Southern Copper Co. (NYSE:SCCO) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its holdings in Southern Copper Co. (NYSE:SCCO) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,340 shares of the basic materials company’s stock after purchasing an additional 251 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Southern Copper were worth $2,113,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Glenmede Trust Co. NA boosted its position in shares of Southern Copper by 2.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,592 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 173 shares in the last quarter. Dfpg Investments LLC boosted its position in shares of Southern Copper by 1.4% in the 4th quarter. Dfpg Investments LLC now owns 13,188 shares of the basic materials company’s stock worth $1,106,000 after purchasing an additional 176 shares in the last quarter. Ronald Blue Trust Inc. boosted its position in shares of Southern Copper by 43.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 602 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 183 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Southern Copper by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 37,467 shares of the basic materials company’s stock worth $2,821,000 after acquiring an additional 190 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in Southern Copper by 4.6% in the 1st quarter. Captrust Financial Advisors now owns 4,488 shares of the basic materials company’s stock worth $341,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $115.25 on Friday. The stock has a market cap of $89.10 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 3.40 and a beta of 1.29. The business has a 50-day simple moving average of $93.41 and a 200-day simple moving average of $82.89. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $120.37.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.15). The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. On average, equities analysts expect that Southern Copper Co. will post 3.89 EPS for the current year.

Southern Copper Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a yield of 2.78%. Southern Copper’s payout ratio is 101.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and raised their target price for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. JPMorgan Chase & Co. reduced their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. Finally, StockNews.com lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus 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.