OMERS ADMINISTRATION Corp Sells 3,772 Shares of Southern Copper Co. (NYSE:SCCO)

OMERS ADMINISTRATION Corp lowered its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,122 shares of the basic materials company's stock after selling 3,772 shares during the period. OMERS ADMINISTRATION Corp's holdings in Southern Copper were worth $2,836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCCO. Wedmont Private Capital raised its stake in shares of Southern Copper by 16.7% in the 4th quarter. Wedmont Private Capital now owns 2,529 shares of the basic materials company's stock valued at $239,000 after acquiring an additional 361 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of Southern Copper by 3.6% in the fourth quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company's stock valued at $370,000 after purchasing an additional 140 shares during the period. Outlook Wealth Advisors LLC raised its position in shares of Southern Copper by 13.0% in the fourth quarter. Outlook Wealth Advisors LLC now owns 3,722 shares of the basic materials company's stock valued at $339,000 after purchasing an additional 427 shares during the period. Alaska Permanent Fund Corp lifted its stake in shares of Southern Copper by 0.6% in the fourth quarter. Alaska Permanent Fund Corp now owns 70,334 shares of the basic materials company's stock worth $6,410,000 after buying an additional 432 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its holdings in shares of Southern Copper by 8.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 113,020 shares of the basic materials company's stock worth $10,300,000 after buying an additional 9,032 shares during the period. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SCCO shares. StockNews.com upgraded shares of Southern Copper from a "hold" rating to a "buy" rating in a report on Monday, May 12th. 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 report on Monday, March 10th. UBS Group cut their price objective on 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. decreased their target price on 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, Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $91.50.

Southern Copper Stock Performance

NYSE SCCO traded down $1.44 during midday trading on Friday, hitting $90.77. The company had a trading volume of 1,174,368 shares, compared to its average volume of 1,210,294. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The stock has a market cap of $72.27 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.90 and a beta of 1.05. The firm has a fifty day simple moving average of $90.63 and a two-hundred day simple moving average of $94.80. Southern Copper Co. has a fifty-two week low of $74.11 and a fifty-two week high of $126.09.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate 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. Equities analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be given 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 is currently 61.27%.

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.