Wells Fargo & Company MN Cuts Stake in Southern Copper Co. (NYSE:SCCO)

Wells Fargo & Company MN decreased its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 187,126 shares of the basic materials company's stock after selling 42,587 shares during the quarter. Wells Fargo & Company MN's holdings in Southern Copper were worth $17,053,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SCCO. Nordea Investment Management AB boosted its position in shares of 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 worth $9,969,000 after buying an additional 14,391 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 599,610 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position 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 valued at $12,487,000 after purchasing an additional 24,933 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Southern Copper during the 3rd quarter worth approximately $1,397,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Southern Copper during the 4th quarter worth approximately $8,420,000. Institutional investors and hedge funds own 7.94% of the company's stock.

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Southern Copper Trading Down 0.9 %

NYSE:SCCO traded down $0.82 during trading hours on Tuesday, reaching $86.85. 1,256,692 shares of the company were exchanged, compared to its average volume of 1,225,115. The firm has a market cap of $69.15 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.90 and a beta of 1.04. The stock has a 50 day simple moving average of $91.78 and a 200 day simple moving average of $98.70. Southern Copper Co. has a 52-week low of $74.84 and a 52-week high of $127.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its earnings results 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%. As a group, analysts predict 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. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 annualized dividend and a yield of 3.22%. Southern Copper's dividend payout ratio (DPR) is presently 64.81%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group dropped their price target on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note on Monday. Finally, Scotiabank raised 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 note on Monday, March 10th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Southern Copper presently has a consensus rating of "Hold" and a consensus price target of $89.58.

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.