Security National Bank Decreases Position in Southern Copper Corporation (NYSE:SCCO)

Security National Bank decreased its position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,906 shares of the basic materials company's stock after selling 3,702 shares during the quarter. Security National Bank's holdings in Southern Copper were worth $4,197,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in Southern Copper during the 4th quarter valued at about $30,000. IFP Advisors Inc raised its holdings 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 valued at $43,000 after purchasing an additional 281 shares during the last quarter. Larson Financial Group LLC lifted its position in Southern Copper by 28.0% during the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 114 shares during the period. Golden State Wealth Management LLC bought a new position in Southern Copper during the first quarter valued at approximately $59,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Southern Copper in the fourth quarter worth approximately $60,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

NYSE SCCO opened at $97.22 on Thursday. The business's fifty day moving average is $92.54 and its 200 day moving average is $93.03. Southern Copper Corporation has a fifty-two week low of $74.11 and a fifty-two week high of $118.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71. The company has a market capitalization of $77.40 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 2.30 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, beating analysts' consensus estimates of $1.05 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.05 billion. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. Sell-side analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's payout ratio is 61.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SCCO. 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. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. cut their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, UBS Group reduced their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $91.50.

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.

Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Corporation (NYSE:SCCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.