Franklin Resources Inc. Trims Stock Position in Southern Copper Co. (NYSE:SCCO)

Franklin Resources Inc. lowered its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,736 shares of the basic materials company's stock after selling 5,897 shares during the period. Franklin Resources Inc.'s holdings in Southern Copper were worth $9,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. acquired a new position in Southern Copper in the 4th quarter valued at $30,000. Deseret Mutual Benefit Administrators increased its stake in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after purchasing an additional 257 shares during the period. IFP Advisors Inc grew its holdings in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after buying an additional 281 shares during the last quarter. Spire Wealth Management acquired a new position in shares of Southern Copper during the fourth quarter worth approximately $47,000. Finally, Larson Financial Group LLC increased its holdings in shares of Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after purchasing an additional 114 shares during the period. Institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

SCCO traded up $3.29 during midday trading on Monday, hitting $87.92. The stock had a trading volume of 189,557 shares, compared to its average volume of 1,218,100. Southern Copper Co. has a 1 year low of $74.84 and a 1 year high of $127.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The business has a fifty day moving average of $92.05 and a 200 day moving average of $99.00. The company has a market cap of $70.00 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

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Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, equities analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 annualized dividend and a yield of 3.18%. This is a boost from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's dividend payout ratio is currently 64.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group raised Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price target on the stock in a research report on Thursday, March 13th. Scotiabank raised their price target on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $94.42.

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.