Southern Copper (SCCO) Upgraded at Santander

Santander upgraded shares of Southern Copper (NYSE:SCCO) from a hold rating to a buy rating in a research report released on Monday morning, The Fly reports.

SCCO has been the subject of several other reports. Zacks Investment Research raised shares of Southern Copper from a hold rating to a strong-buy rating and set a $50.00 price objective for the company in a research note on Saturday, October 28th. BidaskClub cut shares of Southern Copper from a strong-buy rating to a buy rating in a research note on Saturday, September 23rd. Cowen boosted their price objective on shares of Southern Copper from $39.00 to $48.00 and gave the company a market perform rating in a research note on Friday, November 3rd. Goldman Sachs Group reissued a neutral rating and set a $40.00 price objective on shares of Southern Copper in a research note on Monday, October 23rd. Finally, Scotiabank cut shares of Southern Copper from a sector perform rating to an underperform rating in a research report on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $39.86.

Southern Copper (SCCO) opened at $46.13 on Monday. Southern Copper has a twelve month low of $31.80 and a twelve month high of $46.31. The firm has a market capitalization of $34,793.99, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 0.80 and a beta of 0.62. The company has a quick ratio of 2.00, a current ratio of 3.01 and a debt-to-equity ratio of 0.90.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. This is a boost from Southern Copper’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, November 7th. Southern Copper’s dividend payout ratio is 78.13%.

A number of institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can boosted its position in Southern Copper by 3.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 60,238 shares of the basic materials company’s stock valued at $2,083,000 after buying an additional 1,900 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Southern Copper by 114.5% in the 2nd quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 1,971 shares in the last quarter. Sei Investments Co. raised its stake in shares of Southern Copper by 48.4% in the 2nd quarter. Sei Investments Co. now owns 16,873 shares of the basic materials company’s stock valued at $584,000 after purchasing an additional 5,505 shares in the last quarter. TD Asset Management Inc. acquired a new stake in shares of Southern Copper in the 2nd quarter valued at about $1,794,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Southern Copper by 7.1% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,507 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 500 shares in the last quarter. 6.33% of the stock is owned by hedge funds and other institutional investors.

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Southern Copper 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.

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