California State Teachers Retirement System Raises Stake in Southern Copper Co. (NYSE:SCCO)

California State Teachers Retirement System lifted its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 97.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 188,512 shares of the basic materials company's stock after acquiring 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 institutional investors have also made changes to their positions in the stock. Geneos Wealth Management Inc. bought a new stake in shares of Southern Copper during the fourth quarter valued at approximately $308,000. Blue Trust Inc. lifted its holdings in Southern Copper by 49.5% during the 4th quarter. Blue Trust Inc. now owns 7,295 shares of the basic materials company's stock worth $665,000 after purchasing an additional 2,416 shares during the last quarter. R Squared Ltd acquired a new position in Southern Copper in the 4th quarter valued at $93,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Southern Copper by 22.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company's stock worth $12,487,000 after acquiring an additional 24,933 shares during the last quarter. Finally, Strategic Advocates LLC raised its holdings in Southern Copper by 26.3% during the 4th quarter. Strategic Advocates LLC now owns 4,725 shares of the basic materials company's stock worth $431,000 after purchasing an additional 985 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on SCCO. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Scotiabank increased their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. 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. UBS Group lowered their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $91.50.

Southern Copper Trading Down 0.0%

Southern Copper stock traded down $0.02 during trading hours on Tuesday, reaching $92.43. The stock had a trading volume of 328,834 shares, compared to its average volume of 1,189,310. The stock has a market cap of $73.59 billion, a PE ratio of 21.39, a PEG ratio of 1.90 and a beta of 1.01. Southern Copper Co. has a 52 week low of $74.11 and a 52 week high of $118.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The company has a fifty day simple moving average of $89.35 and a 200-day simple moving average of $93.56.

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 for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. The firm had revenue of $3.12 billion for 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%. Analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently announced a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper's payout ratio 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.