Brokerages Set Southern Copper Corporation (SCCO) Price Target at $35.33

Southern Copper Corporation (NYSE:SCCO) has been assigned an average rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $35.00.

Several brokerages have commented on SCCO. Barclays PLC upped their price objective on Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, August 9th. BidaskClub downgraded Southern Copper Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 23rd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $40.00 price objective on shares of Southern Copper Corporation in a research report on Monday. HSBC Holdings plc downgraded Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a research report on Wednesday, August 16th. Finally, Scotiabank downgraded Southern Copper Corporation from a “sector perform” rating to an “underperform” rating in a research report on Monday.



In other news, Chairman German Larrea Mota Velasco sold 504,800 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $39.51, for a total transaction of $19,944,648.00. Following the transaction, the chairman now owns 2,972,297 shares of the company’s stock, valued at approximately $117,435,454.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 900,670 shares of company stock worth $35,575,771 in the last three months. Corporate insiders own 0.53% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Southern Copper Corporation by 3.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,820 shares of the basic materials company’s stock worth $202,000 after buying an additional 200 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Southern Copper Corporation by 3.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,827 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 359 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Southern Copper Corporation by 7.1% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,507 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 500 shares during the last quarter. Waverton Investment Management Ltd lifted its stake in shares of Southern Copper Corporation by 3.8% during the 2nd quarter. Waverton Investment Management Ltd now owns 14,446 shares of the basic materials company’s stock worth $500,000 after purchasing an additional 528 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Southern Copper Corporation by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 279,380 shares of the basic materials company’s stock worth $9,675,000 after purchasing an additional 703 shares during the last quarter. 6.06% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Southern Copper Corporation (NYSE SCCO) traded down 1.71% on Friday, hitting $42.48. 916,983 shares of the stock traded hands. The firm has a market cap of $32.84 billion, a PE ratio of 33.40 and a beta of 0.53. Southern Copper Corporation has a 52-week low of $26.52 and a 52-week high of $44.69. The firm has a 50 day moving average price of $41.06 and a 200 day moving average price of $37.73.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.25 per share. This is an increase from Southern Copper Corporation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.35%. Southern Copper Corporation’s dividend payout ratio is presently 43.75%.

Southern Copper Corporation Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.

Analyst Recommendations for Southern Copper Corporation (NYSE:SCCO)

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