Southern Copper Co. (NYSE:SCCO) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,306 shares of the basic materials company's stock after selling 3,643 shares during the period. Handelsbanken Fonder AB's holdings in Southern Copper were worth $7,412,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Southern Copper during the 4th quarter worth approximately $52,738,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Southern Copper during the 4th quarter valued at approximately $40,226,000. Renaissance Technologies LLC raised its position 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 valued at $37,173,000 after buying an additional 381,035 shares during the period. Northern Trust Corp raised its position 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 valued at $104,484,000 after buying an additional 355,013 shares during the period. Finally, Marshall Wace LLP raised its position 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 valued at $91,032,000 after buying an additional 331,319 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Down 1.3%

Shares of Southern Copper stock traded down $1.25 during trading hours on Friday, reaching $94.69. 1,070,982 shares of the company were exchanged, compared to its average volume of 1,178,008. Southern Copper Co. has a 1 year low of $74.11 and a 1 year high of $118.64. The stock's fifty day moving average is $90.68 and its 200 day moving average is $93.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The firm has a market cap of $75.39 billion, a PE ratio of 21.92, a PEG ratio of 1.90 and a beta of 1.01.

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

Southern Copper Announces Dividend

The company also recently announced a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's payout ratio is currently 61.27%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group reduced their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Scotiabank boosted their target price on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. cut their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Southern Copper presently has a consensus rating of "Hold" and a consensus price target of $91.50.

Southern Copper Company Profile

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.