Teacher Retirement System of Texas purchased a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 28,219 shares of the basic materials company's stock, valued at approximately $2,637,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC purchased a new stake in shares of Southern Copper in the first quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Southern Copper during the 4th quarter worth approximately $30,000. Larson Financial Group LLC boosted its stake in shares of Southern Copper by 28.0% during 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 period. Lee Danner & Bass Inc. bought a new position in Southern Copper in the 4th quarter worth about $60,000. Finally, Creative Financial Designs Inc. ADV raised its position in Southern Copper by 199.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 667 shares of the basic materials company's stock valued at $61,000 after purchasing an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.
Southern Copper Stock Down 3.2%
Shares of SCCO opened at $99.69 on Thursday. The firm has a market cap of $79.37 billion, a P/E ratio of 21.81, a PEG ratio of 2.36 and a beta of 1.02. Southern Copper Corporation has a 12 month low of $74.11 and a 12 month high of $118.64. The stock's 50 day moving average is $95.10 and its two-hundred day moving average is $93.37. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70.
Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.
Southern Copper Announces Dividend
The firm also recently declared a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a dividend of $0.70 per share. The ex-dividend date was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's payout ratio is presently 61.27%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on SCCO. Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. UBS Group downgraded shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective on the stock. in a research report on Tuesday, July 1st. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Southern Copper from $83.50 to $79.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $91.60.
Read Our Latest Stock Report on Southern Copper
Southern Copper Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Corporation (NYSE:SCCO - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Southern Copper, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Southern Copper wasn't on the list.
While Southern Copper currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
