Southern Copper Co. (NYSE:SCCO) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 44.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,146,537 shares of the basic materials company's stock after purchasing an additional 355,013 shares during the period. Northern Trust Corp owned approximately 0.15% of Southern Copper worth $104,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SCCO. Capital World Investors lifted its holdings in Southern Copper by 0.6% during the 4th quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company's stock valued at $385,684,000 after buying an additional 24,787 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 acquiring an additional 15,037 shares in the last quarter. abrdn plc boosted its holdings in shares of Southern Copper by 4.4% in the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock valued at $260,428,000 after purchasing an additional 118,909 shares during the period. FIL Ltd raised its position in Southern Copper by 0.3% during the 4th quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company's stock valued at $106,734,000 after purchasing an additional 3,045 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Southern Copper by 49.6% in the 4th 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 during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Down 3.4 %

SCCO stock traded down $3.06 on Wednesday, hitting $87.46. 1,326,291 shares of the company's stock were exchanged, compared to its average volume of 1,213,620. The firm has a 50 day moving average price of $90.30 and a two-hundred day moving average price of $96.09. 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 12-month low of $74.11 and a 12-month high of $126.09. The stock has a market cap of $69.63 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, equities research analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SCCO. Scotiabank raised their price target on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. JPMorgan Chase & Co. cut 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 report on Monday, April 14th. StockNews.com cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group cut their price objective on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.