Scotiabank Estimates Southern Copper FY2024 Earnings

Southern Copper Co. (NYSE:SCCO) – Investment analysts at Scotiabank issued their FY2024 earnings estimates for shares of Southern Copper in a research report issued on Wednesday, January 8th. Scotiabank analyst A. Salazar anticipates that the basic materials company will post earnings per share of $4.48 for the year. Scotiabank has a “Sector Underperform” rating and a $52.00 price target on the stock. The consensus estimate for Southern Copper’s current full-year earnings is $4.45 per share. Scotiabank also issued estimates for Southern Copper’s FY2025 earnings at $4.71 EPS.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research note on Monday, December 2nd. Finally, Citigroup lifted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.81.

Southern Copper Stock Performance

SCCO opened at $95.28 on Monday. 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 stock has a market cap of $74.85 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.56 and a beta of 1.14. Southern Copper has a 12-month low of $77.14 and a 12-month high of $129.79. The business has a 50 day moving average of $98.55 and a 200-day moving average of $104.40.

Hedge Funds Weigh In On Southern Copper

A number of hedge funds have recently added to or reduced their stakes in the stock. Alaska Permanent Fund Corp raised its position in shares of Southern Copper by 0.6% in the 4th quarter. Alaska Permanent Fund Corp now owns 70,334 shares of the basic materials company’s stock valued at $6,410,000 after buying an additional 432 shares in the last quarter. Outlook Wealth Advisors LLC increased its stake in Southern Copper by 13.0% in the fourth quarter. Outlook Wealth Advisors LLC now owns 3,722 shares of the basic materials company’s stock valued at $339,000 after acquiring an additional 427 shares during the last quarter. 180 Wealth Advisors LLC raised its position in Southern Copper by 3.6% during the fourth quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company’s stock valued at $370,000 after purchasing an additional 140 shares in the last quarter. Wedmont Private Capital lifted its stake in Southern Copper by 16.7% during the fourth quarter. Wedmont Private Capital now owns 2,529 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 361 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in shares of Southern Copper by 3.7% in the 4th quarter. ORG Partners LLC now owns 11,389 shares of the basic materials company’s stock valued at $1,040,000 after purchasing an additional 411 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Announces Dividend

The firm also recently announced a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s payout ratio is presently 72.16%.

Southern Copper Company Profile

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.