Fintel reports that on April 24, 2024, CICC initiated coverage of Southern Copper (NYSE:SCCO) with a Outperform recommendation.
Analyst Price Forecast Suggests 23.59% Downside
As of April 17, 2024, the average one-year price target for Southern Copper is 83.43. The forecasts range from a low of 66.05 to a high of $136.50. The average price target represents a decrease of 23.59% from its latest reported closing price of 109.19.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Southern Copper is 11,403MM, an increase of 15.23%. The projected annual non-GAAP EPS is 3.78.
Southern Copper Declares $0.80 Dividend
On January 25, 2024 the company declared a regular quarterly dividend of $0.80 per share ($3.20 annualized). Shareholders of record as of February 13, 2024 received the payment on February 29, 2024. Previously, the company paid $1.00 per share.
At the current share price of 109.19 / share, the stocks dividend yield is {1}%.
The current dividend yield is 1.28 standard deviations below the historical average.
Additionally, the companys dividend payout ratio is {0}. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The companys 3-Year dividend growth rate is {0}%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 885 funds or institutions reporting positions in Southern Copper. This is an increase of 24 owner(s) or 2.79% in the last quarter. Average portfolio weight of all funds dedicated to SCCO is 0.24%, an increase of 1.06%. Total shares owned by institutions increased in the last three months by 3.30% to 67,154K shares. 
The put/call ratio of SCCO is 0.72, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 6,579K shares representing 0.85% ownership of the company. In its prior filing, the firm reported owning 6,787K shares , representing a decrease of 3.16%. The firm increased its portfolio allocation in SCCO by 1.61% over the last quarter.
Fisher Asset Management holds 3,350K shares representing 0.43% ownership of the company. In its prior filing, the firm reported owning 3,311K shares , representing an increase of 1.18%. The firm increased its portfolio allocation in SCCO by 7.85% over the last quarter.
Standard Life Aberdeen holds 3,041K shares representing 0.39% ownership of the company. In its prior filing, the firm reported owning 2,973K shares , representing an increase of 2.23%. The firm increased its portfolio allocation in SCCO by 86.32% over the last quarter.
Mawer Investment Management holds 2,250K shares representing 0.29% ownership of the company. In its prior filing, the firm reported owning 2,606K shares , representing a decrease of 15.83%. The firm decreased its portfolio allocation in SCCO by 5.33% over the last quarter.
Neuberger Berman Group holds 1,690K shares representing 0.22% ownership of the company. In its prior filing, the firm reported owning 571K shares , representing an increase of 66.22%. The firm increased its portfolio allocation in SCCO by 223.91% over the last quarter.
Southern Copper Background Information
(This description is provided by the company.)
Southern Copper Corporation is one of the largest integrated copper producers in the world and has the largest copper reserves of the industry. The company is a NYSE and Lima Stock Exchange listed company that is 88.9% owned by Grupo Mexico, a Mexican company listed on the Mexican Stock Exchange. The remaining 11.1% ownership interest is held by the international investment community. Southern Copper Corp. operates mining units and metallurgical facilities in Mexico, Peru and conduct exploration activities in Argentina, Chile, Ecuador, Mexico and Peru.
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