Wells Fargo & Company MN Acquires 32,120 Shares of Southern Copper Co. (NYSE:SCCO)

Wells Fargo & Company MN raised its holdings in Southern Copper Co. (NYSE:SCCOFree Report) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,082 shares of the basic materials company’s stock after acquiring an additional 32,120 shares during the period. Wells Fargo & Company MN’s holdings in Southern Copper were worth $15,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mckinley Capital Management LLC acquired a new position in shares of Southern Copper in the 4th quarter valued at approximately $1,977,000. Norges Bank bought a new position in Southern Copper in the fourth quarter valued at approximately $71,802,000. Independent Advisor Alliance bought a new stake in shares of Southern Copper during the 4th quarter worth approximately $809,000. Financial Advocates Investment Management bought a new stake in Southern Copper during the fourth quarter worth $259,000. Finally, Panagora Asset Management Inc. lifted its stake in Southern Copper by 45.7% in the fourth quarter. Panagora Asset Management Inc. now owns 29,458 shares of the basic materials company’s stock valued at $2,535,000 after acquiring an additional 9,239 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the sale, the director now directly owns 4,614 shares of the company’s stock, valued at $546,759. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 600 shares of company stock worth $63,430 in the last quarter. Company insiders own 0.08% of the company’s stock.

Southern Copper Trading Down 0.0 %

NYSE SCCO opened at $118.63 on Friday. The business’s 50-day moving average price is $115.10 and its two-hundred day moving average price is $93.76. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $92.67 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27. Southern Copper Co. has a 12 month low of $65.42 and a 12 month high of $129.79.

Southern Copper (NYSE:SCCOGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. On average, analysts expect that Southern Copper Co. will post 3.97 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th were paid a $0.01 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Southern Copper’s dividend payout ratio is currently 1.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SCCO shares. StockNews.com upgraded Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. The Goldman Sachs Group lifted 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. Morgan Stanley increased their price target on Southern Copper from $123.00 to $135.00 and gave the company an “underweight” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a report on Thursday, March 21st. Finally, Scotiabank cut their target price on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research note on Tuesday, May 21st. Five research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $90.33.

View Our Latest Stock Report on SCCO

Southern Copper Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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