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Beacon Investment Advisory Services Inc. Increases Stake in Southern Copper Corporation (NYSE:SCCO)

Southern Copper logo with Basic Materials background

Beacon Investment Advisory Services Inc. raised its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,858 shares of the basic materials company's stock after purchasing an additional 4,258 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Southern Copper were worth $5,034,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SCCO. Norges Bank acquired a new position in shares of Southern Copper during the 4th quarter worth $52,738,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Southern Copper during the 4th quarter worth $40,226,000. Renaissance Technologies LLC grew its stake in shares of Southern Copper by 1,417.7% during the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock worth $37,173,000 after purchasing an additional 381,035 shares during the period. Northern Trust Corp grew its stake in shares of Southern Copper by 44.9% during the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock worth $104,484,000 after purchasing an additional 355,013 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Southern Copper by 49.6% during the 4th quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock worth $91,032,000 after purchasing an additional 331,319 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SCCO shares. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. UBS Group cut 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 note on Tuesday, July 1st. Morgan Stanley reissued an "underweight" rating and issued a $99.00 price objective (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Finally, Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $91.00.

View Our Latest Research Report on SCCO

Southern Copper Trading Down 1.3%

Shares of NYSE SCCO traded down $1.26 during midday trading on Friday, reaching $98.22. 992,994 shares of the stock were exchanged, compared to its average volume of 1,425,431. The company has a market capitalization of $78.20 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.59 and a beta of 1.02. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $121.44. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average price of $96.97 and a 200-day moving average price of $93.84.

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

Southern Copper Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.01 per share. This is a positive change from Southern Copper's previous -- dividend of $0.62. This represents a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. Southern Copper's dividend payout ratio is presently 61.27%.

About Southern Copper

(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.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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