USS Investment Management Ltd Sells 12,223 Shares of Southern Copper Co. (NYSE:SCCO)

USS Investment Management Ltd lowered its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 29.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,093 shares of the basic materials company's stock after selling 12,223 shares during the period. USS Investment Management Ltd's holdings in Southern Copper were worth $2,651,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Southern Copper during the 4th quarter worth approximately $30,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after buying an additional 257 shares during the period. IFP Advisors Inc boosted its stake in shares of Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after buying an additional 281 shares during the period. Spire Wealth Management acquired a new stake in shares of Southern Copper during the 4th quarter valued at $47,000. Finally, Larson Financial Group LLC boosted its stake in shares of Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after buying an additional 114 shares during the period. Institutional investors own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group reduced 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. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced 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. Finally, Scotiabank lifted their target price on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a report on Monday, March 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $91.50.

Southern Copper Stock Performance

Shares of SCCO traded up $0.51 during trading hours on Thursday, reaching $92.25. 238,920 shares of the company traded hands, compared to its average volume of 1,189,918. The stock's fifty day moving average is $89.80 and its 200 day moving average is $93.87. The stock has a market cap of $73.45 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 1-year low of $74.11 and a 1-year high of $118.64.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. The business had revenue of $3.12 billion during 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%. Equities research analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

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

Southern Copper 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.