Shares of Southern Copper Corp (NYSE:SCCO) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $45.67.
Several analysts recently weighed in on SCCO shares. JPMorgan Chase & Co. upgraded shares of Southern Copper to a “sell” rating and set a $45.00 price target on the stock in a report on Tuesday, June 5th. Berenberg Bank reiterated a “sell” rating and issued a $39.00 price target on shares of Southern Copper in a report on Saturday, June 2nd. ValuEngine upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, June 6th. Finally, Scotiabank set a $40.00 price target on shares of Southern Copper and gave the company a “sell” rating in a report on Monday, August 6th.
A number of large investors have recently added to or reduced their stakes in SCCO. Principal Financial Group Inc. boosted its holdings in shares of Southern Copper by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 128,496 shares of the basic materials company’s stock valued at $6,962,000 after buying an additional 3,967 shares in the last quarter. Altman Advisors Inc. bought a new stake in shares of Southern Copper during the 2nd quarter valued at $204,000. Strs Ohio boosted its holdings in shares of Southern Copper by 39.3% during the 2nd quarter. Strs Ohio now owns 167,188 shares of the basic materials company’s stock valued at $7,836,000 after buying an additional 47,188 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Southern Copper by 434.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 458,248 shares of the basic materials company’s stock valued at $21,091,000 after buying an additional 372,532 shares in the last quarter. Finally, Madison Investment Holdings Inc. bought a new stake in shares of Southern Copper during the 2nd quarter valued at $3,996,000. Institutional investors and hedge funds own 7.50% of the company’s stock.
Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, August 1st. The basic materials company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.11). Southern Copper had a return on equity of 15.50% and a net margin of 13.78%. analysts anticipate that Southern Copper will post 2.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Investors of record on Wednesday, August 8th were issued a $0.40 dividend. The ex-dividend date was Monday, August 6th. This represents a $1.60 annualized dividend and a yield of 3.87%. This is a boost from Southern Copper’s previous quarterly dividend of $0.30.
About Southern Copper
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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 and lead.
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