Northern Trust Corp Acquires 355,013 Shares of Southern Copper Co. (NYSE:SCCO)

Northern Trust Corp raised its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 44.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,146,537 shares of the basic materials company's stock after buying an additional 355,013 shares during the period. Northern Trust Corp owned about 0.15% of Southern Copper worth $104,484,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SCCO. Prosperity Consulting Group LLC lifted its position in shares of Southern Copper by 10.2% in the 4th quarter. Prosperity Consulting Group LLC now owns 6,524 shares of the basic materials company's stock worth $595,000 after purchasing an additional 605 shares during the period. Virtus ETF Advisers LLC grew its holdings in shares of Southern Copper by 15.7% during the 4th quarter. Virtus ETF Advisers LLC now owns 1,717 shares of the basic materials company's stock worth $156,000 after acquiring an additional 233 shares during the period. Nebula Research & Development LLC raised its position in shares of Southern Copper by 104.9% in the 4th quarter. Nebula Research & Development LLC now owns 5,089 shares of the basic materials company's stock worth $464,000 after acquiring an additional 2,605 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Southern Copper by 11.0% in the 4th quarter. Voya Investment Management LLC now owns 12,536 shares of the basic materials company's stock valued at $1,142,000 after purchasing an additional 1,244 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Southern Copper by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock valued at $337,260,000 after purchasing an additional 15,037 shares in the last quarter. Institutional investors own 7.94% of the company's stock.

Southern Copper Stock Performance

Shares of NYSE:SCCO traded up $0.58 during midday trading on Friday, reaching $88.66. 317,690 shares of the company's stock traded hands, compared to its average volume of 1,209,459. Southern Copper Co. has a one year low of $74.11 and a one year high of $126.09. The stock has a 50 day moving average of $90.30 and a 200 day moving average of $95.86. The company has a market cap of $70.59 billion, a price-to-earnings ratio of 20.52, a P/E/G 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 (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 (EPS) 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 firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. As a group, equities research analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is currently 61.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SCCO shares. StockNews.com lowered Southern Copper from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group lowered 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. JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Scotiabank boosted their price target on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. Finally, Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. 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 MarketBeat, the company 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.