Raymond James Financial Services Advisors Inc. Has $3.55 Million Stake in Southern Copper Co. (NYSE:SCCO)

Raymond James Financial Services Advisors Inc. boosted its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 119.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,223 shares of the basic materials company's stock after purchasing an additional 22,471 shares during the period. Raymond James Financial Services Advisors Inc.'s holdings in Southern Copper were worth $3,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. BlackRock Inc. lifted its holdings in Southern Copper by 10.7% during the 1st quarter. BlackRock Inc. now owns 7,797,970 shares of the basic materials company's stock valued at $594,595,000 after buying an additional 756,555 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Southern Copper by 200.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,179,899 shares of the basic materials company's stock valued at $208,201,000 after acquiring an additional 2,789,376 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Southern Copper by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,763,612 shares of the basic materials company's stock valued at $209,759,000 after purchasing an additional 835,044 shares during the period. State Street Corp grew its stake in Southern Copper by 0.8% in the second quarter. State Street Corp now owns 2,660,057 shares of the basic materials company's stock worth $190,832,000 after purchasing an additional 20,053 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Southern Copper by 2.4% during the 3rd quarter. Morgan Stanley now owns 1,848,269 shares of the basic materials company's stock worth $139,156,000 after purchasing an additional 43,547 shares during the period. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Stock Up 1.8 %

Shares of SCCO stock traded up $1.97 during mid-day trading on Monday, hitting $112.26. 1,061,284 shares of the stock traded hands, compared to its average volume of 1,084,319. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $112.53. The stock has a market cap of $86.79 billion, a P/E ratio of 35.12 and a beta of 1.29. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46. The stock's fifty day moving average is $90.15 and its two-hundred day moving average is $81.50.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its earnings results on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.15). The firm had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. Equities analysts predict that Southern Copper Co. will post 3.67 EPS for the current year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, February 12th. This represents a $3.20 annualized dividend and a dividend yield of 2.85%. Southern Copper's dividend payout ratio is presently 101.91%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Southern Copper from a "buy" rating to a "hold" rating in a research report on Monday, February 5th. JPMorgan Chase & Co. cut their target price on shares of Southern Copper from $63.50 to $61.00 and set an "underweight" rating on the stock in a research report on Thursday, March 21st. Jefferies Financial Group raised shares of Southern Copper from a "hold" rating to a "buy" rating and upped their price target for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group lifted their price objective on shares of Southern Copper from $61.00 to $82.00 and gave the company a "sell" rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $76.83.

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.