Southern Copper (SCCO) Hits New 12-Month Low at $31.11

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Southern Copper Corp (NYSE:SCCO) reached a new 52-week low on Friday . The company traded as low as $31.11 and last traded at $32.12, with a volume of 262681 shares. The stock had previously closed at $32.08.

A number of equities research analysts have recently weighed in on the company. B. Riley dropped their target price on Southern Copper from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, September 19th. Citigroup upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 target price for the company in a research report on Monday, October 8th. Santander downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Friday, November 2nd. Finally, Bradesco Corretora upgraded Southern Copper from an “underperform” rating to a “hold” rating and dropped their target price for the stock from $45.00 to $42.00 in a research report on Tuesday, November 20th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $42.26.

The firm has a market cap of $24.51 billion, a P/E ratio of 20.58 and a beta of 0.69. The company has a quick ratio of 1.88, a current ratio of 2.71 and a debt-to-equity ratio of 0.90.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.80 billion. Southern Copper had a net margin of 13.24% and a return on equity of 14.97%. Equities analysts expect that Southern Copper Corp will post 2.11 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th were issued 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 5.05%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCCO. Principal Financial Group Inc. increased its holdings in Southern Copper by 3.2% in the first quarter. Principal Financial Group Inc. now owns 128,496 shares of the basic materials company’s stock valued at $6,962,000 after purchasing an additional 3,967 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Southern Copper by 16.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,748 shares of the basic materials company’s stock valued at $410,000 after purchasing an additional 1,227 shares during the last quarter. Sei Investments Co. increased its holdings in Southern Copper by 18.3% in the second quarter. Sei Investments Co. now owns 270,507 shares of the basic materials company’s stock valued at $12,678,000 after purchasing an additional 41,836 shares during the last quarter. Strs Ohio increased its holdings in Southern Copper by 39.3% in the second quarter. Strs Ohio now owns 167,188 shares of the basic materials company’s stock valued at $7,836,000 after purchasing an additional 47,188 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Southern Copper by 434.6% in the second quarter. Russell Investments Group Ltd. now owns 458,248 shares of the basic materials company’s stock valued at $21,091,000 after purchasing an additional 372,532 shares during the last quarter. Institutional investors and hedge funds own 7.32% of the company’s stock.

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About Southern Copper (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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