moving average of $109.71. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $77.94 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 1.04 and a beta of 1.18. Southern Copper has a 1-year low of $70.63 and a 1-year high of $129.79.

Southern Copper Announces Dividend

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be given a dividend of $0.62 per share. The ex-dividend date is Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 72.09%.

About Southern Copper

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.