Southern Copper Co. (NYSE:SCCO) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 58.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,015 shares of the basic materials company's stock after purchasing an additional 34,852 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Southern Copper were worth $8,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Southern Copper during the 4th quarter worth approximately $30,000. Deseret Mutual Benefit Administrators increased its holdings in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after acquiring an additional 257 shares in the last quarter. IFP Advisors Inc lifted its holdings in Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 281 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Southern Copper by 578.3% during the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company's stock worth $47,000 after purchasing an additional 347 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Southern Copper during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on SCCO shares. UBS Group raised Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price objective for the company in a research note on Thursday, March 13th. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their target price for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, Scotiabank boosted their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $94.42.

Southern Copper Trading Down 5.1 %

Shares of Southern Copper stock traded down $4.85 during trading hours on Thursday, hitting $89.51. The company's stock had a trading volume of 400,948 shares, compared to its average volume of 1,189,802. The stock has a market cap of $71.26 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a twelve month low of $84.33 and a twelve month 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 firm has a fifty day moving average of $94.18 and a 200-day moving average of $100.61.

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 (EPS) 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%. Research analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.13%. This is an increase from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper's payout ratio is 64.81%.

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, copper, molybdenum, silver, gold, and lead.