Southern Copper (SCCO) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Southern Copper (NYSE: SCCO) recently:

• 4/30/2024 – Southern Copper had its price target raised by analysts at Morgan Stanley from $123.00 to $135.00. They now have an “underweight” rating on the stock.
• 4/29/2024 – Southern Copper was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/24/2024 – Southern Copper is now covered by analysts at CICC Research. They set an “outperform” rating on the stock.
• 4/22/2024 – Southern Copper was downgraded by analysts at HSBC Holdings plc from a “hold” rating to a “reduce” rating. They now have a $80.00 price target on the stock.
• 4/18/2024 – Southern Copper had its price target raised by analysts at Scotiabank from $53.00 to $55.00. They now have a “sector underperform” rating on the stock.
• 3/22/2024 – Southern Copper had its price target raised by analysts at The Goldman Sachs Group, Inc. from $61.00 to $82.00. They now have a “sell” rating on the stock.
• 3/22/2024 – Southern Copper was upgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to a “buy” rating. They now have a $130.00 price target on the stock, up previously from $91.00.
• 3/21/2024 – Southern Copper had its price target lowered by analysts at JPMorgan Chase & Co. from $63.50 to $61.00. They now have an “underweight” rating on the stock.

Southern Copper Price Performance

Southern Copper stock opened at $115.14 on Thursday. The company’s 50 day simple moving average is $101.87 and its 200-day simple moving average is $86.56. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $121.00. The company has a market capitalization of $89.02 billion, a price-to-earnings ratio of 37.88, a price-to-earnings-growth ratio of 3.29 and a beta of 1.27.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a net margin of 24.20% and a return on equity of 30.29%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. As a group, equities research analysts expect that Southern Copper Co. will post 4.01 earnings per share for the current year.

Southern Copper Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Tuesday, May 7th. Southern Copper’s dividend payout ratio (DPR) is 105.26%.

Insider Buying and Selling at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now directly owns 4,614 shares in the company, valued at approximately $546,759. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 600 shares of company stock valued at $63,430 in the last three months. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Southern Copper

Several large investors have recently bought and sold shares of SCCO. Riverview Trust Co acquired a new stake in shares of Southern Copper in the 1st quarter valued at $27,000. Fortis Group Advisors LLC increased its holdings in Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after buying an additional 151 shares during the last quarter. Hartford Financial Management Inc. acquired a new stake in Southern Copper in the third quarter valued at $25,000. Viking Fund Management LLC acquired a new stake in Southern Copper in the fourth quarter valued at $31,000. Finally, Venturi Wealth Management LLC lifted its holdings in Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

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.