Southern Copper Corp (NYSE:SCCO) shares hit a new 52-week high on Monday . The company traded as high as $46.69 and last traded at $46.42, with a volume of 2953 shares trading hands. The stock had previously closed at $45.19.
Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Southern Copper from a “hold” rating to a “strong-buy” rating and set a $46.00 target price for the company in a research report on Wednesday, July 29th. UBS Group upped their price objective on Southern Copper from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. cut Southern Copper from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $27.00 to $33.00 in a report on Monday, June 22nd. Citigroup downgraded Southern Copper from a “buy” rating to a “sell” rating in a research report on Monday, June 8th. Finally, Goldman Sachs Group lowered Southern Copper from a “buy” rating to a “neutral” rating and cut their target price for the stock from $47.00 to $41.00 in a research note on Tuesday, June 16th. Four research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Southern Copper has a consensus rating of “Hold” and a consensus price target of $38.14.
The company has a quick ratio of 3.23, a current ratio of 4.33 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average price of $42.26 and a 200 day moving average price of $36.12. The stock has a market cap of $35.99 billion, a PE ratio of 30.63, a P/E/G ratio of 2.32 and a beta of 1.11.
Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Tuesday, July 28th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.07. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.22 billion. Southern Copper had a return on equity of 17.10% and a net margin of 16.20%. As a group, research analysts predict that Southern Copper Corp will post 1.5 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.20. Southern Copper’s dividend payout ratio is 83.33%.
In related news, Director Bonilla Luis Miguel Palomino sold 1,400 shares of Southern Copper stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $45.10, for a total value of $63,140.00. Following the transaction, the director now directly owns 9,014 shares of the company’s stock, valued at $406,531.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SCCO. Balentine LLC increased its holdings in Southern Copper by 157.9% during the 2nd quarter. Balentine LLC now owns 673 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 412 shares during the period. Captrust Financial Advisors bought a new stake in shares of Southern Copper in the 2nd quarter worth approximately $29,000. Synovus Financial Corp purchased a new position in shares of Southern Copper during the first quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Southern Copper by 49.7% during the second quarter. Steward Partners Investment Advisory LLC now owns 907 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 301 shares in the last quarter. Finally, OmniStar Financial Group Inc. bought a new position in shares of Southern Copper during the first quarter valued at approximately $26,000. 6.88% of the stock is currently owned by institutional investors.
Southern Copper Company Profile (NYSE:SCCO)
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 and lead.
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