Kentucky Retirement Systems Invests $560,000 in Southern Copper Corporation (NYSE:SCCO)

Kentucky Retirement Systems acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,996 shares of the basic materials company's stock, valued at approximately $560,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Southern Copper in the fourth quarter worth $30,000. IFP Advisors Inc lifted its stake in shares of Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 281 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Southern Copper by 28.0% in the 4th 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 during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Southern Copper in the 4th quarter valued at about $60,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Southern Copper by 199.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 667 shares of the basic materials company's stock valued at $61,000 after acquiring an additional 444 shares during the last quarter. Institutional investors own 7.94% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on SCCO shares. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lowered their price target on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a report on Monday, April 14th. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Scotiabank upped their price target on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Finally, UBS Group lowered their price objective on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Southern Copper presently has a consensus rating of "Hold" and an average target price of $91.50.

Southern Copper Stock Up 0.3%

Shares of NYSE:SCCO opened at $97.22 on Thursday. Southern Copper Corporation has a 52-week low of $74.11 and a 52-week high of $118.64. The firm has a market capitalization of $77.40 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.30 and a beta of 1.01. The stock has a 50 day moving average price of $92.54 and a 200-day moving average price of $93.03. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71.

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 (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 return on equity of 39.39% and a net margin of 30.00%. As a group, equities research analysts anticipate that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. 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.

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