Southern Copper Co. (NYSE:SCCO) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,267,495 shares of the basic materials company's stock after selling 406,039 shares during the period. Bank of America Corp DE owned approximately 0.16% of Southern Copper worth $115,507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Larson Financial Group LLC boosted its holdings in Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 114 shares during the last quarter. Cadence Wealth Management LLC boosted its holdings in Southern Copper by 4.1% in the fourth quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company's stock valued at $266,000 after purchasing an additional 116 shares during the last quarter. Tyche Wealth Partners LLC raised its stake in Southern Copper by 0.6% during the fourth quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company's stock valued at $1,805,000 after buying an additional 122 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Southern Copper by 0.9% during the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company's stock worth $1,311,000 after buying an additional 122 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Southern Copper by 1.7% during the 4th quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company's stock worth $733,000 after buying an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Stock Performance

Shares of Southern Copper stock traded up $0.07 on Wednesday, reaching $93.36. 791,434 shares of the company were exchanged, compared to its average volume of 1,210,956. 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 company's 50-day moving average is $90.46 and its two-hundred day moving average is $95.25. The firm has a market cap of $74.33 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a 1-year low of $74.11 and a 1-year high of $126.09.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a $0.70 dividend. This represents a yield of 2.98%. The ex-dividend date of this dividend is Friday, May 2nd. Southern Copper's dividend payout ratio is currently 61.27%.

Analyst Ratings Changes

A number of research analysts have commented on SCCO shares. JPMorgan Chase & Co. reduced their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. StockNews.com raised Southern Copper from a "hold" rating to a "buy" rating in a report on Monday. UBS Group reduced their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Scotiabank increased their target price on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $91.50.

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.