Southern Copper Co. (NYSE:SCCO) has been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $53.19.
A number of analysts have weighed in on the company. Citigroup upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $70.00 target price on the stock in a research note on Tuesday, February 16th. Zacks Investment Research raised Southern Copper from a “hold” rating to a “strong-buy” rating and set a $76.00 price target on the stock in a research report on Friday, March 26th. Finally, UBS Group increased their price target on Southern Copper from $60.00 to $65.00 and gave the stock a “sell” rating in a research report on Monday, April 26th.
NYSE:SCCO traded down $1.59 during trading hours on Friday, reaching $75.56. The company had a trading volume of 17,068 shares, compared to its average volume of 1,203,182. The company has a current ratio of 3.73, a quick ratio of 2.89 and a debt-to-equity ratio of 0.93. Southern Copper has a 52 week low of $31.38 and a 52 week high of $83.29. The firm’s 50 day moving average price is $71.95 and its 200-day moving average price is $67.45. The firm has a market cap of $58.41 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 2.03 and a beta of 1.16.
Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Saturday, May 1st. The basic materials company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. Southern Copper had a return on equity of 18.67% and a net margin of 17.17%. The company had revenue of $2.53 billion for the quarter. On average, analysts forecast that Southern Copper will post 1.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 25th. Investors of record on Tuesday, May 11th will be given a dividend of $0.70 per share. The ex-dividend date is Monday, May 10th. This represents a $2.80 dividend on an annualized basis and a yield of 3.71%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is presently 145.83%.
In other Southern Copper news, Chairman German Larrea Mota Velasco sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $73.30, for a total value of $146,600.00. Following the completion of the sale, the chairman now owns 1,500,966 shares of the company’s stock, valued at $110,020,807.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders have sold 231,563 shares of company stock worth $18,016,911. 0.46% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of Southern Copper in the fourth quarter worth about $25,000. tru Independence LLC acquired a new position in Southern Copper during the fourth quarter worth $26,048,000. International Assets Investment Management LLC raised its position in Southern Copper by 100.9% in the first quarter. International Assets Investment Management LLC now owns 462 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 232 shares during the period. NEXT Financial Group Inc raised its position in Southern Copper by 125.0% in the first quarter. NEXT Financial Group Inc now owns 675 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 375 shares during the period. Finally, Sittner & Nelson LLC purchased a new stake in Southern Copper in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 6.93% of the company’s stock.
About Southern Copper
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.
Further Reading: Call Option
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What is the Difference Between Common Shares and Convertible Shares?
7 Outdoor Recreation Stocks For Growth And Dividends
If American’s liked outdoor activities before, they love them even more now. The COVID-19 pandemic has done many things, and one of them is reinvigorating American’s love of the outdoors. Data from across the industry shows a sustained uptick in revenue that has the entire complex moving higher.
The RV Industry Association, for example, reports shipments of RVs are up greater than 30% in 2020 and are expected to grow another 20% or more in 2021. If data from the two of the industry’s largest manufacturers are any indication, that forecast is very conservative.
And the gains aren’t limited to RVs. Everything that has anything to do with outdoor recreation is booming. Sales at Dicks Sporting Goods, an iconic brand for retail and the outdoors, has seen a sustained 20% increase in revenue since the 2nd quarter shutdowns. If anything, revenue in this sector is being held back by rapidly declining inventory and tight shipping conditions.
The stocks we are about to show all have something in common; the outdoors. Within the group, you will find everything from RVs to Radios and everything in between an outdoor enthusiast could need or want. Some pay dividends and some don’t, but all will deliver solid returns to investors in 2021.
View the “7 Outdoor Recreation Stocks For Growth And Dividends”.