Southern Copper (NYSE:SCCO) Shares Gap Down – Here’s What Happened

Southern Copper Co. (NYSE:SCCO) shares gapped down prior to trading on Monday . The stock had previously closed at $117.64, but opened at $113.64. Southern Copper shares last traded at $116.96, with a volume of 142,861 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SCCO shares. Citigroup raised their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Finally, UBS Group began coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 target price on the stock. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Southern Copper currently has a consensus rating of “Hold” and a consensus target price of $90.88.

Southern Copper Trading Down 0.6 %

The firm has a market cap of $91.33 billion, a price-to-earnings ratio of 39.08, a PEG ratio of 1.22 and a beta of 1.18. The business has a fifty day moving average of $104.97 and a two-hundred day moving average of $109.87. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.09. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. As a group, equities analysts expect that Southern Copper Co. will post 4.5 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, August 9th. Southern Copper’s payout ratio is currently 79.73%.

Institutional Trading of Southern Copper

Several large investors have recently modified their holdings of the business. Ensign Peak Advisors Inc lifted its stake in Southern Copper by 1.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock valued at $1,138,000 after buying an additional 108 shares in the last quarter. Prudential PLC boosted its stake in shares of Southern Copper by 1.0% during the second quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock valued at $1,149,000 after acquiring an additional 109 shares during the last quarter. American Financial Advisors LLC boosted its stake in shares of Southern Copper by 1.0% during the second quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock valued at $1,262,000 after acquiring an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Southern Copper by 0.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock valued at $2,557,000 after purchasing an additional 118 shares during the last quarter. Finally, Wahed Invest LLC lifted its holdings in Southern Copper by 9.0% in the 4th quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock valued at $125,000 after purchasing an additional 120 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Company Profile

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.