Southern Copper (NYSE:SCCO) Given a $32.00 Price Target at JPMorgan Chase & Co.

JPMorgan Chase & Co. set a $32.00 price objective on Southern Copper (NYSE:SCCO) in a research report sent to investors on Wednesday morning, TipRanks reports. The brokerage currently has a hold rating on the basic materials company’s stock.

A number of other equities analysts also recently weighed in on SCCO. Macquarie began coverage on shares of Southern Copper in a research note on Wednesday, July 10th. They set an underperform rating and a $35.00 target price for the company. Bank of America reaffirmed a buy rating and set a $46.00 target price on shares of Southern Copper in a research note on Thursday, August 15th. Zacks Investment Research downgraded shares of Southern Copper from a strong-buy rating to a hold rating and set a $160.00 target price for the company. in a research note on Tuesday, June 4th. Finally, ValuEngine upgraded shares of Southern Copper from a sell rating to a hold rating in a report on Monday, June 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Southern Copper currently has a consensus rating of Hold and an average price target of $53.60.

Shares of NYSE SCCO traded down $0.07 on Wednesday, reaching $30.10. 33,285 shares of the company’s stock traded hands, compared to its average volume of 891,815. Southern Copper has a 12 month low of $29.01 and a 12 month high of $45.98. The business’s 50 day simple moving average is $34.83 and its two-hundred day simple moving average is $36.39. The company has a market cap of $23.05 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 0.98 and a beta of 0.89. The company has a quick ratio of 1.46, a current ratio of 2.24 and a debt-to-equity ratio of 0.82.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date was Wednesday, August 7th. Southern Copper’s payout ratio is 80.00%.

Several large investors have recently bought and sold shares of SCCO. Steward Partners Investment Advisory LLC purchased a new stake in shares of Southern Copper during the second quarter valued at approximately $31,000. Toronto Dominion Bank purchased a new stake in shares of Southern Copper during the first quarter valued at approximately $32,000. NEXT Financial Group Inc purchased a new stake in Southern Copper in the second quarter worth approximately $49,000. Coastal Investment Advisors Inc. boosted its holdings in Southern Copper by 63.8% in the second quarter. Coastal Investment Advisors Inc. now owns 1,310 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 510 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Southern Copper in the first quarter worth approximately $55,000. Hedge funds and other institutional investors own 6.50% 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.

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Analyst Recommendations for Southern Copper (NYSE:SCCO)

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