Teacher Retirement System of Texas Purchases Shares of 28,219 Southern Copper Corporation (NYSE:SCCO)

Teacher Retirement System of Texas bought a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,219 shares of the basic materials company's stock, valued at approximately $2,637,000.

Several other institutional investors also recently modified their holdings of SCCO. Proficio Capital Partners LLC bought a new position in shares of Southern Copper in the fourth quarter valued at approximately $84,000. Charles Schwab Investment Management Inc. lifted its stake in Southern Copper by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company's stock valued at $21,638,000 after purchasing an additional 4,889 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Southern Copper in the fourth quarter valued at approximately $8,420,000. PNC Financial Services Group Inc. lifted its stake in Southern Copper by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,367 shares of the basic materials company's stock valued at $1,583,000 after purchasing an additional 412 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake 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. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Performance

Shares of NYSE:SCCO traded down $1.21 during trading on Friday, hitting $101.06. 473,305 shares of the company were exchanged, compared to its average volume of 1,246,133. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.71 and a quick ratio of 3.22. Southern Copper Corporation has a 52-week low of $74.11 and a 52-week high of $118.64. The company has a market cap of $80.46 billion, a PE ratio of 22.12, a P/E/G ratio of 2.29 and a beta of 1.02. The stock has a 50 day moving average of $95.35 and a 200 day moving average of $93.43.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. As a group, equities research analysts predict that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several research analyst reports. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. dropped their price objective on Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Finally, UBS Group downgraded Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective on the stock. in a research note on Tuesday, July 1st. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $91.60.

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.