Scotiabank Weighs in on Southern Copper FY2024 Earnings

Southern Copper Co. (NYSE:SCCO) – Research analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Southern Copper in a report released on Wednesday, January 8th. Scotiabank analyst A. Salazar forecasts that the basic materials company will earn $4.48 per share for the year. Scotiabank currently has a “Sector Underperform” rating and a $52.00 target price on the stock. The consensus estimate for Southern Copper’s current full-year earnings is $4.45 per share. Scotiabank also issued estimates for Southern Copper’s FY2025 earnings at $4.71 EPS.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Finally, Citigroup lifted their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Southern Copper has an average rating of “Hold” and an average price target of $94.81.

Southern Copper Stock Up 0.1 %

Shares of NYSE SCCO opened at $94.73 on Monday. The stock has a market capitalization of $74.41 billion, a P/E ratio of 24.39, a PEG ratio of 1.56 and a beta of 1.14. Southern Copper has a one year low of $77.14 and a one year high of $129.79. The firm’s 50 day simple moving average is $98.92 and its two-hundred day simple moving average is $104.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Hedge Funds Weigh In On Southern Copper

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. M&T Bank Corp raised its position in shares of Southern Copper by 0.5% in the 3rd quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock worth $2,367,000 after acquiring an additional 105 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in Southern Copper by 1.0% in the second quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 108 shares during the period. Tyche Wealth Partners LLC raised its holdings in Southern Copper by 0.6% in the third quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock worth $2,277,000 after purchasing an additional 109 shares in the last quarter. Greenwood Capital Associates LLC lifted its position in Southern Copper by 0.7% during the third quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock valued at $1,819,000 after buying an additional 112 shares during the period. Finally, Inspire Advisors LLC boosted its holdings in shares of Southern Copper by 3.9% during the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock valued at $347,000 after buying an additional 113 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Announces Dividend

The firm also recently announced a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were paid a $0.62 dividend. The ex-dividend date was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s payout ratio is presently 72.16%.

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.