State of Wyoming Boosts Holdings in Southern Copper Co. (NYSE:SCCO)

State of Wyoming raised its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 326.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,011 shares of the basic materials company's stock after purchasing an additional 3,071 shares during the period. State of Wyoming's holdings in Southern Copper were worth $366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Southern Copper in the fourth quarter worth about $52,738,000. Renaissance Technologies LLC lifted its stake in shares of Southern Copper by 1,417.7% in the fourth quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock worth $37,173,000 after buying an additional 381,035 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Southern Copper by 44.9% in the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock worth $104,484,000 after buying an additional 355,013 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Southern Copper by 49.6% in the fourth quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock worth $91,032,000 after buying an additional 331,319 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in shares of Southern Copper by 26.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company's stock worth $93,759,000 after buying an additional 217,546 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday. UBS Group reduced their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. 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 research note on Monday, March 10th. 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock 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 given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $91.50.

Southern Copper Price Performance

Shares of SCCO stock opened at $90.99 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm's 50-day moving average is $90.53 and its two-hundred day moving average is $94.52. Southern Copper Co. has a 12 month low of $74.11 and a 12 month high of $119.97. The company has a market capitalization of $72.44 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings results 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. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.05 billion. Analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, May 19th. Shareholders 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 presently 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.

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