Southern Copper (SCCO) Stock Price Down 10.5%

Southern Copper Corp (NYSE:SCCO)’s share price traded down 10.5% on Friday . The company traded as low as $31.17 and last traded at $32.12. 3,247,344 shares changed hands during trading, an increase of 223% from the average session volume of 1,004,819 shares. The stock had previously closed at $35.89.

A number of equities analysts have recently weighed in on the stock. UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Friday, November 2nd. Citigroup cut shares of Southern Copper from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $43.00 to $33.00 in a research note on Monday, November 12th. B. Riley lowered their price target on shares of Southern Copper from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 19th. Santander cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, Scotiabank set a $40.00 price target on shares of Southern Copper and gave the stock a “sell” rating in a research note on Monday, August 6th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Southern Copper currently has an average rating of “Hold” and a consensus price target of $44.56.

The company has a market cap of $27.74 billion, a P/E ratio of 23.31 and a beta of 0.67. The company has a current ratio of 2.71, a quick ratio of 1.88 and a debt-to-equity ratio of 0.90.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.02). The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.80 billion. Southern Copper had a net margin of 13.24% and a return on equity of 14.97%. As a group, research analysts anticipate that Southern Copper Corp will post 2.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th were paid a $0.40 dividend. The ex-dividend date was Tuesday, November 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.98%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its stake in Southern Copper by 6.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 18,758 shares of the basic materials company’s stock valued at $879,000 after acquiring an additional 1,196 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Southern Copper by 16.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 8,748 shares of the basic materials company’s stock valued at $410,000 after acquiring an additional 1,227 shares during the last quarter. CIBC Asset Management Inc grew its stake in Southern Copper by 4.9% in the 2nd quarter. CIBC Asset Management Inc now owns 33,580 shares of the basic materials company’s stock valued at $1,574,000 after acquiring an additional 1,558 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Southern Copper by 22.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,249 shares of the basic materials company’s stock valued at $442,000 after acquiring an additional 1,861 shares during the last quarter. Finally, Creative Planning grew its stake in Southern Copper by 12.4% in the 2nd quarter. Creative Planning now owns 17,806 shares of the basic materials company’s stock valued at $835,000 after acquiring an additional 1,958 shares during the last quarter. 7.80% of the stock is currently owned by hedge funds and other institutional investors.

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Southern Copper Company Profile (NYSE:SCCO)

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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