Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stake in Southern Copper Co. (NYSE:SCCO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,175 shares of the basic materials company's stock after acquiring an additional 5,052 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Southern Copper were worth $7,124,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB raised its stake in Southern Copper by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company's stock valued at $9,969,000 after purchasing an additional 14,391 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Southern Copper by 384.4% in the third quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company's stock valued at $10,430,000 after buying an additional 71,558 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock valued at $162,283,000 after buying an additional 599,610 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Southern Copper by 22.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company's stock worth $12,487,000 after buying an additional 24,933 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new position in Southern Copper during the third quarter worth about $1,397,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

Remove Ads

Southern Copper Trading Down 3.7 %

Southern Copper stock traded down $3.79 during midday trading on Wednesday, reaching $97.69. 1,939,844 shares of the stock traded hands, compared to its average volume of 1,166,669. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market cap of $77.78 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The company has a 50-day simple moving average of $94.48 and a two-hundred day simple moving average of $100.70. Southern Copper Co. has a 12-month low of $84.33 and a 12-month high of $127.34.

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 analysts' consensus estimates 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 expect 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. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 2.87%. Southern Copper's dividend payout ratio (DPR) is 64.81%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SCCO. UBS Group raised shares of Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 target price on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective on the stock in a research note on Monday, December 2nd. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, Scotiabank boosted their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Southern Copper has a consensus rating of "Hold" and a consensus target price of $94.42.

Southern Copper 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.