Bank of New York Mellon Corp Raises Holdings in Southern Copper Corporation (NYSE:SCCO)

Bank of New York Mellon Corp increased its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,336 shares of the basic materials company's stock after acquiring an additional 8,995 shares during the quarter. Bank of New York Mellon Corp's holdings in Southern Copper were worth $25,079,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SCCO. Capital World Investors raised its holdings in shares of 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 valued at $385,684,000 after purchasing an additional 24,787 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 15,037 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 valued at $123,448,000 after acquiring an additional 130,710 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 valued at $116,672,000 after acquiring an additional 78,769 shares during the period. Finally, FIL Ltd lifted its position in Southern Copper by 0.3% during the fourth quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company's stock valued at $106,734,000 after purchasing an additional 3,045 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. reduced their price objective on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. UBS Group downgraded shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price on the stock. in a research report on Tuesday, July 1st. Morgan Stanley cut shares of Southern Copper from an "equal weight" rating to an "underweight" rating and upped their target price for the company from $86.00 to $99.00 in a research note on Tuesday. Finally, Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, Southern Copper currently has an average rating of "Hold" and an average target price of $91.00.

Southern Copper Price Performance

SCCO traded down $0.03 during trading on Thursday, reaching $96.63. 1,053,660 shares of the company traded hands, compared to its average volume of 1,254,907. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71. The company has a market cap of $76.94 billion, a P/E ratio of 21.14, a PEG ratio of 2.22 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 firm has a fifty day simple moving average of $96.14 and a 200 day simple moving average of $93.57.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating 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%. On average, equities analysts forecast that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, May 19th. Stockholders 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 dividend yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is 61.27%.

About Southern Copper

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.