Southern Copper Co. (NYSE:SCCO) Stock Position Boosted by California State Teachers Retirement System

California State Teachers Retirement System raised its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 97.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,512 shares of the basic materials company's stock after buying an additional 93,261 shares during the period. California State Teachers Retirement System's holdings in Southern Copper were worth $17,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. purchased a new position in Southern Copper in the 4th quarter valued at about $30,000. Deseret Mutual Benefit Administrators increased its position in shares of Southern Copper by 210.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after acquiring an additional 257 shares during the last quarter. IFP Advisors Inc increased its position in shares of Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after acquiring an additional 281 shares during the last quarter. Spire Wealth Management acquired a new stake in Southern Copper in the fourth quarter valued at $47,000. Finally, Larson Financial Group LLC raised its holdings 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 acquiring an additional 114 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on SCCO shares. JPMorgan Chase & Co. cut their price target on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Scotiabank increased their target price on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a report on Monday, March 10th. Finally, UBS Group dropped their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $91.50.

Southern Copper Stock Performance

Shares of Southern Copper stock traded up $1.63 during trading on Monday, hitting $92.54. 620,198 shares of the stock were exchanged, compared to its average volume of 1,190,674. The stock's fifty day moving average is $89.45 and its 200 day moving average is $93.60. The stock has a market cap of $73.67 billion, a PE ratio of 21.40, a P/E/G ratio of 1.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 12 month low of $74.11 and a 12 month high of $118.64.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, sell-side analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Announces Dividend

The business also recently announced 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 of this dividend was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's dividend payout ratio is presently 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.