General Pension Society PZU Joint Stock Co raised its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 377,587 shares of the basic materials company's stock after buying an additional 20,497 shares during the quarter. Southern Copper comprises approximately 11.8% of General Pension Society PZU Joint Stock Co's portfolio, making the stock its 2nd biggest position. General Pension Society PZU Joint Stock Co's holdings in Southern Copper were worth $35,289,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Southern Copper during the fourth quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators grew its holdings in shares of Southern Copper by 210.7% in 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 period. IFP Advisors Inc raised its position in Southern Copper by 143.4% in 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 period. Spire Wealth Management bought a new stake in Southern Copper during the fourth quarter valued at about $47,000. Finally, Larson Financial Group LLC increased its position 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 worth $48,000 after buying an additional 114 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on SCCO. Scotiabank upped their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. UBS Group cut their price objective on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $91.50.
View Our Latest Research Report on SCCO
Southern Copper Trading Up 3.6%
Shares of NYSE SCCO traded up $3.33 during midday trading on Thursday, hitting $97.07. The company's stock had a trading volume of 885,687 shares, compared to its average volume of 1,361,458. The business's 50 day moving average is $89.25 and its two-hundred day moving average is $93.55. Southern Copper Co. has a 12-month low of $74.84 and a 12-month high of $121.44. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market cap of $77.29 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.90 and a beta of 1.01.
Southern Copper (NYSE:SCCO - Get Free Report) last posted 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. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.05 billion. As a group, equities research analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.
Southern Copper Dividend Announcement
The company also recently declared 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. This represents a dividend yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper's payout ratio is 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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