Teacher Retirement System of Texas Makes New $2.64 Million Investment in Southern Copper Corporation (NYSE:SCCO)

Teacher Retirement System of Texas acquired a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,219 shares of the basic materials company's stock, valued at approximately $2,637,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors lifted its holdings in Southern Copper by 0.6% in the fourth quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company's stock worth $385,684,000 after acquiring an additional 24,787 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Southern Copper by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock worth $337,260,000 after acquiring an additional 15,037 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Southern Copper by 10.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,354,637 shares of the basic materials company's stock worth $123,448,000 after acquiring an additional 130,710 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Southern Copper by 6.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,280,286 shares of the basic materials company's stock worth $116,672,000 after acquiring an additional 78,769 shares during the last quarter. Finally, FIL Ltd lifted its holdings in Southern Copper by 0.3% in the fourth quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company's stock worth $106,734,000 after acquiring an additional 3,045 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Southern Copper Stock Performance

Shares of SCCO traded down $0.66 during mid-day trading on Friday, reaching $101.60. 1,176,031 shares of the company's stock traded hands, compared to its average volume of 1,251,491. Southern Copper Corporation has a 12 month low of $74.11 and a 12 month high of $118.64. The stock has a market capitalization of $80.89 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.33 and a beta of 1.02. The business's 50-day moving average price is $95.58 and its 200-day moving average price is $93.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71.

Southern Copper (NYSE:SCCO - Get Free Report) last released its 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 firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. Equities analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

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

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.